Res-2018-177 Distressed Sales and Use Tax Cle Elum

Home Browse Search

Housing Element between 1990 and 2000. This increase in elderly persons may result in the demand for more nursing care facilities. Other persons living in group quarters include individuals with developmental disabiJities. As these individuals age, it is likely that some of them will require assisted living or nursing care facilities. (Kittitas ColDlty Mental Health.fDevelopmental Disability Board) Value and Cost of Hous ing Sale prices of homes are an indicator of the value of homes available in the community. The average saJe price for homes in the Lower Kittitas County area in 2006 was $250,573 .. Cunently, the average price of single>family homes available for sale is $264,502 (figures based on infonnation provided by a local real estate broker from data taken from the Northwest Multiple Listing Service). This increase in home purchase prices has made home ownership beyond the affordability of many potential homebuycrs. Using the Washington Center for Real Estate Research's formula for calculating the number of first-time homebuyers in Kittitas County who can afford to purchase the median priced resale home, 43.2% of these potential purchasers can afford the median priced home. In Kittitas County, the current "ceiling" for FHA loans is at $144,336.00. There are few homes available for sale, which qualify for the federal hotne purchase programs. Data from the U.S. Census in 1990 indicated a median rent of $265 for the cotmty. The 2006 census data currently reflects a median rent of $497, which represents a 66% increase from the 1990 median rent. According to the census there were 5,408 renter households in Kittitas County. In October of 2005, the Kittitas County Conference of Governments (COG) adopted the high population projection provided by the Washington State Office of Financial Management (OFM) for the planning period of 2005-202S. This provided for a population projection for the entire county of 52,180 people in the year 2025. The County-Wide Planning Policies have set population allocations for local jurisdictions. The total 20-year allocation for Kittitas County is at 15,0S2. According to the 1990 Census, there was an average of 2.33 people per household. This figure was for the entire county and represented all single-family units. The following equation can be used to determine the number of future housing units that may be needed. • Projected Population Incre~ Average # of persons per household = Total # of dwelling units needed ---15,052 / 2.33 = 6,460 • Total # of dwelling units needed -Existing vacant writs• = # of additional units needed -6,460 -0 = 6,460 •The number of vacant units is assumed to be 0. By using th.is equation with the 2000 Census average nwnber of people per households and the County-Wide Planning Policies 20-year popu)ation allocation for the county, the total number of additional units needed between 2005 to 2025 is 6,460. Kittitas County Comprehensive Plan 3.3 December 2D16