Resolution No. 4834 Exhibit - Laserfiche WebLink

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· There will be a demand for an additional 7,000 housing units by 2009 while maintaining a vacancy rate of 5.7%. · Housing costs will continue to increase at a more rapid rate than incomes, due in large part to Iow wages. · Since 1990, single person and non-family households have increased at a higher rate that all other household types. Elderly households, as a percentage of total households, have decreased. · There are more owner-occupied housing units with larger average household size than renter-occupied housing units. · In 2000, there were 82,944 total housing units in the Eugene-Springfield area. · In 2004, the median sales price was $163,000. A well-publicized 1998 study by the National Association of Home Builders (NAHB) identified Eugene-Springfield as the second least affordable among 186 markets nationwide. A family earning the median income will spend approximately 45.0% of its income on principal, interest, taxes, and insurance, if they purchase a house at this price. · More renter households have less than standard conditions compared to owner- occupied units. · Low-income families are primarily renters. · The median household income for the Eugene-Springfield metro area in 2000 was $35,085. ESRI reports that the 2004 median income is $39,237 and projects $45,149 for 2009. This is an annual rate increase of 2.85%, which approximates the rate of inflation. · The work force participation rate in Eugene has increased from 1990 at 64.0% to 65.0% in 2000. In Springfield, the population in the work force has increased since 1990 from 66.0% to 68.0% in 2000. Housing Needs Analysis The highlights of the housing needs section are summarized below: · Significant need exists despite an economy showing slow but steady gains. · Cost burden for renters continues to be the major housing problem due to Iow wages coupled with increasing housing costs. · Housing conditions, in addition to cost burden, will become a more significant factor in the future. · More renters than owners live in substandard conditions. · There continues to be a need to add to the supply and to retain existing affordable housing units coupled with supportive services to encourage self-sufficiency. · It is difficult for Iow- and very Iow-income owners to maintain and make needed housing repairs. Elderly households make up a large percentage of these owners. · Data shows that 64.0% of Iow-income elderly rental households are cost burdened; 49.0% are severely cost burdened. · One-third of all renter households are Iow-income of which 75.0% are cost burdened. · Minority renters in Springfield show a disproportionate greater need than Lane County or Eugene minority renters. · Households with children have significantly more housing problems than households without children. · Large Iow-income families report having housing problems at a higher rate than any other household type.