2024 Update: Local governments are closing the financial gap for affordable housing developments
Community and Economic Development Program of UNC
SEPTEMBER 4, 2024
The data shows that affordable housing developers continue to struggle with closing financial gaps in their projects (Table 1). The median development cost per unit remained steady at $250,000, more than 50% higher than in 2020. However, funding for WHLP lapsed from 2021 to 2023, just as construction costs surged.
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