A new report from Gov. Maura Healey’s office finds the state needs to increase its housing supply by at least 220,000 units between now and 2035 to stay competitive and lower housing costs.
Initial results of the Healey-Driscoll Administration’s comprehensive statewide housing plan, “A Home for Everyone: A Comprehensive Housing Plan for Massachusetts,” finds housing production in the Bay State needs to increase to meet community needs and lower costs statewide.
Developed in consultation with the Housing Advisory Council, the plan is part of the $5.1 billion Affordable Homes Act Gov. Healey signed into law last August.
Providing a statewide perspective, as well as data and strategies for each region in the state, the plan analyzes the state’s housing needs. The analysis provides a comprehensive look at the state’s housing situation and outlines strategies to boost production, preserve and improve existing housing, assist those facing homelessness and use housing to promote economic mobility for all Massachusetts residents.
According to the plan, the 220,000 units needed between now and 2035 need to come from every region of the state to reach that target.
“For the first time, Massachusetts has a statewide housing plan,” said Gov. Maura Healey. “Our administration is not kicking the can down the road when it comes to addressing the high housing costs that are holding too many of our residents and our businesses back.
“This plan tells us exactly where we need to go and how we can get there to build hundreds of thousands of new units and make sure that everyone – our teachers, nurses, small business owners, seniors and families – can afford homes in our state.”
Greater Boston Real Estate Board CEO Greg Vasil called the release of the housing plan a necessary reminder that state and local leaders must prioritize reducing red tape to incentivize housing creation across all price points.
“Residents and employers are being driven out of the state due to astronomical housing costs that could be mitigated through significant increases in housing production,” Vasil said. “State leaders must be bold, forward thinking and avoid putting a bandaid on the problem. The most well-intentioned policies, like a sales tax on real estate designed to create housing, will inevitably drive up costs and become a barrier to affordability in the long run.”
Housing has been a top priority for the Healey Administration.
In October, the administration awarded $161 million in grants to 313 local economic development projects in 171 communities to help create thousands of additional housing units statewide.
That came on the heels of Healey signing the $5.1 billion Affordable Homes Act into law in August, paving the way for the production, preservation and rehabilitation of more than 65,000 homes across the state over the next five years.
“While we know there is a lot of work to do to increase housing production and lower costs across our state, we have the tools and strategies in place to do it,” said Lt. Gov. Kim Driscoll. “From the Affordable Homes Act and the MBTA Communities Law, we have the opportunity to really tackle our housing challenges in a way that recognizes the unique needs of each of our 351 cities and towns. This work is essential for our state’s competitiveness, and it will be good for our communities, workforce, businesses and quality of life.”
A digital version of the plan, which will include an interactive resource center and production tracking guide, will be launched in the spring.