Increases of up to 104 percent in insurance rates are squeezing nonprofit affordable housing developers as rates rise around the country.
Rising insurance costs are burdening affordable housing developers, who often pay 10 to 15 percent more than market-rate developers, according to a report by Nancy Marshall-Genzer for Marketplace.
One insurance co-op, the Housing Partnership Insurance Exchange, saw rate increases between 34 percent and 104 percent for next year. “Whether it’s flooding or fires on the West Coast, we believe that those are adding inflationary pressure to our premiums,” said Paul Bernard, vice chair of the Exchange. For the nonprofits that manage affordable housing, this often means shifting funds from resident programs.
As extreme weather events like wildfires and flooding make the market riskier in many parts of the country, insurers have raised rates and started leaving some states, such as California, altogether.
FULL STORY: Affordable housing hammered by rising insurance rates
Reining in Rising Property Insurance Rates
There are many proposed ways to mitigate the property insurance cost crisis. They all require action from federal or state governments.
A Big Picture of the US Housing Market
A new report highlights the factors driving up housing costs around the country.
Affordable Housing: A Primer
A guide to affordable housing definitions and federal housing assistance programs.
How Would Project 2025 Affect America’s Transportation System?
Long story short, it would — and not in a good way.
California Law Ends Road Widening Mandates
Housing developers will no longer be required to dedicate land to roadway widening, which could significantly reduce the cost of construction and support more housing units.
But... Europe
European cities and nations tend to have less violent crime than the United States. Is government social welfare spending the magic bullet that explains this difference?
California Room to Roam Act Prioritizes Wildlife Connectivity
A new state law requires new development and infrastructure to minimize disruption to local wildlife habitats and migration patterns.
Oregon Releases Historic Preservation Plan for Next Decade
A plan from the state’s State Historic Preservation Commission outlines priorities for preserving Oregon’s cultural and historic resources.
Austin’s Vision for I-35 Cap Parks Takes Final Shape
The city’s plan includes parks, entertainment pavilions, commercial space, sports fields, and other facilities over 30 acres of deck parks spanning a sunken Interstate 35.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Placer County
Mayors' Institute on City Design
City of Sunnyvale
HUDs Office of Policy Development and Research
Mpact (formerly Rail~Volution)
Cornell University's College of Architecture, Art, and Planning (AAP), the Department of City and Regional Planning (CRP)
Lehigh Valley Planning Commission
City of Portland, ME
Baton Rouge Area Foundation