Breaking Gridlock, Breaking Ground: Tackling Anchorage Housing - - PowerPoint PPT Presentation

Presented by Michele Brown MOA Senior Citizens Advisory Commission Senior Housing Forum Loussac Library October 22, 2014

Breaking Gridlock, Breaking Ground: Tackling Anchorage Housing Affordability

Our Goal: All Anchorage residents have stable, affordable housing.

Collaborators:

• Alaska Housing Finance Corporation
• Anchorage Community Development Authority
• Anchorage Downtown Partnership
• Cook Inlet Housing Authority
• Rasmuson Foundation
• United Way of Anchorage

Anchorage residents strongly agree that:

Source: Random sample survey of more than 350 Anchorage households conducted by Ivan Moore Research in September 2013.

• Hardworking people should be able to afford

housing and still have money left over for food and basic necessities. 82.5%

• An adequate supply of quality housing options is

good for the economy. 71%

• Children in stable housing situations do better in

school and in life. 84%

Good availability of housing in your budget range?

Source: Random sample survey of more than 350 Anchorage households conducted by Ivan Moore Research in September 2013.

Yes 49% No 47% Not Sure 4% Yes 48% No 45% Not Sure 8%

For Purchase For Rent

Is housing affecting your ability to retain and recruit employees?

Source: AEDC 2014 Annual Business Confidence Index Report. Prepared by McDowell Group.

Yes 58% No 42%

Anchorage Population Trends

Sources: U.S. Census before 2012 and American Community Survey for 2012.

Anchorage Population (in 1000s)

Source: U.S. Census and *Alaska Department of Labor projection.

83 126 174 226 260 292 301 327 348

1960 1970 1980 1990 2000 2010 2013 2022* 2032*

Alaska Population 2013 & New Homes 2002-2012, by Region

Source: Alaska Department of Labor.

23 % 15 % 47 % 15 %

New Homes 2002-12

41% 14% 13% 33%

Anchorage Fairbanks Mat-Su Other AK

Population 2013

8

[housing gridlock]

Growing Senior Population

0% 5% 10% 15% 20% 25% 30% Under 20 20-34 35-49 50-64 65 & Up

2032 2012

Seniors (65 & Older)

Source: U.S. Census and *Alaska Department of Labor projection.

1.1% 1.4% 2.0% 3.6% 5.5% 7.5% 13.5% 16.2%

1960 1970 1980 1990 2000 2012 2022* 2032*

Households by Type

Source: U.S. Census Bureau. American Community Survey 5 yr average 2008-2012.

23% 11% 31% 26% 9%

Married w/Children Single-parent Families - No Child One Person Roommates

% of Anchorage Households that Rent by Age of Head

Source: U.S. Census American Community Survey 5 yr average 2008-2012.

86% 58% 41% 29% 22% 18% 23% 39%

Under 25 25-34 35-44 45-54 55-64 65-74 75 & Up All Ages

Housing America’s Older Adults

Harvard Joint Center for Housing Studies and AARP , report released Sept. 2014

• In just 15 years, one in five people

will be at least 65.

• Housing needs begin to shift after

age 50.

• Housing inventory lacks basic

accessibility features.

• Transportation infrastructure is ill-

suited to those who don’t drive.

• A high share of older households

face housing cost burdens.

Anchorage Housing Affordability & Economics

Anchorage Rent as % of Gross Household Income

Source: U.S. Census American Community Survey 5 yr average 2008-2012.

54% 19% 9% 19%

Under 30% 30-39.9% 40-49.9% 50% or +

Anchorage Median Rents - 2014

Source: Rental survey by AK Dept of Labor for Alaska Housing Finance Corporation.

$832 $1,082 $1,332 $1,495 Efficiency 1-Bedroom 2-Bedroom 3-Bedroom

How Many Minimum Wage Workers to Afford a One-Bedroom Apartment?

Sources: U.S. Bureau of Labor Statistics; Alaska Dept of Labor rental survey for AHFC.

2.1 Workers 2.0 Workers 2.4 Workers 2.8 Workers 0. 0.7 1.4 2.1 2.8 3.5 2000 2005 2010 2014

18

Home & Condo Average Prices Anchorage MLS - 2014*

Source: Alaska Multiple Listing Service (MLS) and local banks. Based on mid-year report.

$198,880 $359,186

Condos Homes

Income Needed $60,000; $5000/mo

Income Needed $85,000; $7083/mo

Monthly Income to Afford Rent

Source: Bureau of Labor Statistics. Note: numbers in parentheses = number employed in occupation; dollars show hourly wage. Wages needed assumes that 30% of income will be spent on housing. Source: Bureau of Labor Statistics 2013.

$2,284 $3,298 $9,086 $7,044 $2,416 $2,403 $2,570 $2,940 $1,809 $3,547 $2,270 $4,273 $5,648 $5,427

$0 $2,000 $4,000 $6,000 $8,000 $10,000

Retail Sales (6,750) Office Clerks (4,340) Ops Managers (4,010) Nurses-R.N. (3,640) Personal Care Aides (3620) Janitors (3,070) Laborers (2,720) Secretaries (2,630) Food Prep/Serve (2,540) Bookkeepers (2,420) Home Health Aides (1,900)

• Exec. Secret. (1,800)
• Elem. Teachers (1,600)

Carpenters (1,500)

Wages needed to afford 1-bedroom ($3,382) 2-bedroom ($3,843)

Anchorage Housing Trends

Renters 39%

Anchorage Housing Market

2012: 105,517 Households

Owners 61%

Average Apt. Vacancy Rate

Source: Rental survey by AK Dept of Labor for Alaska Housing Finance Corporation.

8.0% 4.7% 4.5% 1.8% 2.3% 2.6% 3.3% 3.2% 0% 3% 5% 8% 10% 2007 2008 2009 2010 2011 2012 2013 2014 Healthy Vacancy Rate 5%

Average Adjusted Rents

Source: Rental survey by AK Dept of Labor for Alaska Housing Finance Corporation.

$ 0 $ 375 $ 750 $ 1,125 $ 1,500 $ 1,875

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

3-Bedroom 2-Bedroom 1-Bedroom Efficiency

Type of Occupied Housing Unit

Source: U.S. Census American Community Survey 5 yr average 2008-2012.

27% 31% 23% 15% 3% 85% 5% 4% 2% 5% Single-Family 2-4 5-19 20 or + Units Mobile Homes

Owner Housing Rental Housing

Age of Housing Units

Source: U.S. Census American Community Survey 5 yr average 2008-2012.

13% 37% 30% 12% 9%

2000-2012 1980-99 1970-79 1960-69 Before 1960

Occupied & Vacant: 113,070 Units

MLS Home Listings for May 2006-2014

Source: Alaska Multiple Listing Service (MLS).

783 1,168 1,137 1,085 960 1,015 774 705 638

313 625 938 1250 2006 2007 2008 2009 2010 2011 2012 2013 2014

Average Home Sale Price (in 1000s)

Source: Alaska Multiple Listing Service (MLS). *Based on mid-year report. $260 $292 $315 $327 $326 $321 $329 $322 $337 $347 $359

$0 $100 $200 $300 $400 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014*

New Housing Units by Type

Source: Municipality of Anchorage Building Permit reports. Totals are for entire Municipality which includes the Anchorage Bowl, Chugiak-Eagle River & Turnagain Arm. 819 1,039 919 884 795 673 525 309 225 232 276 233 303 308 218 674 692 850 464 376 144 170 86 66 94 42 76 100 163 54 307 294 552 673 278 225 62 142 98 94 153 123 300 600 900 1,200 1,500 1,800 2,100 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Multi Family Units Duplex Units Single Family

Residential Construction

How much housing does Anchorage need?

March 2012 Anchorage Housing Market Analysis: Anchorage Bowl will need 18,200 more units by 2030.

New Housing - Anchorage Bowl

Source: Municipality of Anchorage Building Permit reports.

151 149 173 135 178 177 74 48 76 38 62 80 98 142 98 183 121 72 250 500 750 1,000 2008 2009 2010 2011 2012 2013 Multi Family Units Duplex Units Single Family

Projected Need: 909 Units Annually

New Housing Units Actual vs. Need - 2013

Source: Municipality of Anchorage Building Permit reports.

177 318 80 173 72 418

250 500 750 1000

Multi-Family Duplex Single-Family

Actual Need

Current Development

Westpark: Last large subdivision Tax-credit multi-family Coronado Park, Eagle River Redevelopment

Goals

• Anchorage will construct 18,000 net new units of

housing by 2030

• Reduce the percentage of households cost-

burdened—spending more than 30% of their income

• n housing
• Build community acceptance of the necessity of

quality, affordable workforce housing as the foundation of a healthy community.

What housing do you want? What’s important to you for your housing and your neighborhood? Is housing a major factor in your decision to live in Anchorage?

housinganchorage@ak.org www.facebook.com/HousingAnchorage

Thank You!