There’s a variable in the economic development and community vitality equation that is rarely discussed. It’s the availability of safe, stable and affordable housing, and it can play a significant role in future economic recovery and the quality of life in our communities.

As residents of Des Moines, we can all take pride in the fact that our community consistently scores well on affordable housing lists. However, for many families, housing is not owned, but rented.

Average monthly rent for a two-bedroom apartment is $737, plus utilities. In order to afford that expense, a household must earn nearly twice the minimum wage for 40 hours a week, 52 weeks a year. It requires an annual gross income of $30,000. For a family of four, this means its income is about half of what most families of four in Polk County earn.

In the past year, rents on these apartments have risen, and they continue to rise. As a result, more families are struggling to remain in safe, stable and affordable housing. A child’s education can be compromised by multiple moves.

The area needs more permanent, affordable options for residents earning 30 percent to 80 percent of area median income – or, in dollar terms, $21,950 to $58,500 annually for a family of four. It is a basic need that requires a powerful solution.

The Polk County Housing Trust Fund (PCHTF) was established 15 years ago to address the need for more affordable housing units and to help fund supportive housing services for lower-income people. Each year, the organization is responsible for researching and producing a plan to allocate private and taxpayer dollars to fund projects that increase and preserve affordable housing units. Last year, the trust fund deployed almost $3 million to advance this vision.

The business community, especially the financial industry, has been a strong and consistent supporter of the PCHTF. We are just finishing our 2010-11 campaign to raise money for supportive services for people needing affordable housing. One hundred percent of the money raised is allocated to the nonprofit provider partners funded by the PCHTF. The generosity of the business community means that HOME Inc., Anawim Housing, Hawthorn Hill, Community Housing Initiatives and Greater Des Moines Habitat for Humanity will be offering more housing services.

Affordable housing affects every aspect of our life as a community. We cannot talk about improving education, workforce development, business climate or cultural offerings without making sure that our residents have safe, stable and affordable places to live.

Join me in ensuring that every conversation we have about making Des Moines a more attractive place in which to live, work and do business includes a discussion of affordable housing.

Vicki Facto is a vice president with Bankers Trust Co. and board chair of the Polk County Housing Trust Fund.