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Appendix G: Development Feasibility Everett Housing Action Plan G-9 Conclusions Based on this work, there are several elements to consider for an assessment of development feasibility:  Overall housing costs in Everett are increasing, particularly with owner-occupied housing. Housing costs in Everett since the Great Recession are increasing at a rate greater than household incomes. From the information collected, rents have been increasing by around 4–5% per year (with increases of up to 10% in 2015–2016) and housing prices have been increasing by 9–10% per year (with increases of up to 20% in 2013–2014). In comparison, household incomes during this period have only been increasing by around 4% per year, suggesting that more people are likely being priced out of both markets over time.  Housing development has not been keeping up with broader targets. Housing targets from the 2011 Countywide Planning Policies suggested that Everett should be experiencing housing development at a rate of about 1.9% per year between 2011 and 2035. Overall, however, the city has been underbuilding in comparison to this target, with the housing stock growing by only about 0.6% per year since 2011. The bulk of this development has been with larger multifamily housing, which comprises about 65% of the permitted development between 2010 and 2020.  Over the long term, these differences between income and housing costs may accelerate, especially if housing development rates remain low. The long-term potential for transit connections and demand for transit-accessible housing in the city suggests that these gaps between supply and demand may increase further over time. Without additional supply, there is a significant risk that the prices of both rental and owner-occupied housing could continue to rise.