More and more Virginians are housing cost burdened because their monthly rent or mortgage payments are more than their income can sustain.

According to the 2021 Joint Legislative Audit and Review Commission study on Affordable Housing, 21 percent of households in the Shenandoah Valley are housing cost burdened. Most of these fellow Virginians who are struggling with high housing costs are those professions most vital to our communities. They include nurses, firefighters, paramedics, teaching assistants, home health aides, waiters, bus drivers, and others.

If we want to continue to grow the economy in Virginia, we need to ensure that all residents have the resources they need for a safe and affordable place to call home.

Right now, the valley needs over 11,300 new affordable housing units to alleviate the high price of housing in these areas and ensure everyone has a place to call home. This is simple supply and demand economics — more units will reduce the pressure on costs since there will be more options for homebuyers and renters. It is very important that we build and preserve our supply of affordable housing, but such efforts take time and money. Meanwhile, many of our neighbors need assistance right now.

One sensible and realistic solution to our more immediate needs is to provide rental assistance to families with school-age children who are most impacted by the housing affordability crisis.

Parental income is one of the strongest factors in how children perform in school, and the achievement gap by family income is substantial. Children from low- to middle-income households are more likely to experience housing instability, which undermines academic achievement. Studies show that children who change schools or are frequently absent experience declines in educational achievement. Changing schools and absenteeism are two of the most common consequences of housing instability.

The General Assembly and governor can make an investment in the future of the state and school-aged children by funding a statewide rent relief program. The 5000 Families pilot program would target families with school-aged children who meet specific qualifications. The program would provide monthly rent relief to families to keep their rent affordable for the long term.

This strategy is powerful because it allows families to stay in their current home or find a more stable, permanent home of their choice. They are empowered to make the best decision for their family and achieve long-term housing stability, thus creating a strong foundation for success at school and at every stage of life.

With an investment of $100 million over a two-year period, this program could make housing stability a reality for 5,000 families! As such, this initiative is something Virginia can afford and must prioritize, especially when we consider that spending on all housing programs accounted for only 0.69% of the state’s general funds in the recent fiscal year.

Isabel McLain is the director of policy and advocacy for the Virginia Housing Alliance.