Much has been said about the potential of the downtown Silver Spring rental market to stay profitable for developers, but what about affordability? What can be done to ensure that the neighborhood remains a place where people of all income levels can continue to call home?
Dan Reed, local development expert and blogger at Just Up the Pike, published an analysis of the Silver Spring rental market on Greater Greater Washington, attempting to answer just that question. He found that the key may be building even more housing in Silver Spring.
Here's an excerpt:
While there are more affordable alternatives, the area as a whole has become more expensive in the past 10 years. Persistently low vacancy rates suggest there's a lot of demand for housing as well, further pushing up rents. It appears that for filtering to take effect, the area may need even more housing than it already has.