Economic mobility describes how someone’s income changes over their lifetime.
Economic mobility can also refer to the changes in economic outcomes, such as changing jobs or moving to a new house, for groups of people or generations over time.
Economic mobility creates a pathway from crisis to stable, and housing is key to this. Safe and affordable housing improves an individual’s physical, mental, emotional, and behavioral well-being. This, in turn, improves communities through supporting area employers and the local workforce. Understanding disparities through an equity lens is essential in supporting economic mobility as well. Diverse communities are developed in areas with affordable housing, which creates a more understanding, fair, and culturally sensitive community.