Richfield’s Inclusionary Housing Policy works to increase both affordability and accessibility. We have strived to increase the amount of housing available in our city. There are still items to work on:
Richfield has a racial disparity in home ownership rates. First-time homebuyer loans are one way to address this issue, but we need to do more.
Naturally occurring affordable housing (NOAH) in our city needs to be preserved so that residents have quality, affordable housing options. The Apartment Remodeling Program and Transformation Home Loans work to meet those needs. We also need to focus on making our NOAH more accessible for people with disabilities.
The city has a lot of moderately affordable housing options, but very few deeply affordable choices. Deeply affordable housing often requires a partnership between government, nonprofits and developers. It also serves the needs of those residents who earn 30% of the area median income.