Creating affordable housing is important to Dover. We need to address the high cost of housing for the city to be attractive to new taxpayers. Among other benefits, affordable housing increases tax revenue, reduces homelessness costs, and attracts talent. Through strategic planning, we can make affordable housing a reality in Dover, and increase economic resilience.
Stimulates the Dover Economy
Investing in affordable housing directly creates jobs. Not only jobs in the construction industry, but also secondary jobs in related industries such as architecture, engineering, material suppliers, and real estate businesses. According to the National Association of Home Builders, the construction of 100 affordable rental homes generates significant economic benefits:
- $11.7 million in local income.
- $2.2 million in taxes and other revenue for local governments.
- 161 local jobs.
On an annual, recurring basis, the benefits are as follows:
- $2.6 million in local income.
- $503,000 in taxes and other revenue for local governments.
- 44 local jobs.
Increases Local Spending
More affordable housing means more disposable income for residents. When people spend less on housing, they can spend more on local goods and services. This increase in local spending stimulates the economy, creates jobs, and boosts tax revenue. If local businesses are important to you, so is affordable housing.
Attracts Working Taxpayers
Affordable housing will help Dover to attract and retain a strong workforce. Local workers from various fields, including education, healthcare, and public services, can afford to live close to their workplaces. This can reduce traffic congestion, and eliminate or delay the need to build/expand roads to accommodate more vehicles.
Reduces City Spend
Affordable housing helps to reduce public costs by alleviating the need for emergency services like healthcare and shelters. It is also linked to better health outcomes, reducing the strain on public health services.
Affordable Dover Is a Better Dover
Affordable housing benefits those who need it and contributes to economic health. For those worried about their tax bill, the affordability of Dover as a place to live is of immediate significance. The City can either raise taxes, or it can increase the number of taxpayers. If it cannot add taxpayers, it will raise taxes.
Regulatory changes, inflation, infrastructure obsolescence, and labor scarcity all increase costs — even if the City intends only to maintain steady-state. Adding taxpayers provides relief. The creation of affordable housing is a rare convergence of empathy and economic advantage.
This is how Dover, New Hampshire reduces our homeless population.
Increase the tax base, support local businesses, and build economic resilience.
Build infrastructure for the future when building today.
Empower local businesses to access more customers, and bring more revenue to Dover.
How Dover wins with through public education. Strong schools deliver smart kids and attract new taxpayers.
Improving communications, increasing transparency, and solving information overload.
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