 Regional Prosperity
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 Goal 8: Maintain regional prosperity by attracting new strong businesses to all areas of the region.
Goal 9: Create more economic opportunities for people from disadvantaged groups.
Goal 10: Increase access to affordable housing near places people work across the region.
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GOAL 10: Increase access to affordable housing near places people work across the region.
INDICATOR: Percentage of income spent on housing.
Why is this important?
Federal housing guidelines recommend spending no more than 30 percent of pre-tax household income on housing. To stay within these guidelines (widely used by mortgage companies and rental agencies), workers often seek out less expensive homes in outlying areas. As a result, many workers have long commutes, which increase traffic congestion and air pollution.
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How are we doing?
As we found last year, most Atlanta MSA homeowners spend considerably less than 30 percent of their household incomes for housing. Renters, in contrast, often pay 35 percent or more of their monthly income for housing. According to Census Bureau surveys for 2004 (the latest data available), only 28 percent of homeowners in the 28-county Atlanta MSA spend more than 30 percent of their household income for housing - compared to 48 percent of renters. The median monthly housing cost for homeowners with mortgages was $1,288, while the median monthly housing cost for renters was $780.
According to federal statistics, in 2004 roughly 68 percent of Atlanta MSA housing stock was owner-occupied, and 32 percent was rented. In 2004, 41 percent of all existing Atlanta-area housing was less than 15 years old.
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