What is workforce housing?
Housing is affordable when households, renting or purchasing, are able to pay their housing costs and still have sufficient income to meet other basic needs such as food, clothing, medical care, education, transportation. One benchmark is that housing is affordable if it costs no more than 30% of a household’s gross income.
Workforce housing is a term used to describe housing affordable to gainfully employed households with an earned income insufficient to pay for quality housing reasonably close to their workplace.
Challenge – Wyoming’s Workforce Housing Shortage:
Housing affordable to Wyoming’s workforce is in very short supply, and the need is projected to increase through at least 2040
The Cheyenne Housing Authority is sponsoring the formation of a new nonprofit organization with a core mission to create and maintain housing affordable to Wyoming’s workforce, and to support successful homeownership through the provision of homebuyer and financial education. This organization will initially focus on Cheyenne, and then possibly expand its operations statewide.
Habitat for Humanity, manages a homeowner rehabilitation program in Cheyenne. If you are a low-income homeowner living within the Cheyenne city limits contact them to see if you quality. Habitat Repairs is a program that helps homeowners with their home repairs. situation. Habitat coordinates the repairs required to make a house. Low-income homeowners often need to…
About the Low Income Energy Assistance Program (LIEAP) LIEAP pays part of winter home heating bills for eligible people (November through May). Seniors (age 60+), those with disabilities, households with young children (age 5 and below), and families with the most need (lowest incomes and highest energy bills) are given program priority. LIEAP also assists with energy-related…
The Wyoming Homeowner Assistance Fund (HAF) Program includes help for: WYOMING HOUSING OWNERS with MORTGAGE PAYMENTS Assistance is available to homeowners who have past due payments on utilities, property tax, homeowners insurance and homeowners association dues. HAF Program accepts applications for eligible homeowners to receive up to three consecutive months of mortgage payments. Priority will be given to delinquencies over…
What causes a shortage of workforce housing? There are a number of factors that influence the demand for workforce housing in Wyoming, including: – Strong economic growth and/or increased housing demand has pushed housing prices upward. – Workforce wage increases have not kept pace with rising housing prices. – Wages in service industries, entry level employment,…