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Affordable housing needs are increasing
Source: U.S. Census Bureau, 2000 Census and 2005 and 2011 American Community Survey
The Outlook in 2013 Anne Ray September 10, 2013 Affordable housing - - PowerPoint PPT Presentation
The Outlook in 2013 Anne Ray September 10, 2013 Affordable housing - - PowerPoint PPT Presentation
Affordable Rental Housing Preservation The Outlook in 2013 Anne Ray September 10, 2013 Affordable housing needs are increasing Low Income (<60% AMI), Cost Burdened (>40%) Renters, 2005-2011 Source: U.S. Census Bureau, 2000 Census and
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Florida’s Assisted Housing Inventory
Affordable rental housing subsidized by Florida Housing,
HUD, USDA RD, local housing finance authorities
2,265 developments with 246,527 units 1,052 developments/62,513 units receive HUD or RD
project-based rental assistance
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Lost Properties Inventory
Source: Shimberg Center for Housing Studies, Assisted Housing Inventory & Lost Properties Inventory
Assisted units lost, 1993-2012
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Lost units stall affordable housing progress
Source: Shimberg Center for Housing Studies, Assisted Housing Inventory & Lost Properties Inventory
Assisted units gained vs. units lost, 2004-2012
Net change, 2004-2007: +15,573 units Net change, 2008-2012: -728 units
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Properties at risk
Expiring subsidies by 2020:
Section 8 contracts: 145 developments (14,059 units) Expiring mortgages/LURAs: 35 developments (4,604 units)
Aging developments (30+ years old): 432 developments
(41,443 units)
Failing REAC scores: 32 developments (4,299 units)
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Preservation focus on HUD/RD rental assistance units
Florida’s rental assistance units:
Average annual income: $11,342 72% of households are extremely low-income (<30%
AMI)
Half of households are elderly Half of units are 0-1 BR; 1/3 are 2 BR
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Rental assistance greatly reduces tenant payments
Sources: Shimberg Center for Housing Studies, Assisted Housing Inventory; U.S. Census Bureau, 2011 American Community Survey
Average Tenant-Paid Rents in Florida
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Next preservation risk: 30-year LIHTC
Sources: Shimberg Center for Housing Studies, Assisted Housing Inventory
Units with Expiring LIHTC Restrictions, 2021-2030
Total potential loss: 18,414 units
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