Government
BY COLBY FARR
Officials look to solutions as local housing cost burden rises
Percentage of McKinney households that are cost burdened The percentage of cost burdened households has increased for both owners and renters in most income brackets. Renter households Owned households 2015 2015
A new report on affordable housing in McKinney shows that housing cost burdens have increased for owners and renters in the city. The specifics Root Policy Research Director Avilia Bueno presented the new report’s findings during a Feb. 17 McKinney City Council work session, which included an assessment of McKinney’s affordable housing needs and strategy recommendations. Housing cost burdens have increased for renters and owners between 2015 and 2023, according to Bueno’s presentation. Cost burden is defined as any household that spends more than 30% of its income on housing costs, Bueno said. “That means there is less income left over for education, health care, transportation, food, child care and other necessities,” she said. “There’s also less disposable income for the household to just spend in the local economy.”
2023
2023
Household income
SOURCE: ROOT POLICY RESEARCH/COMMUNITY IMPACT
develop a three-to-five-year affordable housing strategy for council’s consideration. “The intention is to develop clear priorities, implementation steps and measurable performance metrics to continue moving the needle forward on affordable housing,” she said.
Looking ahead City staff will use key findings and recommen- dations from the report to form a targeted goal for affordable housing, Housing and Community Development Director Margaret Li said. Staff will
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