It's infrastructure week and across America its #TimeToBuild! Infrastructure week is a national week of education and advocacy that brings together organizations, businesses, local governments, workers, elected leaders, and community members to focus on our nation's infrastructure needs. A piece of the infrastructure puzzle that is often left out is affordable housing.  Affordable housing is a vital component to infrastructure investment, and the construction and preservation of our country's affordable housing stock will strengthen productivity and economic growth, promote economic mobility, and will support job creation and increased incomes.

Economic Growth

When communities do not have adequate affordable housing for their workforce, wages and productivity will suffer. The shortage of affordable housing in major U.S. cities costs our economy $2 trillion a year in lower wages and productivity and prevents low-income households from moving to areas with more economic opportunities. The affordable housing access obstacle prevents families from increasing their earnings and causes a slower GDP growth. It is estimated that between 1964 and 2009, the GDP growth would have been 13.5% higher if there were more affordable housing options for families. This translates into a $1.7 trillion increase in income overall and $8,775 in additional wages per worker.

Economic Mobility

Access to affordable housing improves numerous aspects of a family's quality of life. Research shows that when a family has access to affordable housing, there is an increase in their economic mobility. Additionally, children receive numerous benefits from living in an affordable housing community in high opportunity areas. These children earn 31% more as adults, live in better neighborhoods as adults, and are less likely to become a single parent. These children also do better in school and have greater opportunities to learn outside the classroom. 

Job Creation

Affordable housing infrastructure helps local economies and creates jobs by leveraging public and private funds to increase earnings, increase tax revenue, and put people to work. Building just 100 affordable rental homes can generate $11.7 million in local income, $2.2 million in taxes and other revenue, and can create 161 local jobs in the first year of construction.