In Atlanta, despite a surge in affordable housing options initiated by Mayor Andre Dickens' ambitious goal to create 20,000 new housing units by 2030, many residents remain locked out of the market due to low credit scores. An investigation revealed that low-income earners, often lacking sufficient credit history or struggling with poor credit, face significant challenges in securing leases for these new units. With a typical landlord requiring a credit score of at least 670, individuals like Jackeine Wilson, who pays $1,200 monthly to live in a hotel, find themselves unable to transition to stable housing. Experts suggest that improving credit scores is crucial, and they recommend practical steps such as timely bill payments, utilizing secured credit cards, and ensuring low credit utilization. For those with poor credit, seeking private landlords, providing additional documentation, or offering higher security deposits can help navigate the housing market's barriers.
Read the full article here.