State of the State: Housing Perspectives from the field State of - - PowerPoint PPT Presentation

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State of the State: Housing Perspectives from the field State of - - PowerPoint PPT Presentation

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State of the State: Housing Perspectives from the field State of the State: Housing Perspectives from the field This report is prepared by Sagamore Institute For additional information, please contact Dr. JoAnna M. Brown, Senior Research

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State of the State:

Housing Perspectives from the field

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State of the State:

Housing Perspectives from the field

This report is prepared by Sagamore Institute For additional information, please contact Dr. JoAnna M. Brown, Senior Research Fellow, Super Cities - Sagamore Institute at joannab@sagamoreinstitute.org. 2902 N. Meridian Street The Levey Mansion Indianapolis, IN 46206 Report available at www.sagamoreinstitute.org/supercities In partnership with

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What is the state of Indiana post- Great Recession?

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Research Methodology

DEMOGRAPHIC DRIVERS – SOCIO ECONOMIC HOMEOWNERSHIP RENTAL HOUSING HOUSING STABILITY AND SUPPORTS

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SLIDE 5

Research Methodology

0.4% 2.2% 4.0% 0.7% 14.5% 2.5% 3.3% 6.2% 2.9% 5.1% 1.4% 0.4% 0.0% 2.5% 18.8% 0.4% 28.6% 6.2%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0%

Accounting Advocacy Building/Construction Civic Organization Community Action/Community Development Consulting Development: Private Development: Non-profit Faith-based Financial Institution/Investment Housing Counseling Journalist Landbanking Legal/Attorney Local Government/Public Policy Market Analysis Non-profit Property Management Source: Sagamore Institute, Housing Perspectives Survey Outcomes Statewide (N=274)

Study Participants

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Research Methodology

Source: Sagamore Institute, Housing Perspectives Survey Outcomes Statewide (N=274)

Study Participants

27.6% 10.9% 12.9% 9.7% 8.2% 7.9% 2.6% 15.8% 4.4%

0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Central East Indiana NE Indiana NW Indiana SE Indiana SW Indiana West Indiana All of Indiana Outside of Indiana Percent

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CURRENT PERSPECTIVES

Views from housing professionals and advocates working in the field.

Homebuyers and renters face a lack of affordable inventory and an extremely competitive market.

  • High price of construction =lack of affordability/availability
  • Shortage of low-rent stock
  • Mismatch between affordable housing and desirable housing
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Top key issues identified as critical/important by housing professionals and advocates:

  • 1. Addressing the gap between how much affordable housing units are needed vs. existing housing units. (89.4%)
  • 2. Aligning supportive services with housing. (79.9%)
  • 3. Increasing housing options for the lowest income households. (79.9%)

56.6% 36.5% 42.7% 34.7% 37.6% 38.7% 29.9% 35.4% 28.1% 28.8% 21.9% 23.0% 22.3% 21.5% 17.9% 16.8% 32.8% 43.4% 37.2% 42.3% 39.4% 36.1% 43.8% 37.6% 43.8% 38.0% 40.1% 37.6% 36.5% 31.0% 32.5% 28.5%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

  • 1. Addressing the gap between how much affordable housing units…
  • 2. Aligning supportive services with housing.
  • 3. Increasing housing options for the lowest income households.
  • 4. Ensuring a baseline of quality in every housing unit.
  • 5. Improving access to jobs, good schools, transit, and other…
  • 6. Imbalance between strong demand and lowered levels of housing…
  • 7. Helping older adults age in place.
  • 8. Addressing homelessness.
  • 9. Preserve/maintain existing housing stock to reduce displacement.
  • 10. Expanding housing options for people facing barriers (criminal…
  • 11. Addressing foreclosures/vacancies/blight.
  • 12. Improving access to rental assistance/support.
  • 13. Addressing racial segregation and concentrations of poverty or…
  • 14. Increasing landlord acceptance of housing vouchers.
  • 15. Transitioning renters into homeowners.
  • 16. Examining eviction reform.

Housing Stability and Support

Critical Important Somewhat important Least important Not an Issue/NA

Housing Perspectives: Housing Stability and Support-Survey Outcomes - Statewide

Current Perspectives: Homeownership Survey Outcomes (N=274)

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5,177 1,745 3,112

1,000 2,000 3,000 4,000 5,000 6,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Number of New Homes Constructed

New Construction

New Construction of Single-Family Homes (Year Built = Year Closed): Statewide Trends

Source: Indiana Business Research Center - Indiana University Purdue University- Indianapolis, StatsIndiana, 2019.

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40.1% 43.1% 38.3% 25.2% 27.0% 26.6% 22.6% 27.4% 23.7% 22.3% 27.7% 24.5% 25.5% 15.7% 9.5% 41.2% 33.9% 33.6% 44.5% 42.3% 42.3% 41.2% 35.4% 38.7% 39.8% 33.2% 35.0% 30.7% 32.8% 31.4%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

  • 1. Addressing the physical condition of distressed rental properties.
  • 2. Addressing shortfall in housing affordable to extremely low-…
  • 3. Addressing the decline in low-rent housing units.
  • 4. Preserving naturally occurring affordable housing.
  • 5. Access to service providers to support permanent supportive…
  • 6. Diversifying the rental housing stock by size and type.
  • 7. Preserving public and other government-assisted housing.
  • 8. Building more rental housing.
  • 9. Increase funding for rental assistance/supports.
  • 10. Access to additional gap financing.
  • 11. Addressing government regulations that increase development…
  • 12. Helping small landlords maintain quality rental housing.
  • 13. Addressing government regulations that increase development…
  • 14. Examine/reduce screening criteria and barriers.
  • 15. Engaging employers in developing rental housing.

Rental Housing Critical Important Somewhat important Least important Not an Issue/NA

Housing Perspectives: Rental Housing - Survey Outcomes Statewide

Top key issues identified as critical/important by housing professionals and advocates:

  • 1. Addressing the physical condition of distressed rental properties. (81.3%)
  • 2. Addressing shortfall in housing affordable to extremely low-income renter households. (77.0%)
  • 3. Addressing the decline in low-rent housing units. (71.9%)

Source: Sagamore Institute, Housing Perspectives Survey Outcomes Statewide (N=274)

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88% 73% 29% 4% 73% 19% 3% 1%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% AT EXTREMELY LOW INCOME EXTREMELY LOW INCOME TO 50% AMI 51% TO 80% AMI 81 TO 100% AMI Percent of Renter Households

% of Renter Households with Cost Burden % of Renter Households with Severe Cost Burden

Cost-burdened Renter Households by Incomes Work Hours/Week at Minimum Wage

Source: National Low-Income Housing Coalition, 2019. Source: National Low-Income Housing Coalition, 2019.

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Affordable and Available Rental Units per 100 Households at or below Threshold

37 77 107 108

20 40 60 80 100 120 AT EXTREMELY LOW INCOME EXTREMELY LOW INCOME TO 50% AMI 51% TO 80% AMI 81 TO 100% AMI

Percent of Affordable and Available Rental Units (per 100 Households or below Threshold)

Affordable and Available Rental Units per 100 Households at or below Threshold

Source: National Low-Income Housing Coalition, 2019.

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40.1% 43.1% 38.3% 25.2% 27.0% 26.6% 22.6% 27.4% 23.7% 22.3% 27.7% 24.5% 25.5% 15.7% 9.5% 41.2% 33.9% 33.6% 44.5% 42.3% 42.3% 41.2% 35.4% 38.7% 39.8% 33.2% 35.0% 30.7% 32.8% 31.4%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

  • 1. Addressing the physical condition of distressed rental properties.
  • 2. Addressing shortfall in housing affordable to extremely low-…
  • 3. Addressing the decline in low-rent housing units.
  • 4. Preserving naturally occurring affordable housing.
  • 5. Access to service providers to support permanent supportive…
  • 6. Diversifying the rental housing stock by size and type.
  • 7. Preserving public and other government-assisted housing.
  • 8. Building more rental housing.
  • 9. Increase funding for rental assistance/supports.
  • 10. Access to additional gap financing.
  • 11. Addressing government regulations that increase development…
  • 12. Helping small landlords maintain quality rental housing.
  • 13. Addressing government regulations that increase development…
  • 14. Examine/reduce screening criteria and barriers.
  • 15. Engaging employers in developing rental housing.

Rental Housing Critical Important Somewhat important Least important Not an Issue/NA

Housing Perspectives: Rental Housing - Survey Outcomes Statewide

Top key issues identified as critical/important by housing professionals and advocates:

  • 1. Addressing the physical condition of distressed rental properties. (81.3%)
  • 2. Addressing shortfall in housing affordable to extremely low-income renter households. (77.0%)
  • 3. Addressing the decline in low-rent housing units. (71.9%)

Source: Sagamore Institute, Housing Perspectives Survey Outcomes Statewide (N=274)

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Number and Share of Renter Households

754.1 789.6

27.0% 27.5% 28.0% 28.5% 29.0% 29.5% 30.0% 30.5% 31.0% 31.5% 600 620 640 660 680 700 720 740 760 780 800 2000 2009 2010 2011 2012 2013 2014 2015 2016 2017

Percent of Households Number of Households (in thousands)

Renter Households Share of Renter Households

Source: U.S. Census Bureau of ACS 3-year estimates and Indiana Business Research Center - Indiana University Purdue University- Indianapolis, StatsIndiana, 2019.

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458.1 436.4 438.3 412.2 419.3 416 227.8 394.8 391.2 381.5 373.9 352.5 323.3

0% 10% 20% 30% 40% 50% 60% 70% 80% 50 100 150 200 250 300 350 400 450 500 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Percent of Units Number of Units (in thousands)

Number of Units Renting for Less than $600 Share of Units Renting for Less than $600

Great Recession

Low-Rent Housing Stock – Statewide Trends, 2005 to 2017

Source: U.S. Census ACS, 2005 to 2017.

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39.1% 34.7% 31.4% 27.4% 24.8% 18.2% 24.8% 28.1% 21.5% 20.4% 24.1% 21.2% 16.4% 20.8% 11.3% 4.4% 40.5% 38.7% 40.9% 41.6% 41.6% 42.7% 35.0% 31.4% 38.0% 38.3% 33.9% 36.1% 36.9% 29.9% 30.3% 20.4% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

  • 1. Encouraging communities to have a range of ownership options…
  • 2. Expanding workforce housing/ homeownership options for low…
  • 3. Addressing the physical condition of distressed owner-occupied…
  • 4. Helping lower-income homeowners maintain their homes.
  • 5. Expanding tools that increase access to ownership (education,…
  • 6. Leveraging community assets to combat deficiencies in capital,…
  • 7. Addressing government regulations that increase development…
  • 8. Addressing the housing shortages/lowered levels of new single-…
  • 9. Building more “starter homes”.
  • 10. Addressing Indiana’s homeownership disparity for people of

…

  • 11. Surge in home prices.
  • 12. Addressing other factors that increase development costs…
  • 13. Improving access to homeownership counseling.
  • 14. Encouraging employers to support homeownership for their…
  • 15. Encouraging alternative forms of ownership (community land…
  • 16. Expanding manufactured housing.

Homeownership

Critical Important Somewhat important Least important Not an Issue/NA Housing Perspectives: Homeownership - Survey Outcomes Statewide

Top key issues identified as critical/important by housing professionals and advocates:

  • 1. Encouraging communities to have a range of ownership options (affordability and building type). (79.6%)
  • 2. Expanding workforce housing/ homeownership options for low to middle-income families/households. (73.4%)
  • 3. Addressing the physical condition of distressed owner-occupied properties. (72.3%)

Source: Sagamore Institute, Housing Perspectives Survey Outcomes Statewide (N=274)

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State of the State:

Housing Perspectives from the field

This report is prepared by Sagamore Institute For additional information, please contact Dr. JoAnna M. Brown, Senior Research Fellow, Super Cities - Sagamore Institute at joannab@sagamoreinstitute.org. 2902 N. Meridian Street The Levey Mansion Indianapolis, IN 46206 Report available at www.sagamoreinstitute.org/supercities In partnership with