1. Housing Affordability in Cincinnati and Hamilton County
Report prepared by the Community building institute for LISC of Greater Cincinnati/northern kentucky
March, 2017

2. Housing in the 80s and 90s Population losses, 1970-1990:
Cincinnati: -89,500 (20% decline)
Hamilton County: -59,700 (6% decline)
Communities struggle to maintain market value and quality of life
Community-based CDCs form
Retain and attract the middle-class

3. Foreclosure Crisis,
23,905 Hamilton County properties sold at Sheriff’s Sales between 2006 and 2014 (WIN, 2014)
42% were in Cincinnati
Between 2005 and 2010:
Median SF/Condo market sales price: -7%
Number of SF/Condo market sales: -40%
2010: 43,000 more housing units than households in Hamilton County

4. Aftermath
CDCs working to retain middle-class residents and improve community quality-of-life
Port Authority creates tools to address poor property conditions, vacant properties
Legal Aid working with courts to address unscrupulous landlords
WIN and Legal Aid working with homeowners to keep homes

5. Where we are today 47,956 vacant units in the County
(10% increase since 2010)

6. Cost burdened households
Over 100,000 households in Hamilton County paying over 30% of their income for housing
Cost burden most severe for households making only 30% of AMI
44,500 households
17,000 Family households
10,000 Senior households

7. Cost Burdened, Extremely Low Income Households

8. Cost Burdened, Extremely Low Income OWNERS

9. Cost Burdened, Extremely Low Income RENTERS

10. Gap for low income families widening
Fewer total households, but more households in poverty
Slight reduction in HUD subsidized units
Increase in LIHTC
2000
2014

11. Rising cost of housing outpaces income

12. Gap in housing options for lowest-income households

13. Gap in housing options for lowest-income households
~40,000 units

14. Change in number of rental units, 2000 to 2014
*Year 2000 rents adjusted for inflation to 2014 values

15. Change in number of rental units, 2000 to 2014
-12,237 low cost rental units in Cincinnati
+1,852 low cost rental units in “suburban” Hamilton County (outside of Cincinnati) *
*Year 2000 rents adjusted for inflation to 2014 values

16. Change in low cost rental units

17. Change in moderate/high cost rental units

18. Decrease in low cost + increase in mod/high cost rentals

19. Changes in subsidized housing options

20. Changes in subsidized housing options
-2%
25,862
25,328

21. Changes in subsidized housing options

22. Subsidized housing throughout the county

23. Change in Median SF/Condo Sales Price, 2000-2015*
* (Warranty Deed sales only)

24. Summary of report findings
Housing market successfully emerging from the recession
County median sales price up 24% since 2000
Still over 45,000 vacant units in County
Leaving behind 100,000 cost-burdened households
Most severe burdens felt by lowest income households
Gap is widening

25. Presentations this afternoon: some local models
OTR
Retaining affordable housing in a gentrifying market
Price Hill
Stabilizing a hard hit single family market
Evanston
Recreating the middle of the market with large historic homes

26. Toward a more comprehensive housing strategy
Increase household income for families so they can afford more house in the market
Strategies that provide new and re-invest in existing affordable housing for our poorest neighbors
Support single family homeowners throughout the City & County

27. Toward a more comprehensive housing strategy
Enhance the systems and tools that support a healthy housing market
City/County policies
Support network of intermediaries and CDCs that do community development work
Support the network of organizations that hold landlords accountable and protect homeowners and renters
Provide adequate funding for community-based housing development

28. Policy & Program Options
Affordability
Stability/Insecurity
Policy: not direct spending on housing (may still have costs in oversight/implementation)
Program: require committing dollars for housing production/renovation or specific programs
Want to preserve and increase housing affordability, especially for lowest income households which are most in need
Want to decrease insecurity and thus increase stability of households, stay in housing longer has benefits
Important to keep in mind, in the US, most housing is a commodity and it is created by private parties and sold or rented for profit.

29. Policy Options Inclusionary Housing Tenant Rights Housing Court
Just cause eviction
Source of income discrimination
Tenant right of first refusal
Housing Court
Rental Registration
Prioritize Nonprofit Developers

30. Program Options Housing Trust Fund Homesteading Renter Rehabilitation
Renter Equity
Nonprofit Master Lease