For many residents, Chattanooga is their chosen place to live, work + play, but let’s talk about that live part.
The topic of affordable housing is a hot + complex one. 🏘️
The word “affordable” is subjective, apartments are sprouting up faster than marigolds in springtime + the narrative from many developers is that they want to bring products people can afford.
What’s affordable?
But what is affordable depends on each person’s circumstances. Chattanooga Neighborhood Enterprise and the government define affordable using the 30% rule — that if a person is spending more than 30% a month on housing, then it’s considered to be a cost burden or unaffordable.
A recent CNE report found that $850 a month is as much as most renters can afford. But the average one-bedroom apartment is priced at more than 25% above that, CNE reported.
Many new downtown apartments start at $1,000+ a month. For example, new North Shore apartments start at $1,199 a month (but there’s free parking.)
Readers respond
When we shared news of that development, several readers commented about how unaffordable that price point felt.
“How can anyone pay that much?” — Norman L.
“$1200 per month is nowhere near affordable and Id also like to say that if I ever had to pay to park at my own home, I wouldnt live there anymore”. — Lonnie H.
So that made us wonder — what’s affordable to you? Tell us in the poll below.
