- Rocket Community Fund released findings from its Atlanta Neighbor to Neighbor report, which informed the two investments.
- Rocket Community Fund has committed more than $2.5 million in Atlanta for housing stability efforts in the last year and a half.
ATLANTA, MARCH 28, 2024 – The Rocket Community Fund today announced a combined $550,000 in new funding to protect Atlanta homeowners and renters from displacement. The investments include $250,000 for a pilot program with the City of Atlanta to cover the cost of property tax increases for qualified homeowners, as well as a $300,000 investment with the Atlanta Volunteer Lawyers Foundation (AVLF) to strengthen their eviction defense services.
These investments come following findings from the Rocket Community Fund’s Neighbor to Neighbor program, a door-to-door canvassing campaign to connect residents with resources and identify critical community issues. The Partnership for Southern Equity and the Atlanta BeltLine Partnership led the effort, which collected more than 16,300 responses from residents across 20 Atlanta neighborhoods throughout 2023.
“Through Neighbor to Neighbor, we spoke with thousands of families, learning about their concerns, challenges and fears related to housing stability in Atlanta,” said Laura Grannemann, Executive Director, Rocket Community Fund. “These two investments respond directly to those concerns, addressing rising property taxes and eviction increases. We are thrilled to work with partners to promote safe and stable housing for all.”
Neighbor to Neighbor Findings
The Atlanta area has grown rapidly in recent years and is now the sixth-largest metropolitan region in the United States. This increase in population is driving increased housing costs and property taxes. According to Neighbor to Neighbor data, 76% of homeowners surveyed expressed concern about paying current year property taxes and 79% of respondents expressed concern about potential property tax increases.
Atlanta Mayor Andre Dickens acknowledged the importance of protecting legacy residents from tax-related displacement.
“Atlanta thrives when we work together,” said Mayor Andre Dickens. “The Rocket Community Fund and the Atlanta Volunteer Lawyers Foundation understand this, and that’s why I’m grateful for their significant grants. Our legacy community is the heartbeat of our city and helping them stay in their homes is always going to be a top priority of my administration and the work we do.”
Neighbor to Neighbor data also showed the impact of rising costs on renters, with 36% of respondents worried about eviction due to rising rents. This number increases to 51% for renters who have lived in Atlanta for 11-19 years. The Rocket Community Fund’s investment with the Atlanta Volunteer Lawyer’s Foundation will help protect renters from illegal eviction.
“AVLF’s programs, powered by Rocket’s investment, are at the forefront of Atlanta’s fight for safe and stable housing,” said Michael Lucas, Executive Director, AVLF. “Our advocates tackle high eviction rates, student turnover, and substandard housing conditions. Rocket’s support, combined with city investments, will help us prevent evictions, reduce their impact, and ultimately uplift our communities.”
Rocket Community Fund’s Commitment to Atlanta
Including today’s announcement, the Rocket Community Fund has invested $2.5 million into housing stability in Atlanta over the last 15 months. Prior investments include $500,000 to the Atlanta BeltLine’s Legacy Resident Retention Program, $250,000 to the Atlanta Neighborhood Development Partnership’s “Closing the Gap” affordable housing plan and $100,000 to HouseProud Atlanta to support senior residents with home repairs.
The Rocket Community Fund also supports the Rocket Wealth Accelerator program in Atlanta. This program, which also operates in Detroit, Cleveland and Milwaukee, connects clients with coaches who help them improve their financial literacy, build credit and grow generational wealth – all crucial steps towards long-term stability. In Atlanta, the Rocket Wealth Accelerator is managed by LISC and Atlanta Center for Self-Sufficiency.
About the Rocket Community Fund
The Rocket Community Fund aims to simplify complex and inequitable systems to ensure that every American has access to stable, healthy housing. It also invests in people and practices that provide meaningful opportunities for education and employment. Through its For-More-Than-Profit model, the Rocket Community Fund recognizes that business and community are inextricably linked, and it purposefully harnesses team member talent, technology, policy advocacy and philanthropic resources to invest in comprehensive community development in Detroit and across the country. Alongside financial investments, the Rocket Community Fund has organized Rocket Companies, Bedrock and other affiliated team members to provide more than one million volunteer hours nationwide, including more than 720,000 in Detroit. For more information, visit RocketCommunityFund.org.
About Atlanta Volunteer Lawyers Foundation
Serving Atlanta and Fulton County since 1979, AVLF is the largest provider of free legal services to two groups: low-income tenants and survivors of intimate partner abuse. Our mission is to create safe and stable homes and families by inspiring the fight for equal justice. We believe no one standing up for their rights should have to do it alone. Whatever our clients are up against, we’re here for them. At AVLF, ‘here’ means many things. It means beside them in court; at our downtown legal clinics nearly every Saturday of the year; in our two offices in the Fulton County Courthouse; in our communities’ schools; and in our clients’ homes. For more information, visit www.avlf.org.