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Housing Data & Facts

Thursday, April 18, 2024
  • Through FY24, the City has appropriated more than $358 million to invest in affordable housing initiatives. These funds have been used by the City through the Affordable Housing Trust to preserve or create more than 4,000 affordable units to date.
  • In 2019, a commitment was made to double the amount of funds dedicated to affordable housing within 3-5 years.
  • City funding for the Affordable Housing Trust in FY24 ($41.1 million through property taxes, department revenue, Free Cash, and CPA funds) was a 202% increase from the amount of funding provided in FY19.
  • City funding for the Affordable Housing Trust totals $188.4 million from FY19-FY24 inclusive.
  • It has been the City’s practice since FY20 to use 25% of building permit revenue as a revenue source for supporting the Affordable Housing Trust.
  • As of June 30, 2023, the Cambridge housing stock included 57,894 units either available for occupancy or under construction, including 8,591 affordable housing units.
  • Over 750 units of housing are currently under construction. 3,950 units are currently permitted. This robust housing pipeline provides the necessary support for continuing population growth for the foreseeable future.
  • As of June 30, 2023, the City's affordable housing stock included 8,591 housing units of all types, including rental and homeownership units affordable at a variety of income levels, with long term or permanent restrictions to ensure affordability.
  • While the majority of new units are currently marketed as rentals, the 2018-2022 ACS found 34% of occupied housing units to be owner-occupied and 66% to be renter-occupied.
New affordable housing units under construction at 605 Concord Avenue.
Affordable development under construction at 605 Concord Ave.
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