How should the Town of Davidson approach affordable housing?
One of the Town of Davidson’s core values states that we are committed to maintaining an economically diverse citizenry and providing affordable housing opportunities. Davidson's historic mix of people in all income levels and ages is fundamental to our community, so town government will encourage opportunities, services, and infrastructure that allow people of all means to live and work here.
Since 2001, the Town of Davidson has had an affordable housing program that has created 68 new homes in eight neighborhoods. In addition, the local non-profit housing agency, Davidson Housing Coalition, has 70 affordable properties, of which 56 are rental units.
The town is conducting a housing needs assessment to determine the current housing needs of our community, especially those of our low- and moderate-income earners. The 2016 median sales price in Davidson is $342,000, which is not affordable to households that earn less than 120% of the area median income. This means that a lot of the people who work in Davidson, such as teachers, grocery store clerks, police officers, sanitation workers, etc., do not have an opportunity to live where they work. Further, rising housing values have resulted in many Davidson owners and renters becoming increasingly cost-burdened.
As are many communities across the country, the town is struggling to find ways to address the lack of affordable housing in Davidson. We hope that the needs assessment will assist with decisions about affordability and housing.