The Hidden Gem of Affordable Housing: Unveiling the Abundance of NOAH in the United States

When it comes to affordable housing in the United States, the conversation often revolves around government-subsidized projects or new developments. However, there’s a hidden gem that often goes unnoticed: Naturally Occurring Affordable Housing (NOAH). NOAH refers to residential properties that are affordable without the benefit of government subsidy. These properties are typically older and may not have the same amenities as newer, more expensive units, but they provide a crucial source of affordable housing for low and moderate-income households. In this article, we will delve into the abundance of NOAH in the United States and its significance in the affordable housing landscape.

Understanding NOAH

Naturally Occurring Affordable Housing (NOAH) is a term used to describe rental housing that is affordable to low and moderate-income households without the need for government subsidies. These properties are often older and may not have been built with the intention of being affordable, but due to factors such as age, location, and condition, they rent at rates that are affordable to lower-income households.

The Abundance of NOAH in the United States

According to a study by the Urban Land Institute, NOAH units make up a significant portion of the affordable housing stock in the United States. The study found that in 20 major U.S. markets, NOAH units accounted for between 54% and 93% of all rental units affordable to households earning 80% of the area median income. This demonstrates the critical role that NOAH plays in providing affordable housing options for low and moderate-income households.

The Importance of Preserving NOAH

Despite the abundance of NOAH, these units are at risk of being lost. As property values increase, owners of NOAH units may be incentivized to sell or redevelop their properties into more expensive housing. This can lead to a loss of affordable housing options for low and moderate-income households. Therefore, preserving NOAH is a critical component of maintaining affordable housing stock in the United States.

Strategies for Preserving NOAH

There are several strategies that can be used to preserve NOAH. These include:

• Acquisition and preservation funds: These funds can be used to purchase NOAH properties and maintain them as affordable housing.
• Policy interventions: Policies can be implemented to incentivize the preservation of NOAH, such as tax incentives or zoning changes.
• Public-private partnerships: Governments can partner with private entities to preserve NOAH. This can include providing low-interest loans or grants to property owners who agree to maintain their properties as affordable housing.

In conclusion, NOAH represents a significant portion of the affordable housing stock in the United States. By recognizing and preserving these units, we can ensure that affordable housing remains accessible to all households, regardless of income.