King County’s Regional Affordable Housing Task Force has unanimously adopted a five-year action plan to increase construction and preservation of affordable housing in the region.
The task force is made up of leaders from King County and cities within the county. Kenmore Mayor David Baker and King County Councilmember Claudia Balducci are co-chairs.
Local governments formed the task force in recognition that people throughout the region are facing an unprecedented challenge in finding and keeping a home they can afford.
From 2012 to 2018, the median home price increased 94% and rents increased 45% in the Seattle-Tacoma-Bellevue metro area.
The housing task force worked for 18 months to understand the depths of the problem and to develop a seven-part action plan.
Current estimates show that King County needs 244,000 additional affordable homes by 2040.
Housing needs in King County today and in 2040. (Regional Affordable Housing Task Force Five-Year Plan)
Adding those homes would help ensure that no household earning 80% of Area Median Income (AMI) or less would be “cost burdened” – spending more than 30% of their income on housing.
The action plan includes strategies to increase construction and preservation of affordable housing. It also prioritizes affordable housing close to jobs and transit and protects communities of color and low-income communities from displacement.
King County is dedicating funding for new staff and creating a governance structure to make sure the action plan makes a difference.
King County’s task force is just one of several housing initiatives underway.
PSRC’s Growth Management Policy Board identified housing as a primary issue to address in VISION 2050, as the region prepares to add 1.8 million more people and 1.2 million more jobs by 2050.
For more on housing in the region, see PSRC’s Housing Background Paper.