Area 3 Survey: Housing Options

WHAT THE COMMUNITY SAID

Participants noted both a desire to preserve the existing single family residential character and to promote more affordable housing options. The following information highlights some realities of the housing market that impacts the feasibility of building new affordable housing. What types of housing will fill the need and fit in with the existing neighborhoods? Where can that new housing be built?

Housing construction costs have increased in recent years, due in part to rising prices for building materials, labor, land, and regulations. As a result of these rising building costs, rents are going up. This combination of factors is creating a “housing cost-burden.” According to the U.S. Department of Housing and Urban Development (HUD), households that spend more than 30 percent of their income on housing (mortgage or rent plus utilities) are considered housing cost-burdened. They spend too much of their money on housing and often don’t have enough left over for other essentials like food, transportation and healthcare. Twenty-seven percent of Hamilton County households were housing cost-burdened in 2017.

The demographics and preferences of our community are also changing. Many people are choosing to rent for a variety of reasons. Families are smaller. There are more single-parent and non-traditional households, and many people want to live in walkable communities near work, shops and other amenities. Seniors are increasingly choosing to age in place, and their homes (often the most affordable option for first time homebuyers) are therefore not on the market for resale.

A greater variety of housing types is needed to accommodate these changing demographics and preferences. This variety can also create additional benefits, such as:

Transitions - Townhomes, condos, apartments, and homes on smaller lots can serve as a needed transition, between the single-family homes and the commercial businesses.

Transportation Choices - Clustering a diversity of housing can bring transportation benefits, such as improved transit service, better bike infrastructure, and ultimately other modes of transit (such as street cars or light rail.)

Retail and Services - A greater concentration of housing increases the number of residents, which can then begin to attract new retail and services (including grocery stores.)

Think About...

The Millennial

Some graduates or young professionals are, hampered by student debt. Many are still living at home or with roommates, unable to purchase an affordable, first home.

The Single-Parent

Many heads of household are single with children and trying to make it on one income, making it even harder to find an affordable option for housing.

The Senior

Many would like to stay in their neighborhood but must downsize due to a fixed-income or health needs. They could stay in their home or join family if a “granny flat” or Accessory Dwelling Unit (ADU) were available.

The Retiree

Many are looking for a low maintenance rental unit or are downsizing and seeking housing that is part of a walkable town center offering access to events, museums, and cafes.