We Need a New Blueprint for Affordable Housing

February 18, 2026

Christopher D. Maher

Concerns about access to affordable housing were front and center in the 2025 political races and likely contributed to the success of candidates such as NYC Mayor Zoran Mamdani and New Jersey Governor Mikie Sherrill, along with various proposals emanating from Washington, DC.

Nationwide, the inventory of homes available for sale is still below pre-COVID levels. This supply-demand imbalance is reflected in stubbornly high home prices – the median sale price in New Jersey, for example, is barely over $550,000 – putting home ownership out of reach for many families. The rental housing affordability picture is equally bleak. The estimated average monthly rent for a one-bedroom apartment in NYC or metropolitan New Jersey is $3,400.

Unfortunately, many of the proposed solutions to this crisis – including legislation requiring that towns set affordable housing targets, tax incentive programs for builders, and more stringent rent control laws – will, at most, generate a marginal number of new units. The reality is that bringing new units on-line is a painfully slow process. According to a US Census Bureau report, it takes an average of over 18 months (start-to-finish) to build a multifamily building with 20+ units, and over 23 months in the northeast. The prolonged construction timeline is generally attributed to permitting and other regulatory factors.

While elevated interest rates and rising construction material costs play a role in limiting affordability, most housing experts believe the high cost of local regulations and associated construction delays are the most significant barriers to creating more affordable units. The National Association of Home Builders estimates that zoning, permitting and other rules account for nearly 25% of the cost of a single-family home and more than 40% of the cost of a typical apartment development.

In many New Jersey municipalities, zoning, environmental and other land use policies restrict the supply of developable land and limit the number of units that can be built. In other cases, there are regulations affecting minimum lot size and open space, as well as restrictions on building heights.

These regulations are largely based at the local level, and can vary greatly from town to town. If our leaders want to address the shortage of affordable housing, limitations on development, and the associated costs and roadblocks, must be addressed. That means local governments must be encouraged to examine their specific regulations and cut through restrictive red tape.

What is needed is a new blueprint that clears away obstacles that discourage private sector investment in affordable housing and inflate the costs of new construction and existing property conversions. Every family deserves to have a safe, secure and affordable roof over their heads; only a fresh approach to local regulation can achieve that goal.

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