Continuum of housing options

Goal 1: An Inclusive Community of Self-sufficient Residents
Continuum of housing options
Use regions/landmarks to skip ahead to chart and navigate between data series.

Chart

Long description.

No description available.

Structure.

Chart type: column chart.
The chart has 1 X axis displaying categories.
The chart has 1 Y axis displaying Number of Units.

Chart graphic.

ChartCreated with Highcharts 5.0.12Assisted RentalAffordable RentalModerate RentalMarket Rate RentalAffordable OwnershipModerate OwnershipMarket Rate OwnershipChart context menuFY 2018
Analysis

The number of housing units affordable to different income groups -- ranging from extremely low-income households (those earning no more than 30% AMI) to households earning 100% or more of AMI -- were tabulated. Data was included for both rental and homeownership housing units. Affordability for each income group was calculated by determining 30% of annual household income (for a 4 person household) for extremely-low, very-low, and low-income households (using current HUD-determined income limits, which can be found here). Moderate income housing units are those units affordable to households earning 80% to 100% of AMI. The rent levels and corresponding income levels related to the chart table are as follows:

Percent Area Median Income (AMI) Income LimitsAffordable Monthly Rent  (30% annual household income)
30% - extremely low income*$25,600$640
50% - very low income*$42,650$1,066
80% - low income$68,250$1,706
100% + $89,600$2,240

*Units combined into "affordable" category.

Data was collected from the American Community Survey 2012 - 2016 5 year estimates for contract rent and home values. Assisted housing data was collected from the housing database managed by the Housing Program Coordinator. Homeowner affordability based on purchase at home value with $10,000 down payment, 5% interest and a fair credit score.