Athens-Clarke County Commissioners are working with an outside consulting firm regarding the challenges facing the city when it comes to affordable housing. They include rental affordability, affordable housing systems, and home ownership. The report showed the homeownership rate in Athens is just 47 percent, compared to 64 percent in the state and nation as a whole. District 8 Commissioner Carol Myers discussed those challenges.
She says unfortunately, the situation is even more daunting for Black residents, who are rejected for home mortgages at a rate of two to four times more than those of other races.
Higher earning Black families are no exception. The report showed Black families earning $125,000 a year has the same chance of getting a mortgage approved as a white family making $50,000 a year.
Renters are facing difficulties as well, with 11,000 renter households making less than $35,000 a year in Athens.
