2019/07/24 Council Agenda Packet

> HOUSING EVERETT HOUSING SNOHOMISH COUNTY REPORT The HOUSing Consortium of Everett and Snohomish County development the Housing Snohomish County Project Report and is a comprehensive overview of the three main elements of affordable housing in Snohomish County: how many homes we have, how many additional homes we need, and the local policies we can adopt to help address the need. Below is the inventory and needs assessment for the City of Everett. ESTIMATED HOUSEHOLDS BY INCOME BRACKET,2016 INVENTORY 0-30% 31-50% 51.80% Totalhouseholds,all incomes:42,221 Category ANTI Ah11 AMI ALL Total low-income cost-burdened households,15,581 TOTAL 1207 1558 1658 4,423 8,000 - Rental 1207 1558 1,542 4,307 HoSheltermeowBenders 0 90 0 0 110 10590 ALL 7,000 6000 j 5,000 I NEED 4000 0-30% 31.50°/s 51-80% 3,000 Category AMI AMI AMI 2,000 TOTAL Households 8,970 7,437 6,711 23,11 91,000 Cost-Burdened 1,629 3,968 2,365 7,962 Severely Cost- 5,647 1,629 343 7,619 0 Burdened 0.30% 31-50% 51-80% Cost-Burdened,%of ■Total households dInventory■Cost-Burdened 0 Severely Cost-Burdened bracket 61% 75% 40°I° 67% The Housing Snohomish Report identifies and recommends that jurisdictions consider implementing a number of strategies to support the production of new affordable housing to meet the needs of the community. Definitions Affordable Housing—Occupants pay no more than 30%of total household income for housing and utilities AMI (Area Median Income)—Half of all households are higher and half are lower. Everett AMI is$90,300 in 2016 • Low Income o Is used as a general term for households with total income 0%-80% of AMI* o Is also used to refer specifically to households with total income 50%-80%of AMI. Everett AMI is $45,150-$72,240 • Very low income—Total household income is 30%-50%of AMI. In 2016, Everett=$27,090-$45,149 • Extremely low income—Total household income is 0%-30% of AMI. In 2016, Everett=$0-$27,089 Inventory—The number of income-restricted, affordable housing units (does not include Section 8 vouchers) Need—The number of households paying more than 30% of total household income for housing and utilities • Cost-burdened—Paying 30%-50%of total household income for housing and utilities • Severely-cost burdened—Paying more than 50% of total household income for housing and utilities *For more information on AMI, please visit https://www.huduser.gov/portal/datasets/il.html#2019. imm EVERETT WASHINGTONCommunity, Planning, and Economic Development 11 l P a g e 13