Two members of the Mighty Hero Homes team spoke in front of a Georgia Senate Study Committee looking into the urgent need for Veteran affordable housing in the state of Georgia on August, 21, 2024. As new construction permits in the Atlanta metro area have declined from 49% to 12% for the under $300,000 home price, our Veterans have felt the pressure surrounding housing affordability and the limited supply of affordable housing in the state. Mighty Hero Homes is perfectly positioned to address the affordable housing need in Georgia through the development of new, high-quality smaller footprint homes that will provide a low-cost entry point in safe, secure and stable communities. 

The Chairman of the Senate Study Committee, Chuck Payne (on left) and Senator Rick Williams (25th District - on the right)

As interest rates increased from 2.7% in the winter of 2021 to ,7.75% in late 2023, the demand for new home construction in the <$300k level plummeted to a 5 year low, but increased by +40% in the $300k - $600k range.  Meanwhile, the average home price in the greater Atlanta Metroa Area increased 54.7% since 2019, to $379,000. By way of comparison, it is the goal of Mighty Hero Homes to provide a 2-bedroom, 648 square foot home with a 144 sf covered porch for less than $200,000.

In the rental market, there were >134,000 fewer housing units with a monthly rental cost of -$1,000/month in the 5-County ATL region than existed in 2016. This points to increasing difficulty for mid-to-lower income households to find properly priced housing to meet their affordability needs. While HUDVASH vouchers are a great help to our veterans to help in finding affordable housing the growing problem is twofold; 1) access to the HUDVASH vouchers, and 2) finding landlords that will accept them. 

To learn much more about the affordable housing crisis affecting the veterans in our state and our organizations solution to the problem, please click the link below to hear our team's presentation and Q&A with the Georgia Senate Study Committee on Veterans Mental Health and Housing on Wednesday, August 21, 2024. 

See video link (live presentation begins at 32-minute mark):
08-21-2024 Senate Study Committee on Veterans’ Mental Health & Housing on Vimeo