Ho using Ne e ds a nd Cha ng ing De mo g ra phic s Zo ning Co - PowerPoint PPT Presentation

Ho using Ne e ds a nd Cha ng ing De mo g ra phic s Zo ning Co mmissio n Wo rk Se ssio n F e b rua ry 4, 2020

Ag e nda • Unde rsta nding Ho using T re nds • Cha ng ing De mo g ra phic s • Using e xisting ho using to me e t de ma nd • Ne w c o nstruc tio n to me e t de ma nds: c a se studie s

I mpo rta nc e o f Ho using • Ba sic huma n ne e d • I mpo rta nt ro le in sha ping o ur ne ig hb o rho o ds a nd c o mmunitie s, a nd re a c hing so c ia l, e c o no mic a nd c ultura l ne e ds • Ho using ma ke s up 20% o f GDP in a he a lthy e c o no my • Histo ric a lly, it’ s the g re a te st so urc e o f we a lth & sa ving s

Cha ng e s in Pe o ple – Ho use ho lds – Ho using Units • Pe o ple living a lo ne (sing le wo me n, divo rc e e s, se nio rs) • Unre la te d ho use ma te s • Co uple s witho ut c hildre n (b e fo re kids, ne ve r ha d kids, a fte r kids) • Co uple s with c hildre n • Sing le -pa re nt fa milie s • Multi-g e ne ra tio na l fa milie s

E vo lutio n o f Ho using Style s 1920s – 1930s Yo ung sto wn, Akro n, Cle ve la nd Are a Cha ra c te ristic s 45% ho me o wne rship ra te • Sma ll lo ts • Ofte n lo c a te d c lo se to the stre e t with fro nt po rc he s • Ca rria g e ho use • Sma ll c lo se ts with b uilt-in sto ra g e • Sma ll kitc he ns • L a rg e r fa milie s – kids sha re d b e dro o m • De nse r ne ig hb o rho o ds – b e fo re a uto s we re • c o mmo npla c e

E vo lutio n o f Ho using Style s 1940s – 1970s Po st Wa r Bo o m Yo ung sto wn, Akro n, Cle ve la nd Are a Cha ra c te ristic s Ra pid g ro wth in US po pula tio n; spike in ho me o wne rship ra te • (60%+) Ho using de ve lo pme nt shifte d to sub urb s with b o o m in c a r • sa le s; a ds e mpha size g a ra g e s & drive wa ys Inc re a se d mo de rn c o nve nie nc e s: c e ntra l he a ting , AC • Ne w style s: b ung a lo ws, sing le -sto ry ra nc he s, b i-le ve l, split le ve l • Ho use s b uilt n 1940-1950 sma lle r (o n a vg ) tha n tho se b uilt a ny • o the r de c a de Ofte n multi-g e ne ra tio na l ho use ho lds • 1960s – first time ho using wa s ta rg e te d to re tire e s; ho me o wne rs • who no lo ng e r ne e de d a b ig ho me , a nd a lso e njo ye d living in a c o mmunity g e a re d to wa rd me e ting the ne e ds o f the ir a g e g ro up.

E vo lutio n o f Ho using Style s 1980s – 2000s Yo ung sto wn, Akro n, Cle ve la nd Are a Cha ra c te ristic s De c lining / sta g na nt g ro wth in NE O • Po pula tio n shifts to o ute r sub urb s a nd e xurb a n • 1980s – Big ho me s o n sma ll lo ts • 1990s – Big g e r ho me s o n la rg e r lo ts with b ig g e r • ma ste r suite s Zo ning re q uire s minimum flo o r a re a – • re stric ts/ pro hib its a pa rtme nts Pric e y ne w c o nstruc tio n c a te rs to mo ve up ho using • (me dia n listing pric e o f ho me s b uilt in 2010 is >2x ho me s b uilt in the 1900s, 1910s, a nd 1940s)

I mpa c t o f 2008 Cra sh Na tio na lly & NE O • Big g e st disruptio n to ho using ma rke t sinc e g re a t de pre ssio n • Ho using ma rke ts with la rg e r spike s in fo re c lo sure s ha d hig he r jump in re nte r ho use ho lds • Olde r mille nnia ls (26-34) b uying a t slo we r ra te tha n c o unte rpa rts 10 ye a rs a g o • Wo me n re nt a t a hig he r ra te tha n ma le s • We a lthy ho use ho lds – ste e pe st de c line in ho me o wne rship (do wn to 80%), b ut hig he r tha n me dia n (~59%) • Re nta l ra te s up 22.3% vs. inc o me do wn 5.8%

De mo g ra phic T re nds F e we r F a milie s with Childre n • 20% o f Ho use ho lds a re fa milie s with c hildre n (o nc e wa s the do mina te ho use ho ld type ) • Wo me n ha ving fe we r c hildre n, a nd la te r in life • F e rtility ra te s re a c hing re c o rd lo ws • Smalle r familie s ne e d fe we r be dr ooms

De mo g ra phic T re nds Mille nnia ls a nd Bo o me rs Do mina te L iving T re nds • 79.8 Millio n Mille nnia ls a re U.S.A.’ s • 34% o f Ho me b uye rs we re Mille nnia ls la rg e st living g e ne ra tio n (2017) • Ag e s 18-35 66% a r e e xpe c te d to buy home s in • the ne xt five ye a r s. • In 2014, fo r the first time in mo re tha n 130 ye a rs, yo ung a dults we re • L o o king fo r ne wly c o nstruc te d mor e like ly to be living in the ir e ntry-le ve l ho me s, ye t a ve ra g e e nts’ home tha n in a ny o the r ho me va lue is “fa r to o e xpe nsive ” pa r living a rra ng e me nt. fo r ma ny o f to da y’ s mille nnia ls. • T he mille nnia l po pula tio n is • Ide a l lo c a tio n: Mille nnia ls wa nt a e xpe c te d to c o ntinue g ro wing a s a ho me c lo se to wo rk so the y do n’ t re sult o f immig ra tio n. ha ve to wa ste mo ne y o n g a s. L ike ly to wa lk/ b ike to wo rk.

De mo g ra phic T re nds Mille nnia ls a nd Bo o me rs Do mina te L iving T re nds • 74.1 Millio n Bo o me rs a re the U.S.’ s Se c o nd Big g e st Ge ne ra tio n • Ag e s 52-70 • T he mo st influe ntia l g e ne ra tio n o f o ur time will b e re tiring o ve r the ne xt 15 ye a rs. • As the y b e c o me e mpty ne ste rs, Bo o me rs a re re lo c a ting a nd ofte n ar e looking for fir st floor maste r living within the ir own c ommunitie s.

De mo g ra phic T re nds Multig e ne ra tio na l L iving • 64 millio n Ame ric a n live s in inte rg e ne ra tio na l ho use ho lds • 1 in 5 Ame ric a ns • Ho use ho lds with a t le a st 2 a dult g e ne ra tio ns o r g ra ndpa re nts a nd g ra ndc hildre n yo ung e r tha n 25. • Gro wing ra c ia l a nd e thnic dive rsity in the U.S., a nd hig h c o st o f se nio r ho using he lps e xpla in so me o f the rise in multig e ne ra tio na l living .

Pro file o f 60+ Po pula tio n, 2000; 2010, L AK E COUNT Y So urc e : “L a ke Co unty, Ohio Se nio r Citize ns: T o da y, T o mo rro w a nd in the F uture ” Re po rt 2015

U.S. Ce nsus 2010, 60+ a s Pe rc e nt o f Po pula tio n o f L a ke Co unty Jurisdic tio ns So urc e : “L a ke Co unty, Ohio Se nio r Citize ns: T o da y, T o mo rro w a nd in the F uture ” Re po rt 2015

So urc e : “L a ke Co unty, Ohio Se nio r Citize ns: T o da y, T o mo rro w a nd in the F uture ” Re po rt 2015

Pro je c te d Cha ng e in 60+ Po pula tio n b y L a ke Co unty Jurisdic tio ns, 2010 to 2030 So urc e : “L a ke Co unty, Ohio Se nio r Citize ns: T o da y, T o mo rro w a nd in the F uture ” Re po rt 2015

Ho using Units, Ye a r Co nstruc te d C o nc o rd T o wnship Built 1939 or e ar lie r 2% Built 2010 or late r 6% Built 1940 to 1970 16% # o f Pe rc e nt Units o f T o ta l Built 2000 to 2009 Built 2010 o r la te r 442 6% 18% Built 2000 to 2009 1,356 18% Built 1980 to 1999 2,973 39% Built 1970 to 1979 1,451 19% Built 1970 to 1979 Built 1940 to 1970 1182 16% 19% Built 1939 o r e a rlie r 148 2% T o ta l Ho using Units 7,552 100% Built 1980 to 1999 39% 2014-2018 ACS E stima te s

E xisting Ho using Units Co nc o rd T o wnship % of % of % of 2000 2010 2020* T otal T otal T otal Housing 1-unit, de ta c he d 4,450 75.5% 5,838 80.6% 6,427 82.0% 1-unit a tta c he d 964 16.4% 958 13.2% 958 12.2% 2-4 units 143 2.4% 132 1.8% 132 1.7% 5+ units 337 5.7% 317 4.4% 317 4.0% Mo b ile ho me 2 0.0% 0 0.0% 0 0.0% T o ta l units 5,896 7,245 7,834 2020 E stima te b a se d o n 589 ne w de ta c he d sing le fa mily ho use s b uilt b e twe e n 2010 a nd 2019.

Co nc o rd Ho using Sto c k b y Numb e r o f Be dro o ms So urc e : U.S. Ce nsus Bure a u, 2014-2018, ACS E stima te s

Co nc o rd Ho use ho lds b y the Numb e rs So urc e : U.S. Ce nsus Bure a u, 2014-2018, ACS E stima te s

Co nc o rd T o wnship, Ho use ho lds, 2018 E stima te s • Ave ra g e ho use ho ld size is 2.49, a nd ha s b e e n de c lining sinc e 1980 whe re it wa s 3.4 • 29% o f ho use ho lds ha ve c hildre n unde r 18 ye a rs o ld • 49% o f ho use ho lds ha ve o ne o r mo re pe o ple 60 ye a rs a nd o ve r • 24.6% o f ho use ho lde rs live a lo ne • E stima te d Me dia n Ag e 47.3 in 2018 (Up fro m 41.4 in 2000)

2020's T o p Ho me T re nds Na tio na l • Sing le F a mily Ho me s still the mo st "Builde rs re spond to de ma nd out po pula r b e ing b uilt de spite the the re in the ma rke t, a nd the a ffo rda b ility issue de ma nd rig ht now is mostly from e ntry- le ve l buye rs a nd first- time • F o llo we d b y to wnho me s, c o ndo s buye rs," sa ys Quint. "T he y're a nd c o -o ps, a nd ma nufa c ture d re sponding to the a fforda bility ho me s. c risis by shifting the ir produc t to • Ho me s a re g e tting sma lle r (Ave . sma lle r, more a fforda ble home s." 2,520 SF ) • F irst time b uye rs mo re like ly to purc ha se e xisting ho me , ve rsus re pe a t b uye rs purc ha se ne w. So urc e : 2020’ s T o p Ho me T re nds, Re a lto r.c o m, Ja n. 23, 2020