Too many Olympians are facing housing instability because of rising rents | Opinion

A recent column by Todd Monohon incredulously claims there is no evidence of a housing “crisis.” Such an incredibly out-of-touch view leaves one wondering just what planet Mr. Monohon was writing from? Everywhere you look are mountains of empirical evidence confirming that a housing crisis is affecting homebuyers and renters throughout Western Washington.

For homebuyers in Thurston County, the high price of homes and mortgage rates are making home ownership impossible at truly historic levels. From 2013 to 2023, the Housing Affordability Index for Thurston County fell a whopping 62%! Potential home buyers are facing a serious affordability crisis as mortgage rates sit at 7% and the median home price reaches nearly $600,000.

The situation is even more dire for Olympia area renters. Rental rates in relation to monthly incomes have most Olympia renters now facing a very serious condition: housing instability. Housing instability is defined as paying more than 30% of your monthly income toward rent. Research shows that once housing instability hits a household, the likelihood of homelessness, mental health issues and/or employment instability rises significantly.

According to the National Low-Income Housing Coalition, the mean wage for Olympia renters is approximately $16.30 per hour, just a few pennies above the current minimum wage. To avoid housing instability, an Olympia renter must find an apartment for $850 per month or less.

However, Renter.com shows the average fair market value for a 1-bedroom apartment in Olympia is $1,500 per month. That means over half of Olympia renters are experiencing housing instability today and would have to work 1.75 full-time jobs to attain housing stability.

When so many hard-working people in our community find themselves at risk of losing the roof over their (and perhaps their children’s) head, that’s truly a housing crisis.

Clearly, the cost of housing has gotten way out of hand and this is harming our community greatly. The most comprehensive study of homelessness, conducted by researchers at the University of California at San Francisco, concludes that the major driver for homelessness is tenant’s’ inability to afford rent. It’s not mental illness or homeless people moving to communities with more support — it’s simply all about the cost of rent being too high for their incomes.

Homelessness in Olympia has nearly doubled since 2006. The public cost of addressing it is huge. The cost to human lives is even larger. I’m not sure how someone living in the Olympia community could question whether our community has a serious housing crisis when we can see hundreds of people everyday who have no shelter.

The landlord lobbyists will talk about the need for renters to share living spaces. But how are households with young children supposed to do that? How do people with mental health issues accomplish that? These are people who help prepare and serve food in our restaurants, care for our children, care for our older parents, staff our retail stores, and serve us coffee, and they deserve to have housing without fear of yet another rise in the rent leaving them homeless.

How did this housing instability arrive so suddenly at our community’s doorstep? Well, we all know about the inflation we’ve experienced over the last five years. U.S. inflation (CPI) over this time period has been approximately 20%, but according to the Thurston Regional Planning Planning Council, rents have risen nearly 50% in our area. Clearly, widespread housing instability is the result of fast-rising rental rates.

The empirical evidence is everywhere and it’s compelling: We have a serious housing crisis in our community, especially for renters. To fix this problem, we must acknowledge the obvious fact that too many Olympians are facing housing instability. And we must address the rising rents that are causing it.

Dave Toler is the Campaign Coordinator for Olympia for All’s Housing Justice Campaign.

This story was originally published January 24, 2024 at 5:00 AM.