First, a summary of where things currently stand:Nearly three years after Flagstaff City Council declared an affordable housing emergency, housing costs are still high across the city while several local efforts to increase affordability are underway. In August, the median sales price of residential homes in Flagstaff was $700,000, according to the Northern Arizona Association of Realtors, an increase from August 2022's median price of $549,900. A housing gap analysis found the city needed an additional 7,976 market rate houses "to free up pressure on Flagstaff's housing stock and catch up with population growth." The housing plan’s main goals are to impact 6,000 or more low- to moderate-income residents, and to create or preserve 7,976 housing units by 2031 (7,178 market rate and 798 affordable units). An Aug. 14 update to its website shows that since Dec. 15, 2022, the plan has impacted 192 residents and created or preserved 689 market rate units and 108 affordable units, with another 201 units committed.

Source: Daily Sun September 20, 2023 10:18 UTC