Report Council Presentation January 27, 2020 Photo: Alicia - PowerPoint PPT Presentation

Town of Oliver Housing Needs Report Council Presentation January 27, 2020 Photo: Alicia Leclercq

Background Photo: Alicia Leclercq

Housing Needs Reports New provincial requirement (April 2019) • Must be updated every 5-years • – Monitor progress and evaluate actions Help local governments and the B.C. government better • understand and respond to housing needs Useful information for businesses, developers, service • providers, and citizens Report on “ Core Housing Need ” • Desktop research (Census, BC Assessment, BC Stats) •

“Core Housing Need” 3 questions determine if a household is in core housing need: Adequacy • Does the dwelling require major repairs? Suitability • Is the dwelling overcrowded? Affordability • Can the household afford acceptable alternative housing? • Affordable means spending less than 30% of total income on housing

Population and Projections Photo: Alicia Leclercq

Population: Projected population Projected population increase of 430 people by 2024 600 people by 2027 Above 2016 population Oliver Historical and Anticipated Population and Growth Rates, 1991 - 2026 6000 50% 5529 5000 40% 5214 4928 4824 4370 4000 30% Growth Rate 4285 Population 4224 3743 3000 20% 2000 14% 10% 13% 10% 6% 6% 1000 0% 3% 2% -1% 0 -10% 1991 1996 2001 2006 2011 2016 2021 2026 Population Census Year Growth rate

Population: Projected population by age group Oliver, Anticipated Population Change, By Age Group 2016-2027 2200 2000 1800 1600 Number of People 1400 1200 1000 800 600 400 200 0 0-14 15-19 20-24 25-64 65-84 85+ Age Groups 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Income and Economy Photo: Alicia Leclercq

Income: Renter and Owner Households Average Income Owner and Renter Households, 2006-2016 $80,000 $75,000 $70,000 $65,000 $60,000 Owner Owner $55,000 Owner $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 Renter Renter $20,000 Renter $15,000 $10,000 $5,000 $- 2006 2011 2016 Renter Owner Overall Average

Income: Household income distribution Oliver Household Income, 2016 350 325 300 250 260 240 235 200 195 190 185 165 150 125 100 95 75 50 35 25 0 Under $10,000 to $20,000 to $30,000 to $40,000 to $50,000 to $60,000 to $70,000 to $80,000 to $90,000 to $100,000 $150,000 $200,000 $10,000 $19,999 $29,999 $39,999 $49,999 $59,999 $69,999 $79,999 $89,999 $99,999 to to and above $149,000 $199,999 2016

Income: Number of workers Change in Number of Workers, 2011-2016 Agriculture, forestry, fishing and hunting 7% Transportation and warehousing 3% Manufacturing 3% Construction 3% Retail trade 2% Real estate and rental and leasing 2% Finance and insurance 2% Mining, quarrying, and oil and gas extraction 1% Wholesale trade 1% Professional, scientific and technical services 1% Arts, entertainment and recreation 0% Accommodation and food services 0% Utilities -1% Other services (except public administration) -3% Public administration -3% Administrative and support, waste management and… -3% Information and cultural industries -4% Health care and social assistance -4% Educational services -6% -8% -6% -4% -2% 0% 2% 4% 6% 8%

Housing Photo: Alicia Leclercq

Housing: Structural type Oliver Housing Units By Structural Type, 2016 Single-detached house 1475 Apartment ( < 5 storey 275 building) Row house 245 Movable dwelling 80 Semi-detached or 65 double house Apartment/flat in a 15 duplex Other single-attached 10 house 0 100 200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500

Housing: Number of bedrooms Oliver Housing Units By Size, 2016 900 855 800 700 685 600 500 450 400 300 200 160 100 0 1 Bedroom 2 Bedrooms 3 Bedrooms 4+ Bedrooms

Housing: Date built (as of 2016) Oliver Housing Units by Date Built, 2016 600 605 500 480 400 410 340 300 260 200 100 65 0 pre-1960 1961-80 1981-90 1991-00 2001-10 2011-16

Housing: Sales prices (2019) Single family: • • 2 bedroom - $402,500 • 3 bedroom – $425,000 Row housing (townhomes) • • 1 bedroom - $117,500 • 2 bedroom - $235,000 • 3 bedroom - $ 334,302 Rental units* • • 1 bedroom - $840 /month • 2 bedroom - $1250 /month • 3 bedroom - $1370 /month

Housing: Who can afford to buy here? • Young family wants to buy in Oliver: $400,000 for a median 2 bedroom house: • $1,800 in monthly mortgage payments + • $400 in total extra costs (tax, utilities, insurance) = • $2,200 in monthly housing costs To afford this, they should earn $88,000 /year Median household income in Oliver is $55,000 /year

Key Findings Photo: Alicia Leclercq

Key Findings: Core Housing Need An estimated 215 households (11%) are currently in core housing need Renter households are much more likely to be in core housing • need than owners An estimated 90 households (4%) are currently in “ extreme ” core housing need • Needing to spend 50% or more of total income on acceptable housing

Key Findings: Core Housing Need Percentage of households in Core Housing Need has risen slightly since 2006 Lower in Oliver (10%) than across BC (15%) Oliver, Core Housing Need, 2006 - 2016 100% 2.8% 98% 4.2% extreme core 5.1% 96% housing need 5.8% 94% 3.3% 5.8% 92% core housing need 90% 88% 86% Not in core 91.5% 91.4% 90.0% housing need 84% 82% 80% 2006 2011 2016

Key Findings: Core Housing Need: By 2025, an estimated 235 households will be in core housing need This doesn’t necessarily mean 235 new units are required Reducing core housing need: Reduce Improve relative cost dwelling of housing conditions

Key Findings: Homeless and Provisionally Housed: An estimated 50 youth are provisionally housed – No security of tenure, temporarily housed, staying with friends, family, or sometimes strangers Another 32-40 people are homeless or living in trailers or vehicles

Key Findings: Basic Housing Demand By 2025: An estimated 187 new units containing at least 500 bedrooms • The majority of these need to be rental units • Number of renter householders grew by 22% from 2006-2016 • Progress is being made towards these targets (over 100 new units • approved since 2016) Oliver, Number of Additional Housing Units Required by 2025 1 bedroom -8 22 2 bedroom 26 49 3 bedroom 29 30 4+ bedroom 27 8 -10 -5 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 Owner Renter

Key Findings: Age-Friendly Housing Nearly half of Oliver residents will be aged 65+ within the next 10-years How can housing promote the physical and social well- being of seniors?

Summary - Core housing need remains a challenge - Homelessness and provisional housing should continue to be monitored - Oliver will be on track to meet housing demand if current pace of development is maintained - Age-friendly housing - Rental and affordable housing should remain a priority Photo: Alicia Leclercq

Thank You Photo: Alicia Leclercq