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2018-19 Community Council Study Topic Affordable Housing 2018-19 Community Council Study Topic Study Criteria: Manageable Citizen interest Important Effective Necessary Timely

Study Process Identify Study Committee Chair Invite residents to participate in the study Convene Study Management Team Refine issue statement Draft preliminary syllabus Engage resource speakers Begin study…

Affordable Housing Issue Statement Explore the need for safe and affordable housing in the region. Consider the broader dynamics of economic growth that impact wages and housing costs. Investigate the production of housing stock, and factors that impact the costs of housing. Identify barriers that people face when trying to access safe and affordable housing. Recommend ways to meet the need for safe and affordable housing.

Study Meetings 17 weeks of resource speakers 3 weeks to review findings report 3 weeks to draft conclusions 3 weeks to draft recommendations

Study Outcomes Findings report to share with the community Recommendations to direct advocacy work for the next 2-3 years

Study Process Outcomes Encourage active listening Build shared knowledge Consensus-based decision-making process Foster community and guide collective action

41% of residents do not live in housing that is affordable Findings - Highlights 41% of residents do not live in housing that is affordable

  Production Home Builder Affordability Gap Calculation, 2018 HAI Calculation (WRERC, 2018 Q3) Annual income $50,439 (Median Household Income, City of Walla Walla) $62,700 (Median Family Income, Walla Walla County) Down payment 5% 20% Interest rate 4.77% Taxes Not included Mortgage insurance Mortgage type 30-year conventional Median House Price 273,900 238,100 Affordable? NO $247,261 is affordable for the median-income household, the affordability gap is $26,639. YES HAI is 131.2, the median-priced home is affordable to the median-income household.

Findings - Highlights 41% of residents do not live in housing that is affordable There is an inventory mismatch

Findings - Highlights 41% of residents do not live in housing that is affordable There is an inventory mismatch Transportation costs add to the cost of housing Weatherization and repair help preserve existing housing stock

Findings - Highlights 41% of residents do not live in housing that is affordable There is an inventory mismatch Transportation costs add to the cost of housing Weatherization and repair help preserve existing housing stock There are barriers to accessing affordable housing

Next Step Implementation Task Force convenes to begin advocating for study recommendations: fall 2019.