Affordable Housing
A safe, affordable home is one of the basic requisites of life—a key to individual and family health, family wealth, economic stability, and wellbeing, and is the foundation for sustainable, economically vibrant and diverse neighborhoods. Quality, affordable housing has benefits that extend beyond the walls of a home and the experience of the people who live there to the community at large. It can stimulate spending and employment in the local economy, bring revenue to the community and reduce the likelihood of foreclosure and eviction.
Affordable housing is generally defined as housing in which the occupant pays no more than 30 percent of gross income for housing costs, including utilities. In the Kansas City region, the greatest housing shortage is for residents at the 30% and 50% median income levels – or individuals that make $18,060 and $30,100, respectively, and families of four making $25,800 or $43,000, respectively. Our region’s renters at this income level experience the greatest housing burden (defined as spending more than 30% of their income on housing and income) while housing affordability challenges are disproportionately borne by Black households who are still being impacted by current and historic systemic barriers to owning and renting quality homes.
LISC Greater Kansas City’s goals around affordable housing include:
- Increase availability of quality affordable housing
- Ensure long-term housing stability of low- to moderate- income residents of historically disinvested areas
- Preserve affordability of existing structures
- Influence local, state, and federal housing funding, goals, and policies
To make this all happen, LISC provides grants, loans and equity for nearly every aspect of development, from planning and acquisition to construction and renovation. We offer technical assistance, data, and mapping tools to community-based organizations working to improve the supply and condition of affordable housing in their neighborhoods. And we advocate for good housing policy at all levels of government.
Since our inception, affordable housing preservation and development has been at the core of our work. LISC Kansas City has leveraged $674 million and deployed $194 million in grants and loans to support development of 5,350 of affordable housing units.
Regional Housing Partnership
Convened and supported by the Mid-America Regional Council (MARC) and Greater Kansas City Local Initiatives Support Corporation (LISC), the RHP will focus on housing creation and preservation and seek to foster a thriving housing system that produces and sustains a sufficient supply of quality, diverse housing options to meet the challenge.
LISC KC Receives $3 Million Grant for Affordable Housing Program
We are excited to share that LISC Greater Kansas City’s Regional Housing Initiative recently received a $3 million federal Community Project Funding grant that will help provide affordable housing for residents in Kansas City.
Housing Trust Fund
LISC, in partnership with Urban Neighborhood Initiative (UNI) and the UNI Promoting Equitable Neighborhoods (PEN) work group, finalized our recommendations for the City of Kansas City, Missouri’s Housing Trust Fund (HTF) to support the preservation and production of affordable housing.
Affordable Housing Resources
Access to affordable, safe and healthy housing is essential. We’ve curated resources which lift up the on-going strategies to increase the supply of affordable housing and prevent homelessness.
