Grounds to choose affordable housing for sustainable living
A home plays a crucial role in people's life. It is a place that protects its occupants and nurtures their life. A house is not only a shelter; it helps individuals to develop professionally and personally by offering a safe harbor. Affordable accommodation is a necessity for people worldwide. The cost of a house has increased considerably in the past few years.
A middle-class individual finds it strenuous to purchase an apartment while the rich people enjoy luxurious accommodations. Similarly, the cost of renting a house is also very high for the people below the poverty line. A large majority of senior citizens with fixed monthly incomes struggle for appropriate accommodation.
Significance of affordable housing for people with low money income
Income in the dominant market area is substantially low for the majority of the countries. The average household income in the year 2020 was around $65,358 for the capital market. Such a figure is lower by 31% in comparison to the US figure of $90,054. The average for the primary market area is around $27,231. Out of the substantial macro-level income divergences, the income of 37% of people in the dominant market area is below $35000 annually.
Such statistics are a permanent affordability threshold for the micro-unit apartments compared to 28% for the overall population with an average income of $35000. The income divergence of the United States on the higher side is $50000, which belongs to 54% of the primary market area.
Reasons for quality affordable housing
Income statistics document the need for affordable housing in the market area
It promotes the well-being of individuals
An affordable house contributes to the overall well-being of individuals in multiple ways, thereby positively affecting their health and mental well-being. An accommodation provides stability to the occupants, thereby allowing them to manage their day-to-day activities. It saves individuals from unnecessary stress, thereby minimizing health risks associated with poor quality living. An inexpensive house promotes community involvement for senior citizens and provides them a network for socializing.
It is advantageous for children
An exemplary affordable house plays a crucial role in the well-being of the younger members of society. Studies have proved that poor-quality homes give rise to behavioral problems among children with low income. An affordable house has a positive impact on the child's cognitive development. It minimizes emotional issues among them.
It promotes employment
A dignified accommodation influences the way people work, thereby generating employment opportunities for several people. Several studies concerning affordable housing prove that a house project with a modest bargain creates millions of jobs for people in housing, engineering, and architecture.
It helps establish sustainable communities
Affordable house projects that have an appropriate design positively impact the community, specifically in city life. It lifts the standard of living of the residence and promotes social connections. Housing organizations and community advocates work as a team to create a vibrant environment, thereby enhancing the value of adjacent properties. Maxwell Drever indicates that the most crucial thing about affordable accommodation is that it enhances the possibility of a better life among individuals.
It promotes diversification
Affordable housing gives birth to communities by bringing about people from diverse backgrounds and with different educational and professional qualifications. A community with a diverse population enhances exposure and interaction among individuals, thereby minimizing racial discrimination. It promotes cultural sensitivity and tolerance among the occupants.
