Agenda - Council - 06/28/2016 - Laserfiche WebLink

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unsubsidized rental units. We include only units with complete kitchen and plumbing facilities. * Manufactured housing data come from the Metropolitan C0unCi|\a 8Dnu8] Manufactured Housing Parks Survey. • Affordable ownership housing data come from the MetroGIS Regional Parcel Datasets. We count ownership units as affordable if they have a homestead exemption and their assessed value would produce monthly mortgage payments (including principal, interest, property taxes, and insurance) at or below 29% of the monthly household income of a household earning 30%, 50%, or 80% of the area median income. We exclude manufactured homes in arnanufaotured housing park, condo -garage ormiscellaneous units, and condo -coop garage or storage units from this analysis. The estimated market value thresholds are as follows: Year of we�s� � A ror*abAeat or Glow A � 3 % of e tweem an* 50% of A � A Iff e able ketween 51 Y6 and 30% of A IN1 2013 value x=$74,U00 $74,001 <= value *=$133,00 $133,p0x=value <= $217,000`�� ' 2012 value x=$78,5UU $78.501 x=value x=$141,500 $141,501 x=value x=$227,500 2011 value «=$78.0O0 ` $73001*=value <=$181.500 ` $181,501<=value <= VO 2010 value x=$81,500 $81.501 x=value x=$14O.000 $146.001 x=value x=$232,500 2009 value x=$79,0O0 $79,001 *= value x=$141/5UU/� .$141]501 x=value x=$228,5UO Note: Thresholds are rounded tothe nearest $500. We use these data to estimate the share of rental and ownership units in each community that are affordable 8t30Y6,50Y6,and 80Y60fAW1L (All manufactured homes are assumed to be affordable at30Y6 ofAW1|] We apply these shares 1othe Metropolitan CounCi|'a annual estimates 0fhousing units ineach community, producing estimates 0faffordable housing units. We then adjust rental and ownership numbers for consistency with the tenure distribution in the American Community Survey one-year estimates for each year, and adjust rental numbers for consistency with the affordability distribution of rental units in the American Community Survey one-year Public Use W1iorodata Samples. To estimate the number of households whose income is at various levels of AMI, we identify the shares 0fhouseholds ineach community whose incomes are 8t0[below 30Y60fAW1|, 31Y6 to 50% ofAW1|, and 51Y6 to 80% ofAW1| from CHAS data. We apply these shares to the Metropolitan C0unCi|'Sannual estimates 0fhouseholds ineach community, producing estimates of low- and moderate -income households. We then adjust these numbers for consistency with the household income distribution in the American Community Survey one-year Public Use W1iorodataSarnp|ea. HOUSING POLICY PLAN Appendices