Why Workforce Housing?

and how does it benefit Epping?

The integration of new and attractive workforce housing that is affordable for families and middle-income workers is essential for the sustainability of Epping’s local economy and businesses and for the overall fabric of this community. This is because those who are typically attracted to these types of residences are the bedrock of the community; they manage our businesses, save our lives, fix our cars, prepare our meals, and teach our children. For the Epping community to thrive, workers need access to affordable housing, businesses need access to local employees, and the community needs businesses and adequate housing for a robust tax base.

Why is Workforce Housing so Critical to Epping, the State of NH, and Our Future Generations?

Much like most other states, New Hampshire and its businesses have been hit hard by the COVID-19 pandemic and its effect on the available workforce; but this is not the first time NH towns, cities, and businesses have suffered from a labor scarcity. Because of the ongoing housing crisis in this state, younger workers and middle income families are finding it more and more difficult to locate affordable housing in New Hampshire. Epping is no exception to this dilemma. With fewer middle-income workers entering into Epping’s local economy, businesses will continue to face labor shortages and negative economic consequences.

Without a supply of affordable housing, Epping will lose middle-income earners, like local teachers, medical personnel, and first responders who will have no choice but to move to more affordable areas, and statistics reflect this reality. According to CareerCloud’s 2021 report, New Hampshire ranked second (behind Nebraska) on the list of states hardest hit by labor shortages, “with 1.6 job listings per unemployed person.” Although these margins offer incredible potential for economic growth, we cannot expect an influx of workers if we do not have available housing to accommodate them. Likewise affirming the need for more housing in Epping is Epping’s 2020 town report. According to the report, the ratio of deaths to births was a staggering 58:9. Unless this statistic is reversed with new housing options to support workers and families, Epping’s community, business, tax base, and general economy will suffer the consequences.

Why Can’t Middle Income Residents Afford Market-Rate Housing?

With increasing student loans, significant inflation, and lower disposable income than previous generations, young and middle income earners find it very difficult to purchase or rent from the limited pool of properties available at this time. The prices are simply too high, as the demand for properties exceeds the supply available for purchase or rent. These circumstances, which have since been exacerbated by the COVID-19 pandemic, make the workforce housing initiative for Epping all the more crucial at this time.

As NH’s legislative commission warns, “Restoring balance to New Hampshire’s local housing markets does not have to put at risk either our environment or our quality of life. Indeed, the danger lies in the other direction: failing to act will have serious consequences not only for those working families and seniors who are struggling in our current housing market, but for our State’s economy and our collective future as well”
-“Reducing Regulatory Barriers to Workforce Housing in New Hampshire”