FOR IMMEDIATE RELEASE
July 15, 2024
Contact: [email protected]
Gov. Whitmer Announces Major Progress in Reducing Michigan’s Housing Shortage by 50,000 Units, Expanding Access for Michiganders
LANSING, Mich. – Today, Governor Gretchen Whitmer announced that Michigan is making progress to tackle the statewide housing shortage. Thanks to state investment, federal resources, and strong private development, Michigan built or rehabilitated 50,000 housing units, significantly reducing the statewide shortage from 190,000 units to 141,000 units. Work to build more housing will continue thanks to record investments from the Michigan State Housing Development Authority (MSDHA) and resources secured in the recently passed balanced state budget.
“Our record investments to build housing have reduced our statewide shortage by 50,000 units, helping tens of thousands more Michiganders have a safe, affordable place to call home,” said Governor Whitmer. “Together, with our local and statewide partners, we are making the largest investment to build housing in Michigan history so we can expand supply and drive down costs while creating tens of thousands of good-paying jobs along the way. There are more Michiganders working in construction today than any point in the last 22 years. Across the state, pipefitters, carpenters, bricklayers, and roofers are rolling up their sleeves to ‘build, baby, build’ a heck of a lot more housing and ensure every Michigander has a safe, affordable place to call home.”
Population and housing unit estimates are updated annually by the U.S. Census Bureau, most recently in May. Michigan State Housing Development Authority (MSHDA) staff in its Office of Market Research uses the latest Census data to arrive at projections of supply and demand, setting the goal of a 5% vacancy rate to model the conditions of a housing market that’s healthy and balanced.
“This data shows our state is taking steps toward closing the gap and addressing the housing crisis for our neighbors,” said Amy Hovey, CEO and Executive Director of MSHDA. “That’s exactly why we raised the state’s five-year housing goal by 53% last month, in recognition of the significant progress we’ve made, yet acknowledging that we need to do more.”
Current trends indicate Michigan can expect about 20,000 additional housing units per calendar year between now and the end of 2026. However, MSHDA estimates suggest the state is likely to continue to see those trends increase, assuming the state continues to increase investment in housing production.
“The numbers support our position that the state should continue investing more in housing production, with funds that are as flexible as possible,” added Hovey. “This will allow MSHDA to continue to align our resources with the needs that local and regional leaders bring to us through the continued implementation of the Statewide Housing Plan.”
The Census Bureau’s latest revisions show increases to previous years’ data indicating that more housing was added to Michigan’s market than previously thought.
Governor Whitmer’s Work to Invest in Affordable, Attainable, and Sustainable Housing
- Released in 2022, Michigan’s first Statewide Housing Plan set a goal of 115,000 units over the next five years. Since Governor Whitmer took office, the State of Michigan has built or rehabilitated 34,000 affordable housing units, supporting 20,000 good-paying construction jobs.
- In her 2024 State of the State Address, she announced that the State of Michigan will make the largest investment to build housing in Michigan history, nearly $1.4 billion to build or rehabilitate nearly 10,000 affordable homes.
- Signed a bipartisan supplemental investing $275 million to build and refurbish thousands of affordable housing units, revitalize communities, and address blight.
- Secured a sustainable funding source for the Housing and Community Development Fund, to meet affordable, attainable housing needs for working-class families.
- Secured a sustainable funding source for Revitalization and Placemaking Grants, used to make communities more attractive places to live and work by building housing.
- Made historic investments in the Building Michigan Together Plan to build and refurbish affordable housing units for working class families.
- Signed Transformational Brownfield legislation to power economic development and finance affordable housing in communities across Michigan.
- Helped thousands of families buy homes through the Down Payment Assistance and MI Home Loan Mortgage Programs.
- Helped tens of thousands of families stay in their homes and prevent foreclosure with the funding from the Michigan Homeowners Assistance Fund.
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