SAMPLE AHA HOUSING PROFILE

SAMPLE AHA HOUSING PROFILE: CITY OF GRANITE FALLS

SCT PAC June 12, 2014

WHAT’S IN THE PROFILE?

• Project status

• Intended use and audience

• Content and presentation

• Data sources

POPULATION AND COMMUNITY

• Population, households

• Housing tenure

• Median income, population in HUD income levels

• Cost burden

• Employment

• “Household profiles”

POPULATION AND COMMUNITY: GRANITE FALLS

• Significant growth – 219% since 1990 • Continued dramatic growth projected • Mainly families with children, with increasing

share of seniors

• Median income - $65,389

• Renter households small on average, but family size similar to County overall

• 46% of households cost burdened • Dramatic improvement as income rises

• 89% of local workers employed outside the City

0%

5%

10%

15%

20%

25%

30%

35%

Extremely Low

Very Low Low Moderate Middle

Share of Population by HUD Income Level, Granite Falls and Snohomish County

Granite Falls Snohomish County

Source: US Census Bureau; American Community Survey, 2008-2012

EXISTING HOUSING STOCK

• Housing character, age

• Assisted housing stock

• Market rate housing stock – to rent and to own

EXISTING HOUSING STOCK: GRANITE FALLS

• 85% of units built after 1970, 11% built before 1939

• 76% detached single family homes

• 34% of units two bedrooms or less in size while 59% of households two individuals or less

• 2012 median home sale - $140,000

ASSISTED HOUSING: GRANITE FALLS

• Subsidized Units: • 36 Section 8 Housing Choice Vouchers • 30 units for seniors and disabled individuals in

two properties

• Workforce Units: • 17 units for seniors

Assisted Units by Number of Bedrooms

Assisted Units by Income Level Served

1 Bedroom 37 Extremely Low 27

2 Bedrooms 16 Very Low 37

3 Bedrooms 10 Low 2

4 Bedrooms 3 Moderate 0

MARKET RENTAL HOUSING: GRANITE FALLS

Bedrooms Multifamily

Average Rent Minimum Income

Single Family Average Rent

Minimum Income

1 $723 Very Low No Data n/a

2 $850 Very Low $1,006.20 Low

3 $1,139 Low $1,406.75 Low

4+ $1,674.00 Low $1,667.50 Low

Source: Dupre and Scott, 2013

HOME OWNERSHIP: GRANITE FALLS

Home Sale Affordability, 2008-2012

Source: Snohomish County Assessor, 2013

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

100% 2012 Home Sale Affordability Gap

Households

Sales

0%10%20%30%40%50%60%70%80%90%

100%

ExtremelyLow

Very Low Low Moderate Middle

2008 2009 2010 2011 2012

Extremely Low

Very Low Low Moderate Middle

CHALLENGES AND OPPORTUNITIES: GRANITE FALLS • Character of housing driven by residents’ preference for a rural, small town lifestyle

• Good supply of rental housing for households above 50% AMI, limited supply affordable to small households between 30 and 50% AMI • Mismatch between size of units and size of households

• Home ownership currently attainable to households with a wide range of incomes, however recessionary effects were significant

• Strategies currently being pursued

THANK YOU