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Illustration: Rebecca Zisser/Axios

Amazon HQ2 in Arlington, Virginia, is just getting started — with a smattering of employees and a new campus construction — but the surrounding housing market is already experiencing a boom in anticipation of the new demand.

Between the lines: As housing prices climb and inventory drops, experts predict lower-income residents will be priced out of their neighborhoods, just as they were in Amazon's Seattle. In Virginia, one of the most vulnerable pockets is the Latinx community in Arlandria — just two miles from HQ2.

Why it matters: There are plans to add affordable housing units in northern Virginia, but those homes will be priced for households earning around 60% of the median income. That would leave out almost all Latinx families in Arlandria, researchers wrote.

In a new report by Tenants and Workers United and George Washington University, provided first to Axios, researchers surveyed a sample of 285 Arlandria families living among the city's 3,000 moderately priced apartments.

  • While homeowners in Arlandria tend to be white, tenants are overwhelmingly Latinx and lower-income — and many have been living in the city for 2 or more decades.
  • Of the households surveyed, 35% earned less than $28,000 per year. That's less that 25% of the Washington metro area's median household income of $117,200.
  • Around 95% of households earned less than 40% of the area median income, researchers found.
  • In total, around 10,000 Latinx residents are at risk of displacement.

What's next: Amazon has said that it is working with local and state officials to address its housing impact. The company has donated $3 million to build affordable housing in the area around HQ2.

Go deeper

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.