Tacoma's Affordable Housing Crisis Facts Figures

Tacoma is grappling with a significant affordable housing crisis, driven by rising rents and stagnant wages, which has left many residents in financial distress. The Facts & Figures Blog aims to illuminate the depth of this issue, revealing that even those earning the minimum wage of $16. 28 must juggle multiple jobs just to afford housing. The average rental price in Tacoma stands at $1,675 per month, compelling workers earning the average wage of $26 per hour to devote nearly 50 hours a week to maintain housing costs below 30% of their income. Alarmingly, around 40% of households in Tacoma are classified as housing cost burdened or extremely burdened, signaling an urgent need for more affordable housing solutions.

A recent Wallethub study ranked Tacoma among the least renter-friendly cities in the nation, highlighting the significant barriers renters face. The blog also discusses ongoing eviction-prevention assistance requests in Pierce County, which have surged since the beginning of 2024. Additionally, it touches on innovative housing development trends, such as converting office spaces into residential units, to tackle the housing shortage. The article serves as a critical call to action for the city and its stakeholders to address the pressing affordable housing crisis.