SANTA FE, N.M. (KRQE) – Each year, Santa Fe receives federal funding for affordable housing. In return, Santa Fe has to keep tabs on the community impact of those dollars, called the Consolidated Annual Performance Evaluation Report (CAPER).
The most recent report shows that in 2021, there was a shortage of over 1,900 rental units for households earning less than $25,000. But that’s an improvement (decrease) of about 50% from 2015.
The housing situation has improved not because there are more affordable rental options – in fact, there are about the same number from 2015. Rather, the housing situation has improved because there are fewer renters earning less than $25,000 per year, the report shows. The city says many have simply moved out of Santa Fe to cheaper locations.
The City of Santa Fe points out the fact that the number of units available does represent progress, however. “The city’s investments in affordable housing have helped maintain the supply of affordable units that would have otherwise migrated to higher price brackets under the tight current market conditions,” the report notes.
The report also lays out some of the projects Santa Fe and community partners are working on to improve housing. For example, Mortgage Principal Reduction Assistance (Homewise), received more than $140,000 in funding for 2023-2024 to try to help reduce the principal on some home loans.
The public can also comment on the CAPER report. That public comment period runs until September 15, 2023. Comments can be sent to Cody Minnich at cjminnich@santafenm.gov or 505-955-6574. There will be a public hearing on September 13 at 7 p.m. at the regular city council meeting.
