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Innovations in Affordable Housing: Defining Need, Finding Solutions Lisa Sturtevant, PhD Vice President of Research, National Housing Conference Executive.

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Presentation on theme: "Innovations in Affordable Housing: Defining Need, Finding Solutions Lisa Sturtevant, PhD Vice President of Research, National Housing Conference Executive."— Presentation transcript:

1 Innovations in Affordable Housing: Defining Need, Finding Solutions Lisa Sturtevant, PhD Vice President of Research, National Housing Conference Executive Director, Center for Housing Policy

2 What Will Drive Housing Demand? Key demographic and economic trends will shape demand

3 Boomers Growth in 65+ population Source: Housing an Aging Population: Are We Prepared? Projections of Population Change by Age for the U.S.: 2010 to 2050

4 Gen Y’ers Trends among 25-34 year olds Source: U.S. Bureau of Labor Statistics, 2011 Current Population Survey

5 Cities Divergence in housing market recoveries San Francisco, CA $679,800 Source: National Associate of Realtors Cleveland, OH $102,100 Median Single-Family Home Price: Q1 2014 VS

6 Affordability Millions of cost burdened households Source: Housing Landscape 2014

7 Affordability Costs rising faster than incomes Source: Losing Ground Change in Incomes and Housing + Transportation Costs Median-Income Household in Largest 25 Metro Areas: 2000-2010 Housing Costs Transportation Costs Combined H+T Costs Household Income +52% +33% +44% +25%

8 Employment Trading high-wage jobs for low-wage jobs Source: Housing the Future Workforce in the Hampton Roads Region Projected Job Growth Hampton Roads VA: 2013-2033

9 Transit-Oriented Development Demand for walkable neighborhoods Source: Public Transit’s Impact on Housing Costs; Local Policy Options to Support Sustainable and Equitable Development

10 Inclusionary Housing Local affordable housing policies proliferating Location of Inclusionary Housing Programs in the U.S. Source: Designing Inclusionary Housing for Lasting Affordability

11 Housing & Services Meeting the continuum of needs Source: Aging in Every Place; Strengthening Economic Self-Sufficiency Programs

12 Partnerships Critical to meeting housing challenges ahead Housing and community development organizations Non-profit & for- profit housing developers State and local housing advocates Local, state and federal government agencies Information Data Analysis Policy development Best practices Financial institutions

13 Innovations in Affordable Housing: Defining Need, Finding Solutions


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