On Thursday, August 3rd. 2023, Funders Together to End Homelessness members gathered to learn more about the social housing model in Vienna, Austria.
California is grappling with a severe housing crisis: even individuals not currently facing homelessness are experiencing rent burdens. At Funders Together to End Homelessness, we know that permanent housing represents the key solution to homelessness. To effectively address this issue, it is imperative to significantly increase investment in affordable housing for low and moderate-income individuals.
Vienna has been part of a thriving worldwide social housing movement for over a century. In Vienna, social housing has proven immensely successful, with annual direct investments of $470M. This approach not only benefits those in need of affordable housing, but also has a positive impact on the overall housing market. As a result, nearly everyone in the region spends less than 27% of their net income on rent, leading to a more balanced and equitable housing situation for all.
Our local team was able to visit Vienna through a field study led by the Global Policy Leadership Academy and is excited to share their learnings with you.
Watch the below video to learn more.