Cambridge

Country

🇬🇧UK

Population

129,000

Renting

31%

3 Things...

1. Historical Significance: Cambridge is home to some of the world's most prestigious educational institutions, including Harvard University and the Massachusetts Institute of Technology (MIT), making it a hub for innovation and research. 2. Cultural Diversity: The city boasts a rich cultural scene, with numerous festivals, art galleries, and theaters, reflecting its diverse population and artistic community. 3. Architectural Landmarks: Cambridge features a mix of architectural styles, from colonial-era buildings to modern designs, including the iconic Harvard Yard and the striking contemporary architecture of the MIT campus.

Organisations

Mole

Inspiring Projects

Marmelade Lane

Unlisted Orgs

Population (AI)

123000

Enrich by AI!

Last edited

Sep 30, 2024 6:49 PM

Category

Local programs

Housing Market

In Cambridge, Europe, the housing market is characterized by a significant proportion of renters. Approximately 46% of residents rent their apartments, with many facing precarious situations due to unaffordable housing and poor energy efficiency. The city is grappling with a housing crisis, marked by high rental costs and limited affordable housing options. To address this, Cambridge has implemented various measures to support and build affordable housing. The city offers Housing First-inspired schemes, providing shared housing to homeless individuals, although these programs have limited capacity. Additionally, there are efforts to maintain rent control and stabilize rental prices, which has shown mixed results in terms of property values and market stability. Despite these challenges, the city continues to explore innovative solutions to ensure more sustainable and affordable housing options for its residents.

Further Actors?

Cooperatives

In the city of Cambridge, housing cooperatives play a significant role in providing affordable housing options. These cooperatives differ from condominiums in that the entire building is owned by a corporation, and residents own shares in the corporation rather than individual units. The city supports both unrestricted market-rate co-ops and limited-equity co-ops, which have income limits and restrictions on share value increases. Limited-equity co-ops are managed by their residents and often receive assistance from the city in selecting new members. The city promotes cooperative housing by assisting co-ops in reaching out to potential residents and providing resources for those interested in joining a cooperative. There is no specific data available on the market share of housing cooperatives in Cambridge. However, the city's efforts to support cooperative housing indicate a commitment to this model as a solution to housing affordability challenges. No recent data on new housing cooperatives emerging in Cambridge is available, but the city's ongoing support suggests continued activity in this sector.