Washington, D.C. (January 13, 2023) – The National Rental Home Council (NRHC) commends Georgia Governor, Brian Kemp, for remarks this week calling for the state to increase the supply of affordable and workforce housing. In remarks delivered during an on-stage interview at the annual issues conference of the Georgia Chamber of Commerce, Governor Kemp cited a lack of housing as an immediate risk to the state’s economic development potential. Kemp called on state leaders to examine impediments to new development and investment posed by burdensome and restrictive housing legislation and regulation, particularly at the local level.
“Governor Kemp framed the issue perfectly. Housing is a key driver of economic development,” said David Howard, chief executive officer of the NRHC. “A robust supply of housing, especially affordably-priced housing in proximity to employment centers, is an essential component of any successful economic and workforce development program.”
Recently published data from the Bipartisan Policy Center show how the growth of housing in Georgia has lagged both population and household in the state over the past 10 years (see: www.bipartisanpolicycenter.org).
Further data from Up For Growth’s 2022 Housing Underproduction in the U.S. report reveal Atlanta has the ninth highest level of housing underproduction in the country, at nearly 100,000 units (see: www.upforgrowth.org). One of the consequences of the nation’s persistent undersupply of housing has been a corresponding shortage of single-family rental housing, traditionally a source of family-centered, affordably-priced housing critical to serving the needs of America’s workforce. In both the state of Georgia and the Atlanta region the share of single-family rental housing is less than it was in 2016.
One of the ways the single-family rental home industry is responding to the continuing demand for quality, affordably-priced housing in Georgia is through an innovative approach to expanding the supply of homes: building homes for rent. Known as “build-for-rent”, this segment of the housing market is comprised of new single-family homes – typically detached free-standing homes but also townhomes, duplexes, and other single-family home varieties – built expressly for the purpose of renting. Build-for-rent housing serves as a driver of economic growth for communities by creating healthy, thriving places that appeal to residents from a rich assortment of diverse backgrounds and experiences.
Currently in Georgia, there are nearly 6,000 units of build-for-rent housing either in planning or under construction. Unfortunately, build-for-rent projects in Georgia often face regulatory obstacles and scrutiny from local officials beyond what is encountered with typical housing developments. NRHC joins Governor Kemp in calling for policies and legislative initiatives designed to reduce burdensome and capricious local ordinances that hinder the further production of housing throughout the state.
About NRHC
The National Rental Home Council (NRHC) is the nonprofit trade association representing the single-family rental home industry. NRHC members provide families and individuals with access to high-quality, single-family rental homes that contribute to the vitality and vibrancy of neighborhoods and communities. For more information on NRHC or the single-family rental home industry visit www.rentalhomecouncil.org Contact: David Howard, dhoward@rentalhomecouncil.org