Affordable Housing Review

George PenfoldRegional Innovation Chair

Selkirk College

Nakusp Development Board, Nakusp B.C. March 12, 2009

Background on housing industry

Background on population

Background on housing stock.

Census based needs assessment

Roles in responding to needs?

Presentation Theme

$78.6 M (72% of total) in Residential Building Permits RDCK, 2007, $102.5 M in 2008

54% of Residential Permit Value in rural RDCK in 2007, 57% in 2008

Annual house maintenance - Estimate @ 1% = $63.5 M annually

Housing and the Regional Economy

Kootenay Development Region 1997 2007 2008

Total employed, all industries ('000) 65.3 77.1 71.5

Construction 3.6 9.2 8.0Finance, insurance, real estate, leasing 3.0 3.2 2.3Business, building, support services 1.6 2.4 1.6Manufacturing 7.6 8.4 4.6Forestry, fishing, mining, oil and gas 4.1 5.4 6.9

Housing and the Regional Economy

RDCK (2008) Assessed Developed Residential Property Value - $6.35 B ($113,400 per person)

Largest “equity” pool for many households

Big contributor to basic quality of life, comfort and to “status” for many

Housing and the Personal Economy

“Boomer” generation retiring. Creates housing demand for retired, semi retired and “amenity migrants”

West Kootenay Labour Force projected needs - 7,100 new and replacement workers 2006 to 2011

Competing demands generate increasing prices if supply is not adequate

Relationship to Economic Change

Homeowners contribute to affordable inventory by “up scaling,” “home makeovers”

Average RDCK dwelling value escalated more (62%) than average household income (14%), rental rates (8.35%) and minimum wage (0%) - 2001 to 2006

Relationship to Economic Change

Housing and Labour Markets

Census 2006 In Commute Out Commute Live/Work

Nakusp 280 460

New Denver 100 20 100

Silverton 25 25

RDCK E.A. K 235 65

RDCK E.A. H 290 945 205

Total 695 1,225 830

Arrow Lakes LHA Population 2006 - 2011

1996 2001 2006 2011 2016 20214,200

4,400

4,600

4,800

5,000

5,200

5,400

Total Population

Population Components 2006, 2016

0-17

18-24

25-64

65+

0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%

20162006

% of Total Population

Dwellings 2006 Census

Arrow Lakes RDCK BC0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

MobileApartmentMulti FamilyDetached Dwelling

Assessment Summary

Agr

Com

m

Hot

/Res

M-H

Man

uM

-FRes

t

Rec/C

ulSF

D

SFD-V Sk

i

S-Co

ndo

TCU

Acrea

ge-V

Acrea

ge-D

207 237 45

257 201 17 94

1,337 1,411

2,078

1 31

517

2,542

815

Distribution of Property Titles by Type, Nakusp/Slocan/Silverton, 2008

Total Number of Property Titles: 9,790

Assessment Summary

N/S/S N/K S/C CG ML/SW RoBC ALTA RoC PGMA Other

3,278

103 6 33

774 620 490

66

4,237

183

Number of Property Titles by Location of Owner, Nakusp/Slocan/Silverton, 2008

Non- Regional Owners 2008 – 38.4%Non- Regional Owners 2001 – 37.5%

Rental Households

Arrow Lakes RDCK BC0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

Rental Households 2001 (%)Rental Households 2006 (%)

Area

Couples With

Children

Couple No

ChildrenOne

person Other

Lone parent families (part of other)

Total Households

Slocan Arrow Lakes 795 1,435 1,250 475 395 3,955

Nakusp 155 240 210 75 45 680

E.A. K 155 360 220 85 75 820Total Nakusp, E.A. K 310 600 430 160 120 1500

Household Types

Location(2006 Census)

Avg. Dwelling Value 2006

Avg. Household Income 2005

Avg. Dwelling Value 2006/Avg.

Household Income 2005

Arrow Lakes/Slocan $227,480 $44,804 5.1

Nelson Area $287,321 $54,250 5.3

RDCK $240,339 $51,574 4.7

BC $418,703 $67,675 6.2

Where do we stand Provincially?

Where do we stand on affordability ?(30% or more of household income on housing)

Location (2006 Census)

% Total HouseholdsSpending 30% or more

Proportion Rental

Slocan, Arrow Lakes 24.4% 33.9%

Nakusp 21.5% 42.3%

RDCK E.A. K 10.8% 28.6%

Nelson 27.9% 46.9%

RDCK 23.8% 41.5%

BC 28.4% 45.5%

Who has Affordability Problems? (30% or more of household income on housing - 2006)

Couple Family Without children

Couple Family With children

Lone-parent family

householdsOther family households

One person households Non-Family

RDCK E.A. K 30 10 20 10 15

Nakusp 20 10 25 25 70Total 50 20 45 35 85

Total Type 600 310 120 160 430% Type 8.3% 6.5% 37.5% 21.8% 19.8%

Total Income(Tax filer 2005) Total

MedianIncome

AverageIncome

Couple economic families 13,945 $57,197 $66,043

Male lone-parent economic families 480 $48,918 $50,667

Female lone-parent economic families 1,775 $27,918 $34,581

Males 15 years and over not in economic families 4,790 $23,143 $30,125

Females 15 years and over not in economic families 4,625 $18,744 $23,775

Family Incomes RDCK

Following are possible categories of housing need:

• basic shelter (emergency, homeless)• shelter/care• subsidized rental housing• market rental housing• non-market housing• market housing

Roles

Different partners and roles depending on what housing is being considered: Local and/or Regional Government Provincial and Federal Government (BC

Housing, CMHC) Local and/or Regional NGO’s, CBT Private Sector

Basic Question: who will invest in, and manage affordable housing development?

Roles