Wake Forest Housing Affordability Plan - DRAFT July 2022

INTRODUCTION

INTRODUCTION

PUBLIC DRAFT 07/01/22

PUBLIC DRAFT 07/01/22

Plan Overview

The Wake Forest Housing Affordability Plan seeks to lay a path for expanding housing opportunities that are rooted in analysis and community input. Wake Forest is situated in one of the fastest-growing regions in the United States, leading to considerable popula ঞ on growth for the Town in recent decades. The large in fl ux of new residents has substan ঞ ally increased demand for both rental and for-sale housing in the community. As a result, many seeking to locate to Wake Forest are unable to fi nd housing that they can a ff ord,

while numerous households of exis ঞ ng residents are at risk of being displaced from Wake Forest and possibly the region. In response to these challenges, the Town of Wake Forest undertook a Housing A ff ordability Plan to analyze local housing condi ঞ ons, determine local housing need, explore proven housing a ff ordability strategies, and re fi ne these strategies into prac ঞ cal ac ঞ ons for the Town. The strategies contained herein set the framework for how the Town can work with community partners to make though  ul, targeted investments in housing.

The Housing Affordability Plan was developed between 2021 and 2022, with regular engagement throughout.

INTRODUCTION





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