PHARVA.com Richmond Regional Housing Framework Increasing access to housing through policy and partnerships
RRHF Footprint Hanover Ashland Henrico Richmond Chesterfield 2
Changing Demographics Increase in senior population since 2010 49% 36% 32% 26% 17% Richmond city Henrico County Region Hanover County Chesterfield County Source: 2008-2012 and 2013-2017 American 3 Community Survey, 5-year estimates
RRHF Values 4
Why Housing? "The reason is simple: without stable shelter, everything else falls apart." - Matthew Desmond, Evicted 5
The Region’s Growth Isn’t Stopping Anytime Soon. The time to plan for our future is now. 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1950 1960 1970 1980 1990 2000 2010 Hanover County Henrico County Chesterfield County Richmond city Source: University of Virginia Weldon 6 Cooper Center for Public Service
Percent of Cost-Burdened Households Source: 2013-2017 American Community Survey, 7 5-year estimates (Tables B25074 and B25095)
The Rental Market "People need to understand...that $30,000 is not enough to live...There is a big income gap, you either have or you don't have.” - Hanover County Resident 8
Rents Are Outpacing Household Incomes Cumulative percent change in median gross rent and median Median gross rent household income 25% Median household income 20% Chesterfield 15% Hanover 10% Henrico Richmond 5% Source: 2005-2009 through 2013-2017 0% American Community Survey, 5-year estimates (Tables B19013 and B25064) -5% 2009 2010 2011 2012 2013 2014 2015 2016 2017 9
The Homeownership Market "I've seen my property values go up 492% over two years... there are going to be bigger challenges in the future." - City of Richmond Resident 10
New Construction Change in Median Single-Family Home Sales Price: 2009 to 2018 11 Central Virginia Regional MLS
Senior Population "Some seniors want to live in an apartment. I don't want to maintain a home anymore, I can't." - Town of Ashland Resident The region will need to add 5 new senior households every day for the next 20 years. Source: 2013-2017 American 12 Community Survey, 5-year estimates
Housing Cost Burdened Seniors The number of mortgage-burdened seniors has more than doubled since 2000. 18,000 16,237 16,000 14,000 11,293 12,000 10,000 7,846 8,000 6,940 6,000 4,000 2,000 - 2000 2017 Mortgage burdened Rent burdened 2000 Census; 2013-2017 American 13 Community Survey, 5-year estimates
Cost-burdened Seniors Living Alone Age 65-74 10,424 Seniors Age 75+ 9,720 Seniors Source: 2013-2017 American Community Survey, 5-year estimates 14
Multi-Generational Living Seniors living with families and not the primary householder 2019 2012 Source: 2013-2017 American Community Survey, 15 5-year estimates
Housing Quality "My refrigerator was broken and they used tape...There's water leaking behind the walls in the bathroom and they won't fix it." - Henrico County Resident 16
Housing Quality Prevalence of homes built before 1970 45,000 40,034 39,835 39,199 40,000 35,000 30,000 25,000 18,760 20,000 15,000 10,000 5,000 0 Built 1939 or earlier Built 1940 to 1949 Built 1950 to 1959 Built 1960 to 1969 Source: 2014-2018 American Community Survey, 17 5-year estimates
Where do we go from here? Priority Solutions Criteria • Community Input • Lower income impact • Scope of need • Racial equity • Critical time frame • Level of effort/cost • Regional applicability • Legislative/regulatory change 18
Rental Housing Goal #1 Solution 1-A Solution 1-B Increase the Increase the Extend supply of rental amount of land affordability terms housing in the available for for assisted rental region for low- multifamily housing developments income development. with expiring households subsidies by incentivizing preservation. 19
Homeownership Goal #2 Solution 2-B Solution 2-H Support racially Create a regional Support and inclusive wealth center for expand the creation by homeownership regional land increasing that is a one-stop bank to create homeownership resource hub. more options for opportunities for housing low and development. moderate- income households 20
Seniors Goal #3 Solution 3-B Solution 3-F Ensure that our Increase housing Streamline growing senior rehab, home programs for population is accessibility and seniors that safely and critical home enable them to affordably repair assistance better navigate housed. programs. and access housing programs. 21
Housing Quality Goal #4 Solution 4-A Solution 4-F Improve housing Revitalize Expand the quality and manufactured Green & Healthy ensure better home Homes Initiative health and safety communities and while deepening for residents replace poor engagement with quality homes. the healthcare industry. 22
Stability Goal #5 Solution 5-E Solution 5-F Expand housing Pilot a “Stay-in- Provide tax relief stability and stop Home” program for long time displacement. for low-income residents as a senior strategy to homeowners prevent struggling to meet displacement. their housing costs. 23
Opportunity and Choice Goal #6 Solution 6-E Solution 6-F Expand housing Encourage mixed- Forge choices for income housing in partnerships with moderate and high opportunity anchor institutions low income areas. to address households. housing challenges. 24
PHARVA.com Resources for Solutions 25
What’s Next? Explore the full Framework at PHARVA.com Full solutions • Interactive data • charts Glossary of terms • 26
PHARVA.com Framework Vision Everyone in the Richmond region will have a stable, healthy, and affordable place to call home. 27
Thank You Jovan Burton 804.422.5057 info@PHARVA.com PHARVA.com
Recommend
More recommend
