Due to the high cost of living in Virginia, there’s even more at stake than Virginians’ quality of life. Virginia’s economic health could also suffer. According to a survey by Brooks Adams Research, an independent research company, more than 76% of participants agreed that the cost of living in Virginia is rising faster than incomes. According to 83% of participants, the cost of housing has the greatest impact on the cost of living.

Now that many middle-class Virginians can no longer afford to live near where they work, the rising costs of housing and living have reached a crisis level. According to the Brooks Adams Research survey, more than 60% of participants agreed that the middle class can no longer afford to buy homes in Virginia. As Virginians must move farther away from the workplace to find housing they can afford, commutes, traffic congestion, pollution and wear and tear on roads increase—all of which has contributed to a growing transportation crisis.

The good news is that the Virginia Housing Coalition is proposing a real solution to this problem—the Virginia Housing Trust Fund. More than 85% of survey participants said the Trust Fund is a good idea for Virginia. More than 53% said that building more roads and bridges in combination with building reasonably priced homes so that people can afford to live near the workplace would help solve Virginia’s transportation problem.

An Attainable Solution—the Virginia Housing Trust Fund
The lack of affordable options for housing has become a national crisis; in fact, 38 states—including Maryland, North Carolina and West Virginia—have established housing trust funds to alleviate the rising cost of housing. Because an existing, dedicated stream of state revenue would support the proposed Virginia Housing Trust Fund, no tax increases would be necessary.

The Virginia Housing Trust Fund would offer broad-reaching and flexible solutions to the high cost of housing. In addition to promoting home ownership, the Trust Fund would also support the development of affordable rental options. The Trust Fund would stimulate transit-oriented housing to reduce traffic congestion and provide low-interest loans, matching funds for local programs and incentives for developers to create reasonably priced housing and mixed-income communities. Many Virginians would benefit, including the middle class, first-time homebuyers, struggling single parents, seniors, people with disabilities and those at risk of becoming homeless.

For more information, download the Virginia Housing Trust Fund Fact Sheet.

Support the Trust Fund
The following organizations have already joined the Virginia Housing Coalition to make the Housing Trust Fund a top legislative priority in the coming year:

• Habitat for Humanity Virginia (www.habitatvirginia.org)

• Housing Opportunities Made Equal of Virginia(www.phonehome.org)

• Housing Policy Transformation Team

• LENOWISCO P.D.C. (www.lenowisco.org)

• Richmond Association of REALTORS/Partnership for Workforce Homes (www.WorkforceHomes.com)

• Richmond Metropolitan Habitat for Humanity (www.richmondhabitat.org)

• Virginia Interfaith Center for Public Policy (www.virginiainterfaithcenter.org)

Won't you join us?

Organizations and individuals can help! If your organization would like to join the Housing Coalition as a legislative partner, click here. Individuals, let your State Delegate and Senator know that you are concerned about the rising cost of housing and that you support legislation to establish the Virginia Housing Trust Fund. Email your legislators right now using voterVOICE.