CMHA is Re-Imagining Affordable Housing
Cincinnati Metropolitan Housing Authority had the great opportunity to sponsor and participate in the housing symposium, Closing the Wealth Gap: Race, Wealth & Homeownership. The conference explored ways to boost black and brown communities through homeownership which builds individual wealth and will ultimately help produce diverse, equitable and vibrant communities across Hamilton County. A significant reason for the wealth gap is the difference in homeownership between blacks and whites according to data presented at the conference. It also stated that black homeownership in Cincinnati is around 31% and homeownership for whites is approximately 73% -- creating a 42% gap. The end goal of the conference was to shine a light on the inequity and discuss how to address it in our area.
The conference also addressed the affordable housing crisis. As the largest provider of affordable housing for the county, I was honored to represent Cincinnati Metropolitan Housing Authority by serving as a moderator and speaker during the conference. The combination of our economy, the need for jobs that pay a living wage and the need for affordable housing created a perfect storm for the conversations that took place. Information was shared about the number of families on our wait lists, the voucher holders currently looking for homes, and the average income for families. There is a relatively large gap in wealth. Voucher holders make $11,532 on average while Asset Management families earn $10,360 compared to the *$60,198 median income for Hamilton County. Public and private partnerships and ways to increase self-sufficiency so families move from renters to home owners was also discussed. As you know, those are key factors of the CMHA Mission. We develop housing that provides homes for people of various economic backgrounds, those mixed communities are what will make our community grow. Increasing wealth for families doesn’t end with money, social equality and balance is also needed. The West End Choice Neighborhood Plan currently being developed is a perfect example of residents, community stakeholders and CMHA working together to devise a neighborhood transformation that will potentially knockdown barriers and create a collective mix of families living and working together.
*Data from Census Reporter ACS 2019
Lastly, I’d like to take this opportunity to invite you to attend the Grand Re-Opening of Pinecrest. The bold transformation of the Price Hill hi-rise was completed ahead of schedule. We will provide an inside look at the renovations on November 17, 2021. We are Re-Imagining Affordable Housing.
Gregory D. Johnson, MS, EDEP, PHM
Chief Executive Officer