COLUMBUS, Ohio (WCMH) -- Affordable housing is central to Columbus' proposed $1.23 billion budget for 2025, with Mayor Andrew Ginther allotting over $100 million to affordable housing efforts.
Ginther announced next year's general fund budget proposal on Wednesday, which allots $83 million from affordable housing bonds and federal grants to bring more affordable housing to Columbus. Another $4.3 million would go to staffing an affordable housing team, and $10 million more would go to nonprofits to help those who are struggling most in the city.
“It's truly been something to see our city change and grow so much in recent years, especially when compared to so many others throughout Ohio and across the nation that have struggled to gain a foothold in the post-pandemic economy," Ginther said. "As one of the fastest growing cities in America, this budget's scope and ambitions reflect our historic growth.”
Gitnher said he hopes the $10 million allotted to support nonprofits help balance the effects of the housing crisis, which he said has negatively affected and exploited the city's "most vulnerable." Ginther pointed to resident evacuations at Latitude 525 and Colonial Village due to unlivable conditions, saying the city needs to help residents who are being taken advantage of.
The administration division allocated $5.7 million of this funding to support homeless prevention, with the rest working to advance affordable housing initiatives. Various city programs dedicated to supporting citizens are among those receiving funding, such as CelebrateOne and the Columbus Women's Commission, which both dedicate resources to helping women secure safe and affordable housing.
Funding is also allotted to individual residential support. The Division of Economic Development will use $250,000 to provide homebuyer counseling and other support services. The Affordable Housing Trust, which addresses housing shortages for working families, would get around $2.5 million in city funding for 2025. Another $800,000 is allotted for critical home repair grants, providing funding to homeowners for necessary safety improvements.
Residential permits are on track to be up 21% from 2023, Ginther said, meaning 21% more new residential units will have been built in Columbus this year. He said the city will continue dedicating resources to his Columbus Housing Strategy, which advocates for the city to build 200,000 more housing units between 2022 and 2032.
Ginther said one of his strategic priorities is ensuring no resident pays more than 30% of their monthly income to live "in the neighborhood of their choice." Among Columbus' less affordable neighborhoods is German Village, which has median home prices of around $550,000 and average rent for a one bedroom around $1,500 a month, according to Nov. 11 estimates from German Village Real Estate.
According to MIT's living wage calculator, the cost of living in Columbus for one adult with no children is around $43,600 per year before taxes. Ginther's goal of 30% of that income would only be $13,080 before taxes, about $5,000 short of even a one-bedroom in German Village or other similarly priced neighborhoods. This 30% goal was also in place in 2024.
Columbus' City Charter requires the mayor to present a budget proposal to City Council on or before Nov. 15 each year. Council will begin deliberating the budget at its upcoming meetings, including hearing from stakeholders and residents, and is expected to approve an amended budget in early 2025.
