Maryland Needs More Affordable Housing Now
Tell us about some of the challenges you’ve faced finding affordable housing in Maryland.
Affordable Housing is Disappearing
Maryland needs more affordable housing NOW.
“Affordable housing in Maryland is disappearing because so many people want to live in Maryland, but there’s too little housing. That drives housing prices up –and that drives average people out.”
Our state has become more expensive – and less affordable. Older Marylanders and families of color are being squeezed out of the housing market.
Maryland Housing Facts
Maryland has the 11th largest housing deficit in the country1.
In 2020, Maryland housing inventory was less than a month, down from over 3 months in 20152.
Maryland Price Increases
Average price increased 27% from 2015-2020
Median price increased 28% from 2015-2020
52% of young adults are living with parents. More than anytime in the last 100 years3.
Lowest percentage of first-time buyers in thirty years 33%4.
1: Freddie Mac Report, Housing Supply Shortage: State of States 2020
2: 4-6 months is considered a balanced market
3: Pew Research 18-29 years olds
4: 2020 NAR homebuyer seller survey. 41-42% is considered healthy market for first time homebuyers
How can we keep all our residents so that Maryland thrives for everyone?
We can call on our elected leaders in Maryland to SUPPORT:
HB 1178 – Homebuyers Tax-Free Savings Accounts
Assist homebuyers in saving for the upfront costs of their purchase like down payments and closing costs.
HB 58/SB 117 – Workgroup on Minority Homeownership
Develop strategies to close the persistent homeownership gap between white residents and residents of color.
HB 1305 – Condo Law Reform for Middle Housing Options
Address Maryland’s housing shortage by removing barriers to more affordable and missing middle housing options such as Cottage Clusters.