When it is well developed and managed, affordable housing offers many benefits, to the community and residents.
The community benefits from affordable housing because it contributes to sustainable and dynamic local communities by:
- Providing housing for a diverse local workforce and accommodating people with the different skills required to support communities
- Providing direct economic benefits to the local community, including increased demand for goods and services which in turn provides increased local employment opportunities.
- Meeting the needs of the growing number of smaller households living in high-cost areas
- Promoting the economic and social integration – ensuring that families’ housing costs are not so high that they can’t afford to meet education and health costs and that there is sufficient security of tenure to improve their capacity to obtain and maintain employment
Residents of affordable housing benefit because it provides housing that:
- Is more affordable than that already available in the private market, thus still allowing adequate income for essential expenses such as food, clothing, health and education.
- Integrates with the community
- Provides a way for people to remain in areas in which they have lived for a long time, and live close to their support networks during changes in life circumstances such as divorce, retirement, or recovery from a long-term illness or injury