Georgia is one of the fastest growing states in America. While many things have contributed to the success that we all share, our continued growth is dependent on maintaining the health of our housing market. Current and prospective households in this great state deserve quality housing choices to offset the historic national shortage.
State Rep. Billy Mitchell
Our essential workers, veterans, law enforcement officials, firefighters, teachers and other middle-income earners benefit from multiple ways to access quality housing, whether through homeownership or the option to rent.
Today, 15 million American households are already making the conscious choice to rent single-family homes. In fact, single-family rentals comprise 35 percent of Georgia’s housing market. More than 90 percent of these rental homes are owned by mom-and-pop investors. Restricting such a significant portion of the market would be detrimental to the residents, the owners and the continued growth of this state.
In today’s economy, single-family rental homes meet the needs of households moving to our state and provide options for changes brought about by life events or new jobs. Custom, high-quality rentals deliver the benefits of single-family living— including greater privacy and space to accommodate work and learning from home— with the convenience of professional maintenance, lawn care and landscaping. These beautiful new homes offer the flexibility of leasing in vibrant, well-located neighborhoods with proximity to quality school districts, public transportation and retail centers. Other households want a high-quality place to live as they save for a down payment, as it takes median earners over 10 years to save for a 20 percent down payment.
State Rep. Dale Washburn
Single-family rental homes and communities drive economic growth and activity, adding to the local tax base and bringing stability, vitality and liveliness to neighborhoods. The average resident stays in a single-family home for three to four years. Ironically, this is the same amount of time most young families live in the first home that they own.
However, new investments in rental housing do not detract from the ability for others to purchase homes. Proving this fact, the amount of homeownership in the United States increased over 10 percent during the last five years, while the amount of rental housing has increased less than percent, according to U.S. Census Bureau data. Additionally, the same data show that the national home ownership rate is nearly two percentage points higher today (65.4 percent) than it was five years ago (63.5 percent). During this time, the entire housing market has seen appreciation and high occupancy. Both rental and ownership options are adding essential housing supply to the market.
Yet, inexplicably, many local governments in Georgia are placing roadblocks, restrictions and moratoriums in place to prevent the construction of quality single-family rental homes. These actions are not only counterproductive to local economies, but they also harm those hard-working veterans, law enforcement officials, firefighters, teachers and other professionals who contribute to our society and live or invest in quality rental housing.
Local governments are attempting to segregate occupants based on whether they pay their monthly check to a landlord or a mortgage company, thus restricting over 35 percent of the overall housing market. That is why we are supporting legislation, House Bill 1093, which will prevent local governments from enacting restrictions that treat a single-family home any differently based on whether it is leased or owned.
We believe strong communities have long been central to our lives, and single-family rental homes have emerged as a crucial component in the growth and enhancement of safe, prosperous and successful neighborhoods. Our focus should be on providing flexibility and access to high-quality housing in an undersupplied market.
So, let’s ensure that obstacles do not stand in the way from granting hard-working families access to the quality housing they deserve so that our housing market and the state of Georgia can continue to grow.
Republican Rep. Dale Washburn represents north Bibb and Monroe counties and Democratic Rep. Billy Mitchell represents a portion of DeKalb County.
