AFFORDABILITY LISA GOVONI MONTGOMERY COUNTY HOUSING RESEARCH - - PowerPoint PPT Presentation

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Dec 03, 2022 209 likes •336 views

TAKOMA PARK HOUSING MONTGOMERY COUNTY PLANNING DEPARTMENT MONTGOMERY COUNTY PLANNING DEPARTMENT AFFORDABILITY LISA GOVONI MONTGOMERY COUNTY HOUSING RESEARCH PLANNER LISA.GOVONI@MONTGOMERYPLANNING.ORG Maryland-National Capital Park and

SLIDE 1

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

TAKOMA PARK HOUSING AFFORDABILITY

LISA GOVONI MONTGOMERY COUNTY HOUSING RESEARCH PLANNER LISA.GOVONI@MONTGOMERYPLANNING.ORG

SLIDE 2

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

$78,106 $98,704 $51,939

$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Median Household Income

HOUSEHOLD INCOME (DOLLARS)

(ACS 2010-2014)

Takoma Park, Maryland Montgomery County, Maryland United States

Although Takoma Park’s median income is lower than Montgomery County’s, it is still a

high income area with a median income 52% higher than the U.S.

SLIDE 3

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

52% 48% 67% 33% 0% 10% 20% 30% 40% 50% 60% 70% Owner-occupied Renter-occupied

HOUSING TENURE

(ACS 2010-2014)

Takoma Park, Maryland Montgomery County, Maryland

Takoma Park has an almost even split of owner-occupied and renter-occupied households

(52% owner-occupied, 48% renter-occupied).

SLIDE 4

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

5% 5% 28% 20% 7% 6% 25% 16% 6% 8% 17% 14% 6% 7% 13% 12% 76% 73% 18% 39% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Takoma Park Owner Household Montgomery County Owner Household Takoma Park Renter Household Montgomery County Renter Household

HUD AREA MEDIAN FAMIL Y INCOME (HAMFI) DISTRIBUTION

(CHAS 2008-2012)

Household Income <= 30% HAMFI Household Income >30% to <=50% HAMFI Household Income >50% to <=80% HAMFI Household Income >80% to <=100% HAMFI Household Income >100% HAMFI

Only 12% of Takoma Park owner households earn less than 50% of the Area Median

Income

Over 50% of Takoma Park renter households earn less than 50% of the Area Median

Income.

SLIDE 5

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

$859 $811 $1,007 $1,313 $1,160 $1,334 $1,544 $1,787 $- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 Efficiencies 1 Bedroom 2 Bedrooms 3 Bedrooms

AVERAGE RENTS OF ALL RENTAL FACILITIES BY TYPE

(2014 DHCA RENT AL FACILITY SURVEY)

Takoma Park Montgomery County

The DHCA (Department of Housing and Community Affairs) conducts an annual survey of

all multi-family rental facilities (meaning two or more units in structure, not all rental units) throughout the county, reporting information from 799 facilities in 2014.

Takoma Park has lower average rents compared to Montgomery County, with an average

1-bedroom in Montgomery County averaging around the same cost for a 3-bedroom in Takoma Park.

SLIDE 6

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

2% 17% 23% 44% 15% 1% 5% 5% 31% 57% 0% 10% 20% 30% 40% 50% 60% 70% Less than $200 $200 to $749 $750 to $999 $1,000 to $1,499 $1,500 or more

GROSS RENT (ACS 2010-2014)

Takoma Park, Maryland Montgomery County, Maryland

MEDIAN GROSS RENT: MONTGOMERY COUNTY – $1,611 TAKOMA PARK – $1,069

Takoma Park’s median gross rent is over $500 less than Montgomery County’s.

SLIDE 7

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

1% 0% 2% 4% 9% 38% 44% 2% 2% 1% 2% 5% 14% 34% 34% 8%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Less than $50,000 $50,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 to $299,999 $300,000 to $499,999 $500,000 to $999,999 $1,000,000 or more

HOME VALUE

(ACS 2010-2014)

Takoma Park, Maryland Montgomery County, Maryland

MEDIAN HOME VALUE: MONTGOMERY COUNTY – $448,700 TAKOMA PARK – $475,800

Takoma Park has a higher median home value than Montgomery County as a whole.
46% of Takoma Park homes are valued greater than $500,000, compared to 42% for

Montgomery County as a whole.

SLIDE 8

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

73% 70% 56% 51% 16% 18% 25% 25% 9% 12% 17% 22% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Takoma Park Owner Household Montgomery County Owner Household Takoma Park Renter Household Montgomery County Renter Household

HOUSING COST BURDEN

(CHAS 2008-2012)

Cost Burden <=30% Cost Burden >30% to <=50% Cost Burden >50%

Housing analysts suggest that household costs should not be more than 30% of total

household income.

Renter households in Takoma Park are less severely rent burdened than the Countywide

renters.

SLIDE 9

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

87% 3% 3% 3% 5% 67% 21% 3% 4% 5% 0% 20% 40% 60% 80% 100% 1-unit, detached 1-unit, attached 2 to 9 units 10 to 49 units 50 or more units

OWNER-OCCUPIED HOUSING UNITS

Takoma Park, Maryland Montgomery County, Maryland

UNIT TYPE

(ACS 2010-2014)

15% 1% 28% 22% 35% 12% 13% 15% 29% 30% 0% 20% 40% 60% 80% 100% 1-unit, detached 1-unit, attached 2 to 9 units 10 to 49 units 50 or more units

RENTER-OCCUPIED HOUSING UNITS

Takoma Park, Maryland Montgomery County, Maryland

Owner-occupied housing units in Takoma Park are predominantly 1-unit detached homes.
Renter-occupied housing units in Takoma Park are predominantly located in 50 or more

unit buildings.

SLIDE 10

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

NUMBER OF BEDROOMS

(ACS 2010-2014)

0% 3% 17% 80% 0% 3% 11% 85% 0% 20% 40% 60% 80% 100% Efficiencies 1 bedroom 2 bedrooms 3+ bedrooms

OWNER-OCCUPIED HOUSING UNITS

Takoma Park, Maryland Montgomery County, Maryland 5% 37% 39% 19% 4% 31% 37% 28% 0% 20% 40% 60% 80% 100% Efficiencies 1 bedroom 2 bedrooms 3+ bedrooms

RENTER-OCCUPIED HOUSING UNITS

Takoma Park, Maryland Montgomery County, Maryland

Owner-occupied housing units most commonly have 3 or more bedrooms.
Renter-occupied housing units are primarily 1 or 2 bedroom units.

SLIDE 11

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

MONTGOMERY COUNTY PLANNING DEPARTMENT

Maryland-National Capital Park and Planning Commission Maryland-National Capital Park and Planning Commission

YEAR STRUCTURE BUILT

(ACS 2010-2014)

0% 1% 8% 12% 35% 44% 1% 10% 35% 30% 19% 5% 0% 20% 40% 60% 2010 or later 2000 to 2009 1980 to 1999 1960 to 1979 1940 to 1959 1939 or earlier

OWNER-OCCUPIED HOUSING UNITS

Takoma Park, Maryland Montgomery County, Maryland 1% 1% 9% 25% 49% 16% 1% 14% 32% 34% 15% 4% 0% 20% 40% 60% 2010 or later 2000 to 2009 1980 to 1999 1960 to 1979 1940 to 1959 1939 or earlier

RENTER-OCCUPIED HOUSING UNITS

Takoma Park, Maryland Montgomery County, Maryland

Almost 80% of owner-occupied housing units were built before 1959 in Takoma Park.
65% of Takoma Park renter-occupied housing units were built before 1959, only around

10% have been built after 1980.

Takoma Park has an older housing stock for both renter-occupied and owner-occupied

units