Compounding Interests, Compounding Inequities

HAND

Appendix


Several sources of information provide the structure for this inaugural version of the HIT. The HIT leverages local knowledge of tools and policies that are in motion in our region, as well as on-the-ground intel on housing production activities. Housing forecasts from the Urban Institute by price band and jurisdiction through 2030 are used to provide annual targets for each jurisdiction. In addition, several key metrics are included to overlay context on the housing affordability picture for each jurisdiction. The following sources of information were used to produce the HIT:

  • Local Jurisdiction Survey
    • Unit production counts
    • Policy/Planning/Zoning information
  • Urban Institute Housing Study
    • Annual housing targets by income by jurisdiction
  • Affordability Context Data
    • U.S Census Bureau American Community Survey
    • Bureau of Labor Statistics

Local Jurisdiction Survey:

In March 2020, an 8-question survey was sent to the 11 jurisdictions included in this inaugural version of the HIT. All 11 jurisdictions responded to the survey, and the data and information was collected, and uploaded to HIT website. Responses to nearly all of the questions in the survey were submitted by the participating jurisdictions, which provided valuable insights into housing activities at the local level in our region. Question number 5, which was about housing preservation, was the only portion of the survey that did not receive many responses. Of those few jurisdictions that did respond to the preservation question, most of the information was in aggregate form, and not by affordability level. As housing preservation tools and activities are implemented and become more widespread in our region, HAND will monitor these local activities and their outcomes in future versions of the HIT. The survey questions are provided in the table below.

#

Question

1

Jurisdiction Name _____

2

How many total residential units were built in your jurisdiction in 2019? A new housing unit can be considered "built" if it received a Certificate of Occupancy in 2019. _____

3

How many multifamily residential units were built in your jurisdiction in 2019? Multifamily units include apartments or condominiums but exclude townhomes. _____

4

How many residential units were built in your jurisdiction in 2019 that have income or rent restrictions?  For example, units that were constructed under the Low Income Housing Credit (LIHTC) program, a local affordable housing or inclusionary zoning policy, or some other public program? These can be referred to as "Committed Affordable Units.” If you do not have specific counts, please provide as much information as you can in the comment section at the end of the survey.

  • Total Committed Affordable Units _____

  • Units set aside for households with incomes below 30% of AMI _____

  • Units set aside for households with incomes between 30% and 49% of AMI _____

  • Units set aside for households with incomes between 50 and 59% of AMI _____

  • Units set aside for households with incomes between 60 and 69% of AMI _____

  • Units set aside for households with incomes at 70% of AMI or higher _____

5

How many units of affordable rental housing was preserved in your jurisdiction in 2019? "Preserved" housing units are rental units that have been acquired or recapitalized by a nonprofit or other entity that has entered into an agreement with a public agency to keep rents at specified levels. _____

  • Rental units preserved at rents affordable to households at 80% AMI _____

  • Rental units preserved at rents affordable to households at 60% AMI _____

  • Rental units preserved at rents affordable to households at 30% AMI _____

6

Please indicate whether your jurisdiction has adopted and actively uses the following tools to support the production of affordable housing.  Feel free to include links to websites describing the programs, if that is easier.

  • Housing priority. Does the local jurisdiction identify housing—and affordable housing or housing opportunity, more specifically—as a priority in its long-range planning documents, such as the Comprehensive Plan? _____

  • Inclusionary housing. Does the local jurisdiction have a mandatory or voluntary inclusionary housing program whereby the local jurisdiction requires or incentivizes the production of below-market rate units as part of market-rate developments, either on-site, off-site or in the form of a fee in lieu? _____

  • Local housing trust fund. Does the local jurisdiction have a local housing trust fund, currently funded and, if so, what is the total amount in the fund? _____

  • Property tax, impact fee and/or other tax or fee abatements or exemptions. Does the local jurisdiction offer property tax, impact fee or other abatements or exemptions to rental housing projects that include committed affordable housing units? _____

  • Public land. Does the local jurisdiction make publicly owned land available for affordable housing? _____

7

Please provide the addresses or approximate locations (e.g. Census tract, subdivision) of the projects completed in 2019 that contain Committed Affordable Units.  If address information is not available, please provide project names, if possible. _____

8

In the space below, please provide us with any additional information you think would be helpful in understanding new housing production in your jurisdiction. _____

Urban Institute Housing Study

The Urban Institute released a study in September 2019 detailing the multi-layered housing challenges facing the Washington region. From supply constraints, to affordability gaps, the report takes a deep dive into the trends of Washington area housing market, and offers a broad menu of policy tools and strategies that local leaders, practitioners, and stakeholders can pursue in working towards solutions to the housing issues facing the region. In addition to recent trends in the market, the report provides valuable projections on the types of housing that will be needed in the future. These housing targets provide not only the estimated number of units that will be needed, but also what price bands will be in demand, and in which part of the region the housing units will be needed. These overall housing forecasts by price band by jurisdiction were used to provide the key set of annual targets for the HIT.

The full report from the Urban Institute is available here:

Meeting the Washington Region’s Future Housing Needs A Framework for Regional Deliberations

Total Forecasts: Units by Price Band by Jurisdiction

Annual Forecasts: Units by Price Band by Jurisdiction (total forecasts divided by 15 years)

Cost Level Category by AMI Range

Affordability Context Data:

A set of 4 key metrics were used to provide context to the affordability issues and challenges facing each jurisdiction. This data is intended as a supplement to the core set of unit counts and targets for each locality and provides a snapshot of the affordability needs in each community.

Census Data:

  • Table B25070: Gross Rent as a Percentage of Household Income in the Past 12 Months
  • Table B25064: Median Gross Rent
  • Tables B19013D (Asian), B19013B (Black), B19013I (Hispanic), B19013A (White), B19013G (Two or more races): Median Household income in the past 12 months
  • Table B25001: Housing Units

Bureau of Labor Statistics Data:

  • Quarterly Census of Employment and Wages
  1. 43
  2. 44