In the Seattle area and across the country, many families are facing an affordable housing crisis. Rising rents, not enough inventory, and stagnant wages all factor into the increasing number of families who are rent-burdened (spending more than 30 percent of their income on rent). In analyses that we have shared with policymakers and key leaders, Zillow’s economic research shows that in Seattle, a five percent increase in rent means around 250 more people will become homeless. In cities like LA and New York, that number is in the thousands.

Through our research and engagement in the community, we became acutely aware of this growing crisis and is why we decided to launch our first-ever social impact program, The Home Project. Our $5 million in cash and in-kind contribution, five-year pledge will focus on ways to help address the issues of housing insecurity – defined as folks who are just one medical bill, job loss, or rental increase away from losing their homes – and support families who are housing the vulnerable.

As part of the pledge, we will identify Community Partners – non-profit organizations whose mission aligns with the goals and objectives of The Home Project – in the nine cities across North America where we have offices. They will be provided with a $25,000 donation each year to assist in their ongoing efforts to help families grappling with housing insecurity. Here in Seattle, Zillow Group’s Community Partners are Downtown Emergency Services Center (DESC), Mary’s Place, and the Seattle Housing Authority.

We have also created the Neighborhood Ambassador program as a way for individual employees to participate in our efforts. Any of our 3,200 employees are eligible to become an ambassador by nominating a non-profit organization that they are passionate about, and whose mission aligns with The Home Project. Selected organizations will receive a $1,500 donation, and the Neighborhood Ambassador will receive support in organizing office volunteer opportunities with the non-profit.

Personally, the part of The Home Project that excites me the most is the potential of our in-kind contributions. As a tech company in the real estate space, Zillow Group is uniquely positioned to do more than just provide financial contributions, as we already have a socially conscious brand that helps people find their way home. As part of The Home Project, we will leverage our platform and people to raise awareness about housing insecurity, provide information, and connect housing-vulnerable families to resources. We’ll also build products and features to create solutions that address the unique needs of the communities we’re supporting.

In fact, we have already begun to focus on in-kind contributions. A longstanding event at Zillow Group has been Hack Weeks – where employees are able to come up with new ideas, products, or features that could one day be launched on our platforms. Earlier this year, we created a social impact award as part of our internal Hack Weeks to spur products and features that could address the unique needs of the housing vulnerable. In addition to leveraging our product development for The Home Project, we have the opportunity to use our platform to raise awareness. Over the summer, Zillow’s economic research team published groundbreaking research showing the correlation between rising rents and an increase to homelessness. Based on this research, Zillow’s marketing team co-produced a short video for social media to humanize the issue that has had 1.5 million views across all social channels.

I am beyond excited to see how The Home Project will grow and evolve over the next five years and feel fortunate to work for a company that is committed to investing in social issues facing our community like housing insecurity.