Housing Bonds help neighbors call Buncombe County home
A safe, affordable home is a chance to put down roots. It’s also the opportunity to stay in the home and neighborhood you’ve known for decades. Local funds, including bonds, are critical to supporting the housing we need while other sources stagnate.
Housing costs have climbed steeply over the last decade, but ongoing state and federal housing funding has barely budged. Asheville’s annual federal community development and housing allocations have remained around $2 million. North Carolina Housing Trust Fund support has also been flat or declined. After inflation, flat funding builds fewer houses.
Local investment fills the gap. That’s why Asheville Area Habitat for Humanity encourages Buncombe County voters to vote yes on the $40 million affordable housing bond this November. Bonds give our community resources to meet our housing needs that other funding hasn’t kept pace with.
In North Carolina, general obligation bonds allow local governments—with voters’ approval—to borrow for long-term investments and repay the debt over time through taxes. They typically offer local governments their lowest borrowing costs, spreading the expense across the years residents will benefit.
Our community has put housing bonds to work before. Asheville voters approved housing bonds in 2016 and 2024. Buncombe County voters approved a $40 million housing bond in 2022. By August 2025, commissioners had approved and budgeted $30.4 million of that county bond, primarily for affordable rental development. Affordable rentals meet a critical need and help create a path to homeownership. For renters working toward buying a home, manageable housing costs make it easier to save, reduce debt, and prepare for that step.
Housing bonds also create more room for home repairs. By providing a separate source for large development projects, bonds free regular local housing funds for repairs and other housing services. Commissioners must still make those budget choices, but a larger funding pool makes it possible to build needed homes while preserving existing ones.
Buncombe County’s investment in homeowner repairs grew from $150,000 in FY2017 to nearly $1.3 million in FY2025. That funding helps Habitat and other organizations correct unsafe conditions and improve accessibility. Bonds can also fund repairs directly: Asheville recently committed $3 million from its housing bond to help low-income homeowners remain safely housed.
Our community needs a range of housing to meet the needs of new and longtime residents. Federal and State dollars play a role, but local housing needs increasingly rely on local investments from government and individual generosity. Please vote yes on bonds for affordable housing and conservation. This local investment helps new homeowners put down roots, and longtime residents stay safely at home, while protecting the places we care about.
