Earlier this year, the median home sale price in King County surpassed $1 million, far out of reach for most residents. Renting isn’t so affordable either. Fair-market rent on a “modest” two-bedroom rental is $2,645, according to the U.S. Department of Housing and Urban Development. A household needs to earn more than $105,000 a year to afford that without being considered cost-burdened.
Local, regional and state officials have ramped up investments in the construction of subsidized affordable housing for the lowest-income residents in the past decade, though the need for housing still far surpasses the supply.
The same effort hasn’t been made for middle-income housing, but that is changing
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