Meet Our Neighbors: A Snapshot of Our Resident Community

Who lives in affordable housing? It's a question that's often answered with assumptions. Our latest resident profile tells a more nuanced story.

This year, we analyzed data from 383 households living in our multifamily apartment communities to better understand who our residents are and how affordable housing helps people remain part of the communities they call home.

One of the strongest themes is housing stability. Residents stay in their homes for an average of nearly seven years, demonstrating that affordable housing provides more than a roof over someone's head—it creates long-term stability. Stable housing allows seniors to age in place, families to establish roots, and individuals to remain connected to their jobs, healthcare providers, and neighbors.

The data also challenges some common misconceptions about who lives in affordable housing.

While many residents are older adults living on fixed incomes, a substantial share are working. About one-third of households report employment income, making it the second most common income source after Social Security. Nearly half of households receive Social Security, reflecting the large number of retirees in our communities who have earned retirement benefits over a lifetime of work. By comparison, only about 3% of households receive General Assistance, one of the smallest income categories in our resident population.

Many households also rely on more than one source of income to make ends meet. Employment income is often combined with Social Security, pensions, or disability benefits, illustrating the reality that many residents piece together several modest income streams rather than relying on a single source.

Our residents represent some of the lowest-income households in our region. More than half qualify as Extremely Low Income, and approximately 70% receive rental assistance to help keep housing affordable. On average, the apartments in our portfolio rent for about $1,250 per month, while residents pay an average of $731 per month out of pocket. Rental assistance bridges that gap, making it possible for seniors, working households, and people with disabilities to remain safely housed while paying a rent that reflects their income rather than the full cost of housing.

Our resident community includes people from a variety of racial and ethnic backgrounds. Among households that reported race, 93% identified as White, while 7% identified as Black, Asian, American Indian, multiracial, or another race. Approximately 2% of households identified as Hispanic or Latino. Like the broader Addison County community, our residents come from a range of backgrounds and life experiences, united by the need for safe, stable, and affordable housing.

Ultimately, these numbers reinforce something we see every day: affordable housing serves seniors living on retirement income, working adults, people with disabilities, and families striving to remain in the communities they call home.
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Behind every statistic is a neighbor. Affordable housing isn't simply about lowering housing costs—it's about preserving stability, strengthening communities, and ensuring that people of all backgrounds and income levels have the opportunity to call Addison County home.