Washington Area Housing Partnership Workforce Housing Briefing City of Bowie March 27, 2006 Hon. Barbara Favola Chair, Washington Area Housing Partnership Member, Arlington County Board

Workforce Housing In the Metropolitan Washington Region, we are a victim of our own success. This region is a great place to live, work, visit and invest. Unfortunately though, it is unaffordable for many who live here.

 $479,000 Avg. Sales Price of a housing unit in the region. (Source: 4 th Quarter Metropolitan Regional Information Systems)  $390,801 Avg. Sales Price of a housing unit in Bowie. (Source: 2005 Metropolitan Regional Information Systems)  Households earning less than $102,000 annually are unable to afford the average housing unit in Bowie. (Source: MWCOG and Metropolitan Regional Information Systems)  Families earning Bowie’s Median Family Income of $82,403 would need to spend 40% of their monthly income on the avg. home. (Source: City of Bowie Annual Action Plan FY 2006 and MWCOG) The escalating housing costs in the metropolitan region make recruiting new teachers, police officers and firefighters difficult. Problem Statement

$2,600 Monthly Mortgage of Avg. Home Sold in Bowie *Monthly cost based on 2005 MRIS home sales data ($390,801 loan at a 7% interest rate over 30 years) Note: Wages for the OES survey are straight-time, gross pay, exclusive of premium pay. Avg. Monthly Occupational Income for Washington Region compared to the Monthly Mortgage Cost for the Avg. Home Sold in Bowie

 Attracts new residents that provide everyday services to a community, such as teachers, child care providers and law enforcement officers.  Creates options for residents to live near their place of employment, thus reducing traffic congestion and time spent away from families. –Housing Costs are crucial to 67.6% of business location decisions. Source: Development Magazine  Means never having to tell your graduates, new families, disabled, or seniors, "you must leave us because there is no housing for you." Workforce Housing Benefits the Community and the Economy

The Partnership: Convenes regional leaders and stakeholders to advocate for expansion of affordable housing opportunities. –Researches and reports on local housing policies and provides technical assistance to non-profit organizations and local governments. –Recognizes successful local government policies and programs through the Partnership’s Best Practice Awards. –Includes lending institutions, national advocacy groups, local governments and affordable housing developers.

Outlines affordable housing best practices Provides examples of successful implementation by local governments Launched Dec The Toolkit

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