In a groundbreaking report titled “The Truth About Austin’s Missing Housing,” the Austin Board of REALTORS unveils startling insights into the city’s housing landscape. This comprehensive analysis sheds light on the critical undersupply of housing in Austin, pinpointing common barriers that drive up housing costs and offering actionable policy recommendations to tackle this pressing issue.

The report reveals a stark reality: Austin faces a severe undersupply of housing across various income brackets and household sizes. In Travis County alone, there’s an estimated 40.7% undersupply for two-person households earning 120% or less of the median family income (MFI), resulting in a staggering shortage of 221,603 homes. Similarly, four-person households earning 80% MFI or less encounter a 45.4% undersupply, translating to a deficit of 247,240 homes.

The situation is even more dire within the city limits. Austin grapples with a 51.1% undersupply for two-person households earning 120% MFI or less, equating to a shortfall of 215,007 homes. Likewise, four-person households facing similar income constraints experience a 50.0% undersupply, leaving a void of 211,023 homes.

To confront these longstanding challenges, the report underscores the need for community-wide collaboration and bold leadership from policymakers. It urges a reevaluation of outdated housing blueprints, streamlining of development processes, and championing regulatory reforms to prioritize market affordability.

Analyzing housing affordability across different household sizes and buyer demographics, the report reveals a concerning trend. There’s a decline in the percentage of existing homeowners and renters qualifying for mortgage loans, signaling escalating affordability concerns amidst soaring home prices relative to incomes.

In response to these findings, ABoR’s CEO emphasizes the urgency of implementing meaningful changes to increase missing middle housing types in the community. This entails fostering a conducive environment for diverse housing options to flourish, ensuring equitable access to housing for all residents.

As Austin grapples with its housing crisis, the report serves as a roadmap for stakeholders to navigate towards sustainable solutions. By embracing innovation, collaboration, and forward-thinking policies, we can pave the way for a more inclusive and resilient housing market that meets the diverse needs of our community.

View the fill report on ABOR’s website: https://www.abor.com/the-truth-about-austins-missing-housing

Keywords: Austin housing shortage, Austin Board of REALTORS, housing affordability, undersupply of housing, Travis County housing, city of Austin housing, housing policy recommendations, affordable housing solutions, missing middle housing, regulatory reforms, housing affordability analysis.