Addressing the Impact of Housing Affordability for Virginia’s Economy

Andrew McCoy and Mel Jones

Jones et al._econ impact study slideThe Virginia Center for Housing Research at Virginia Tech partnered with Housing Virginia, an affordable housing non-profit based in Richmond, for a first-of-its-kind study that demonstrated the impact of energy efficient construction requirements in affordable rental housing. The research project showed that the average resident of an energy efficient apartment saves $54 per month on their electricity bill, which amounts to $648 annually.

The year-long study also found that apartments built to higher energy efficient standards, including third party testing and inspection, outperform new standard construction housing by more than 40% with respect to energy consumption for this type of housing. It is the first of its kind in Virginia and one of the first in the nation to verify actual electricity usage in apartments built to meet high level efficiency standards.

 


 

Andrew Patton McCoy, Ph.D. is the Preston and Catharine White Endowed Fellow and Associate Director of the Myers-Lawson School of Construction (MLSoC) and the Director of the Virginia Center for Housing Research (VCHR) at Virginia Tech.  He is Associate Professor of Building Construction in the Myers-Lawson School of Construction, a joint venture of the College of Engineering and the College of Architecture and Urban Studies which focuses on inter-disciplinary, multi-departmental outreach, research and education. The School serves the full life-cycle and supply chain across all sectors of the Industry.


Mel Jones is a Research Scientist at the Virginia Center for Housing Research.  Ms. Jones received undergraduate degrees in Economics and International Service from the American University. She received a Master of Urban and Regional Planning and a Master of Science in Agriculture and Applied Economics from Virginia Tech. Her expertise includes statistical and qualitative economic and policy analysis. She has significant experience and training in program coordination, local and regional economic development, and affordable housing.