Study shows significant ROI on Wasatch Back affordable housing

The Housing Resource Center's housing advocate, Megan McKenna and housing navigator, Angelica Espinoza. Photo: Housing Resource Center

Mountainlands Community Housing Trust anticipates a $585K return per unit

SUMMIT COUNTY, Utah — At the Council of Governments (COG) meeting on Tuesday, July 16, Megan McKenna, housing advocate for Mountainlands Community Housing Trust, and Andrew Knudsen, managing principal at Economic & Planning Systems, presented the Economic Impact of Affordable Housing study for the Wasatch Back region.

The presentation highlighted the substantial economic and community benefits of investing in affordable housing. Key findings included a projected $585,125 return per housing unit, resulting from a combination of reduced commute times, increased volunteerism, and improved economic activity. Knudsen emphasized, “The return on public investment in affordable housing is significant, with a multiplier effect of 1.46 times for ownership and 5.85 times for rental units.”

The study also detailed that affordable housing could reduce 66,000 annual commute hours, translating to a $1.2 million annual savings in commute time value. Additionally, the investment is expected to generate $180,000 annually through increased student enrollments and $150,000 through volunteerism.

COG members expressed concerns about the feasibility and funding of such projects, to which McKenna responded, “Investing in affordable housing not only addresses immediate housing needs but also fosters long-term economic growth and stability.”

The community is encouraged to participate in the ongoing discussions as the Mountainlands Community Housing Trust plans to present the findings in Summit and Wasatch counties next month.