Crossposted from our coalition partner Center for Neighborhood Technology.
The U.S. Department of Housing and Urban Development (HUD) just announced that it has awarded a two-year contract to Manhattan Strategies Group and subcontractor Center for Neighborhood Technology (CNT) to create a national housing and transportation affordability index.
“Affordability is much more than just paying the mortgage, it involves other costs like transportation, gas, and utilities,” said HUD Secretary Shaun Donovan in a press release. “The availability of a national affordability index will provide consumers better information about the true costs of a home by accounting for that housing’s proximity to jobs, schools and other services. Our goal with the creation of this housing and transportation index is to provide American families with a tool that can help them save money and have a better understanding of their expenses and household budget.”
As a subcontractor, CNT will use its years of experience in creating the Housing + Transportation (H+T®) Affordability Index (and Abogo®) to assist MSG and HUD in exploring how the agency can incorporate this sort of metric into its work.
Click here to read the HUD press release in full.