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A Matter of Some Concern: Affordable Housing Crisis in Chattanooga

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Anand Martin Foundation Inc
A Matter of Some Concern: Affordable Housing Crisis in Chattanooga

For the past few years, local community welfare organizations, such as Chattanooga Organized for Action, have been calling our attention to the plight of affordable housing. Chattanooga is facing an affordable housing crisis. The statement may come as a surprise to some of us — especially with all the new construction around us — but it is true that low to medium income families have to pull teeth to meet their rental obligation. An average apartment in Chattanooga is priced more than 25 percent above the affordable housing level, which means that a renter would need a yearly income of $42, 680 to be able to pay his rent without compromising other necessities. According to HUD guidelines, for a house to be affordable should not have a rent more than 30 percent of the total household expense. Visit — https://www.anand-martinfoundation.com/a-matter-of-some-concern-affordable-housing-crisis-in-chattanooga/


This year, the spread of Covid – 19 has further worsened the situation making affording housing nearly impossible for the low-income families.

Understanding the potential negative effects of affordable housing crisis, Anand- Martin Foundation (AMF) plans to remediate the problem by building 250 housing units and renting them out at affordable rates to the families with low-medium income.

About Anand Martin Foundation (AMF)

Formed in 2016, AMF is Chattanooga-area, not for profit organization and is dedicated to, improving the quality of life in under-served neighborhoods through the support of community economic development and affordable housing opportunities. Its immediate goal is to build 250 affordable housing units within next two years.



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