Commentary:
In Las Cruces, like much of the United States, we are experiencing a housing crisis. Interest rates remain high (7% in April), and Las Cruces home values continue to rise after increasing 23% between 2019 and 2022. Only a small number of new homes are starter homes. Since 2017, rent in New Mexico has increased by 70%, leapfrogging over a 15% growth in wages. More than half of Las Cruces area renters are rent-burdened paying more than 30% of their income on rent.
We must address our housing shortage from every angle, ranging from incentives to regulatory reform to help renters and homeowners at every income level and stage of life. Realize Las Cruces, which revises the City’s land development code, is a long-term policy strategy designed to address these problems.
Realize Las Cruces will unlock restrictions on incremental development of attainable housing or “missing middle” housing in the City of Las Cruces. Specifically, the goal of the City’s proposed design standards and zoning reforms is to give property owners, homebuilders, and developers more freedom to build missing-middle housing and mixed-use, walkable neighborhoods, including Accessory Dwelling Units, townhomes, duplexes, small apartment buildings, clustered housing and more.
All of us stand to benefit. Consider a young professional, who just graduated from NMSU beginning their entry-level career. Given the shortage of affordable apartments and high-interest rates, they will struggle to find a home within their reach and may consider moving to another city. Consider newlyweds who are looking to start a family and buy a small, economical starter home. What if they could stop renting and start building home equity? Consider seniors, who want to downsize but remain in the same neighborhood. As of today, that may not be possible. But with Realize Las Cruces, residents will be able to rent, buy or build a variety of housing types, while expanding property values and city revenues.
Zoning transformations like Realize Las Cruces are a proven tool to build enduring prosperity in Las Cruces. Communities that enacted similar reforms saw increased housing stability, property values climb, and available housing stock grow. For example: after implementing a similar policy, Tysons, Virginia saw an increase in available homes by 23% (U.S. avg: 3%), and an increase in rent of just 4% (U.S. avg: 31%). Realize Las Cruces incorporates best practices from across the country to address housing shortages through long-term policy change.
Las Cruces’ success depends on us addressing housing at every level, with investments in infrastructure, public-private partnerships, and policy change. Realize Las Cruces will build prosperity in our community in innovative ways. Please speak up in support of Realize Las Cruces at the upcoming work sessions and Council meetings.
Becky Corran is a Las Cruces City Councilor, representing District 5. Beth Bardwell is Vice-President of the League of Women Voters of Southern New Mexico. Becky Corran and Beth Bardwell's opinions are their own and do not necessarily reflect the views of KRWG Public Media or NMSU.