Greensboro City Council looks for next steps in review of 10-year plan to increase housing

Greensboro City Council discussed increasing assistance for homebuyers in a review of its 10-year plan to address the city's housing shortage on Thursday.

Housing GSO has four goals: provide affordable rental homes, reinvest in neighborhoods, increase homeownership, and create more supportive housing.

The initiative is expected to cost $50 million. Housing and Strategy Assistant Director Cynthia Blue said nearly 800 new units have been completed or are in the process of being built since the plan started in 2020. She said expansion of assistance for homebuyers and low-income homeownership should be considered next.

"It's getting harder and harder for folks at lower and even moderate income levels to afford the housing that is available in Greensboro," said Blue.

According to a study released Thursday by the Joint Center for Housing Studies of Harvard University, similar trends are being seen across the country. A record half of U.S. renters spent more than 30% of their income on rent and utilities in 2022.