|employer-assisted housing: overview|
What problems do these policies solve?
When employers work with state and local governments to increase the supply of homes affordable to their workers, they address more than just the housing shortage. By improving access to nearby housing, employers can substantially reduce workers' commute times, removing a major obstacle to new employee recruitment and improving existing employee retention, morale, and productivity. When workers are able to live closer to their jobs, local residents benefit from decreased traffic congestion and reduced air pollution. Employer involvement in housing initiatives can also contribute to community development in and around workplace facilities; for example, an influx of new homeowners and renters may help to stabilize nearby neighborhoods in need of reinvestment or areas with high rates of foreclosed properties, increasing the desirability of the surrounding environment.
Where are these policies most applicable?
Policies and programs that leverage employers' commitment to affordable homes are applicable in a wide range of communities. Without employer support, workers holding low-wage jobs may be unable to find decent housing in high-cost areas and resort towns. In rural communities, employers may need to be involved in housing production programs to ensure there is an adequate supply of housing to support economic development initiatives and attract employees. In declining urban and suburban areas, employer investment in housing can help stabilize neighborhoods and spur revitalization.
|Solutions in Action|
|Photo credit: Curtis Hall, courtesy of Fairfax County Department of Housing and Community Development|
The Westcott Ridge Condominiums were purchased by the Fairfax County, Virginia Redevelopment and Housing Authority as part of the Magnet Housing Program, which provides an affordable housing option for participants in the County's Fire and Rescue training program.
Visit the Gallery to learn more about Westcott Ridge, or click here to view case studies of employers that have established housing benefits programs.
|Read Quantifying the Value Proposition of Employer-Assisted Housing: A Case Study of Aurora Health Care [PDF] to learn more about the impacts of a homeownership benefits program offered by one employer.|
|Learn more about leveraging employers' commitment to affordable homes for workers |
Go back to learn about other policies that help generate capital