NEW ORLEANS (WVUE) - The New Orleans City Planning Commission is set to hold a public hearing today on affordable housing in the city.
City leaders hope today's will create more housing options in New Orleans.
During today's public hearing officials are going to detail a formal study looking into how to increase the amount of affordable housing in New Orleans,
The nationwide study, recently released by Harvard University, finds more people are being forced to rent, as opposed to buying a home because of the cost.
Council member Jared Brosset says he's looking forward to hearing from the community about the importance of the affordable housing study, and that he hopes to find ways to make the housing market here more fair.
Experts recommend spending no more than 30 percent of total income on housing. But the Harvard study finds the number of renters putting at least half of their income toward housing hit a record high 11 million people.
Real estate agent Fred Buras says many young people can't afford to buy a house.
"Just based on how life is for younger people, to come up with a down payment, it prohibits the purchase," Buras said. "They can come up with the monthly rent but coming up with the down payment and closing costs is a great deal of money."
Brossett says he will continue to work to improve housing options.
The public hearing starts at 1:30 p.m. in the city council chambers at City Hall.