San
Francisco-based

Pacaso,
a
tech-centric
real
estate
marketplace,
released
a

report
Monday
unveiling
the
top
U.S.
metro
areas
that
are
embracing
new
development
and
“creating
a
more
diverse
and
plentiful
supply
of
homes.“

The
report
delves
into
the
“Yes
in
My
Backyard“
(YIMBY)

movement,
which
involves
numerous
strategies
to
improve
housing
supply
and
lower
the
cost
of
living
for
homeowners
and
renters
alike.

As
Pacaso
explained,
these
tactics
can
include
partnerships
between
local
governments
and
residents
to
rezone
neighborhoods
and
allow
for
greater
density.
Many
cities
across
the
country
are
accomplishing
this
through
co-ownership
models
and
the
creation
of
more

accessory
dwelling
units
(ADUs).

“When
it
comes
to
solving
the
housing
crisis,
we
need
a
dual
approach:
more
construction
and
more
efficient
use
of
existing
housing
stock,“
Pacaso
co-founder
and
CEO Austin
Allison,
a
2022


HousingWire
Tech
Trendsetter,
said
in
the
report.

“Communities
across
the
country
increasingly
are
open
to
innovative
solutions,
including
higher
density
and
co-ownership
models
that
maximize
the
functionality
of
available
homes.
Embracing
these
strategies
will
lead
to
more
options
for
homebuyers
and
better
use
of
our
limited
resources.“

According
to
recent

research
from


Realtor.com,
the
nationwide
housing
deficit
currently
stands
at
2.5
million
homes.

Other
estimates
are
much
higher.

Pacaso
said
that
these
shortages
have
been
exacerbated
by
various
types
of
“municipal
zoning
and
building
ordinances
[that]
have
historically
restricted

new
housing
construction.“
But
certain
areas
of
the
country
are
“proactively
addressing
the
housing
shortage,“
which
“underscores
the
importance
of
housing
solutions
and
the
positive
momentum
of
the
YIMBY
movement.“

In
tandem
with
data
research
firm

MetroSight,
Pacaso
analyzed
ZIP
codes
across
the
country
during
two
five-year
time
periods:
2008
to
2012,
and
2018
to
2022.
A
ZIP
code
was
classified
as
YIMBY-friendly
if
it
“experienced
sharp
growth
in
the
number
of
residential
units
with
relatively
little
growth
in
housing
prices.“

The
metro
areas
with
the
highest
shares
of
ZIP
codes
that
qualified
as
YIMBY-friendly
were
led
by

Washington,
D.C.
(71.2%)
and

Chicago
(54.3%).

In
and
around
the
nation’s
capital,
municipalities
are
adopting
land-use
policies
that
allow
for
more
types
of
housing,
the
report
noted.
In
Northern
Virginia,
for
example,
Arlington
County
passed
a
“missing
middle”
ordinance
last
year
that
allows
for
homes
with
up
with
to
six
units
to
be
built
in
areas
formerly
zoned
only
for
single-family
detached
homes.

In
Chicago,
only
7%
of
the
ZIP
codes
met
the
report’s
requirements
for
high
housing
demand,
but
these
areas
“strongly
correlated“
with
other
YIMBY
criteria.
The
report
noted
that
the
city

revised
an
ordinance
in
2021
to
encourage
the
development
of
affordable
housing.

Washington,
D.C.,
and
Chicago
were
the
only
major
metro
areas
in
the
country
where
more
than
half
of
ZIP
codes
met
the
YIMBY
criteria.
But
others
in
the
top
10
had
at
least
one-quarter
of
ZIP
codes
qualify.
These
include
Austin;
Minneapolis;
Columbus,
Ohio;
San
Antonio;
Philadelphia;
New
York
City;
Kansas
City;
and
Salt
Lake
City.

“It’s
great
to
see
examples
of
localities
that
are
advancing
pro-housing
policies
so
activists,
elected
officials,
and
agencies
can
mirror
their
success
in
more
places,“
Jessamyn
Garner,
communications
director
at
affordable
housing
advocacy
group

YIMBY
Action, said
in
the
Pacaso
report.

“In
the
coming
years,
it’s
crucial
that
these
policies
are
implemented
to
the
fullest
extent
possible
in
order
to
reduce
housing
prices
in
these
communities
and
beyond.“

Related