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Appendix E: Affordability and Displacement Everett Housing Action Plan E-7 <br />Figure 4. Households and Available Affordable Housing by Income Category, City of Everett. <br />Sources: US Dept. of Housing and Urban Development CHAS, 2017 5-Year Estimates. <br />Figure 7 provides a more detailed comparison between household income and the availability of <br />affordable housing. As noted previously, a significant amount of the housing supply (about 78%) is <br />affordable at the 30–80% range. However, the lack of affordable units for the extremely low-income <br />households in the city means that this rental housing still may not be affordable. The gap between <br />households and available housing affordable at 80% AMI and above also indicates significant <br />downrenting in the community. <br />It should be made clear here that this analysis only provides an understanding of one element of <br />housing need in affordability. Other elements of housing may also be linked with this consideration, <br />however. Housing may also need to be sized appropriately for given households, most notably with <br />respect to family-sized rental housing with two to three bedrooms for lower-income households. <br />Finally, Figure 8 highlights the change over a five-year period for the information provided in Figure 7. <br />This highlights that while downrenting may be declining slightly at higher incomes, the problem of <br />uprenting is increasing. Affordable rental units at 30–50% AMI increased much more than households <br />with incomes in this range, while the converse was true at 0–30% AMI. The reasons for this can be <br />complicated, and may include filtering in the housing stock, changes in local household compositions, <br />and other market factors. However, this strongly suggests that while median incomes in Everett may <br />be tracking with rents as shown in Figure 1, lower income households may actually be experiencing <br />more significant price increases relative to their incomes overall. This has likely been a significant <br />challenge to housing affordability for these households and will pose a distinct threat of economic <br />displacement over time.