Comprehensive-Housing-Strategy-Appendices-2021-Draft.Pdf
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APPENDICES Appendix 1: Task 3 Memo: City housing profile Appendix 2: Task 4 Memo: Assessing local housing initiatives Appendix 3: Task 5 Summary: Assessing development barriers Appendix 4: Advisory Group: Presentations, agendas, documents Appendix 5: Council and Public Presentations—Forthcoming Appendix 6: Public Comments Received—Forthcoming Appendix 7: Matrix of Strategies by Type Appendix 8: Targeting and Measurement Guidance APPENDIX 1: TASK 3 MEMO: CITY HOUSING PROFILE Toledo CHS Task 3 | City Housing Profile Task 3. City Housing Profile The City Housing Profile was developed to inform Toledo’s Comprehensive Housing Strategy (CHS) by identifying a core set of unmet housing needs, special housing issues, demographic and economic trends and characteristics, and housing market conditions in the City of Toledo. With the support of Toledo’s Department of Neighborhoods, Enterprise Community Partners, Inc. conducted original quantitative analysis (summary statistics and spatial analysis), that built on relevant data and findings from existing studies and plans. In the completion of the City Housing Profile, the following housing needs or conditions were identified: 1. Toledo’s demographic and household trends: There is limited diversity in housing stock to match the increasing diversity of household types. 2. Toledo’s housing quality and housing market conditions: Toledo experienced a decline in its housing market with recent signs of recovery, and a pressing need for the rehabilitation and repair of owner-occupied homes. 3. Toledo’s housing supply: There is a limited supply of affordable rental homes for lower- income households are at risk of being lost. 4. Disparities in housing outcomes in Toledo: Renters, single parents, seniors, and Black households face housing stability challenges and disparities that extend beyond housing. 1 Toledo CHS Task 3 | City Housing Profile Contents Task 3. City Housing Profile ........................................................................................................... 1 Housing Market Conditions ....................................................................................................... 3 Housing Quality ........................................................................................................................ 4 Housing Affordability ................................................................................................................ 5 Disparities in Housing Outcomes ............................................................................................... 7 Areas of Opportunity ................................................................................................................ 8 Appendix A. City Housing Profile ...............................................................................................10 2 Toledo CHS Task 3 | City Housing Profile Housing Market Conditions Key Takeaways Toledo’s demographic and household trends: There is limited diversity in housing stock to match the increasing diversity of household types. Toledo is a driver for the larger regional economy,1 but Toledo has experienced a decline from 2010 to 2018 in the form of job loss, decline in population and decrease in the median household income. Between 2010 to 2018, the median household income decreased by 5 percent ($39,722 to $37,100 in 2018 inflation-adjusted dollars).2 About one out of every three households in Toledo had an annual income below $25,000 (35 percent). Households of two persons making below $28,800 are considered very low-income according to HUD- define income categories.3 One out every two Black households had an annual income under $25,000 (50 percent). In 2018, the median income among Black households was $24,835, 33 percent lower than the median household income in Toledo ($37,100). Black households make a disproportion share of households making under $25,000 annually, when compared to white and Hispanic households (Figure 1).4 Figure 1. Household income by race and ethnicity, Toledo, OH (2018) 60% 50% 50% 40% 35% 28% 30% 24% 25% 16% 18% 20% 13% 14% 12% 10% 11% 9% 8% 10% 6% 7% 7% 7% 0% <$25,000 $25,000 - 34,999 $35,000 - 59,999 $60,000 - 74,999 $75,000 - 99,999 $100,000+ White, non-Hispanic Black, non-Hispanic Hispanic Source: 2018 American Community Survey 5-Year Estimates Household trends suggest a mismatch between existing housing stock and emerging household demographics (Figure 2). Most of Toledo’s housing stock is single-family detached or attached homes (68 percent) and about 42 percent of single-family detached homes are occupied by single-person households. From 2010 to 2018, there was an increase in the prevalence of single-person households and a decline in family households, corresponding to a slight decrease in household size (2.37 to 2.30 1 According to 2020 Forward Toledo, the city of Toledo is home to over 40% of the region’s private sector jobs. 2 2010 & 2018 American Community Survey 5-Year Estimates 3 Income Limits are based on FY 2020 Fair Market Rent (FMR) for the Toledo, OH MSA with the following AMIs for 2 persons in family, $17,250 is the 30% AMI, $28,800 is 50% AMI, $46,000 is 80% AMI, and $57,600 is 100% AMI. 4 This figure includes the top three race and ethnicity groups in Toledo and excludes other races as they make a smaller share of the total population (less than 6 percent). 3 Toledo CHS Task 3 | City Housing Profile persons). Toledo has a diverse set of household types and family situations reinforcing the need for wider mixture of housing options by income and type (Figure 2). Figure 2. Housing type and household type, Toledo, OH (2018) Single-Family 100% Nonfamily Detached 8% households not 2% 90% living alone Single-Family 80% Single person Attached 37% 5% 70% households 25% Small and Medium 60% Other family Multifamily (3-49 50% 10% households w/o 3% 65% unit building) Large Multifamily 40% children Households with (50+ unit buildings) 26% 30% Children (Married 20% Other (RV, mobile and Single) Married home, boat, etc.) 10% 19% households w/o 0% children Source: 2018 American Community Survey 5-Year Estimates Housing Quality Key Takeaways Toledo’s housing quality and housing market conditions: Toledo has had a declining housing market with recent signs of recovery, and a pressing need for the rehabilitation and repair of owner-occupied homes. From 2010 to 2018, housing market indicators in Toledo that show signs of a declining market include declining property values, rental property quality concerns and an increase in vacant or abandoned properties. From 2010 to 2018, the median home value in Toledo decreased by 28 percent, from $110,386 to $79,900 (in 2018 inflation-adjusted dollars).5 However, recent for-sale trends suggest that home values in Toledo have been on the rise (Figure 3). According to Zillow, at the start of 2018, typical homes were valued at $66,815 in the city. As of October 2020, the typical home value was $79,364 (in 2018 inflation-adjusted dollars). From 2010 to 2018, vacancy in Toledo has increased by 1 percent, with 15 percent (20,243 units) of housing units vacant.6 Figure 3: Zillow Home Value Index (ZHVI), *Toledo, OH (2018-2020) $90,000 $80,000 $79,364 $70,000 $66,815 $60,000 1/1/2018 2/1/2018 3/1/2018 4/1/2018 5/1/2018 6/1/2018 7/1/2018 8/1/2018 9/1/2018 1/1/2019 2/1/2019 3/1/2019 4/1/2019 5/1/2019 6/1/2019 7/1/2019 8/1/2019 9/1/2019 1/1/2020 2/1/2020 3/1/2020 4/1/2020 5/1/2020 6/1/2020 7/1/2020 8/1/2020 9/1/2020 10/1/2018 11/1/2018 12/1/2018 10/1/2019 11/1/2019 12/1/2019 10/1/2020 Source: 2018 – 2020 Zillow 5 2018 American Community Survey 5-Year Estimates 6 2018 – 2020, Zillow Accessed 11/25/2020. 4 Toledo CHS Task 3 | City Housing Profile *ZHVI reflects typical value for homes in Toledo around the 35th to 65th percentile range. The age and condition of Toledo’s housing stock suggests the need for a continued focus on addressing health and safety hazards, with 85 percent of homes in Toledo built prior to 1980.7 Homes built before 1978 have presumed lead-based paint or related health hazards.8 The city’s aging housing stock could be contributing to the rising number of vacant units. Owner-occupied homes are older than renter- occupied ones (median year built of 1952 for owner-occupied homes compared with 1960 for rentals). Over nine out of ten owner-occupied homes were built prior to 1980 (Figure 4). Figure 4: Year built of owner-occupied homes, Toledo, OH (2018) Before 1940 34.8% 1940 to 1949 10.9% 1950 to 1959 24.3% 1960 to 1969 12.5% 1970 to 1979 9.3% 1980 to 1989 3.0% 1990 to 1999 2.8% 2000 to 2009 2.1% 2010 to 2013 0.3% 2014 or Later 0.1% 0% 5% 10% 15% 20% 25% 30% 35% 40% Source: 2018 American Community Survey 5-Year Estimates Housing Affordability Key Takeaways Toledo’s housing supply: There is a limited supply of affordable rental homes for lower-income households at risk of being lost. Around one-third of households (38,575 households) in Toledo pay at least 30 percent of their income for housing costs. 9 Of those households, half of them (19,350 households) are considered “severely cost-burdened,” meaning they pay more than 50 percent of their income for housing costs.10 Rental market trends from 2018 to 2020, suggest that renters are face higher costs, which could increase affordability challenges. A family or person looking to rent a rental unit at the start of 2018 would have a median rent of $837.11 As of October 2020, median rent is $860 (in inflation-adjusted 2018 dollars), a 2 percent increase from 2018. 7 2018 American Community Survey 5-Year