3. What we are seeing…
• Increased housing demand
• Production not keeping pace
What we need…
Affordability for emerging workforce,
small families, single income
households, divorcees and retirees.
7. 2013 Housing Report Card Database
Special thanks to Barry B and his team at the Dukakis Center for Urban and Public Policy
8. 100%
50%
0%
Housing
Child Care
Food College
Health
Care
2005 – 2011 cost of living going up
Percent change from 2005 - 2011 Greater Boston Housing Report Card 2013
* SNEAPA data, percent change from 2000 - 2011
+ 14%
$
+ 16%
$
+ 28%
$
$
+ 168%
$
$
$
$
$
$
$
$
$
$
$
$
+ 66%*
$
$
9. $1500
$ 1000
$ 500
1990
2000
2010
1990 – 2010 Nominal rents going up
1990 – 2010
Data from Greater Boston Housing Report Card 2013
Up 80%
$642
/month
$786
/month
$1160
/month
10. 2009 – 2013 Home prices going up
Single
Famil
y
Home
+4 %
+4%
Condominium
Annual Median Prices for Greater Boston Metropolitan Area
p.41 Greater Boston Housing Report Card 2013
+ 46%
Double &
Triple
Deckers
50%
25%
0%
11. +15%
0%
-15%
2000 – 2011 Incomes stagnating/declining
Home
Owner
Income
+ .9%
-13.1%
Renter Income
2000 – 2011 Median Income Greater Boston Metropolitan Area
p.20 Greater Boston Housing Report Card 2013
12. Housing Cost Burden
Over 25% are paying more than
50% of their income on rent
1990 – 2010
p.20 Greater Boston Housing Report Card 2013
13. Greater Boston Demographics:
1 in 3 are between 20 and 34 years old
1990 – 2010
p.20 Greater Boston Housing Report Card 2013
20-34 yrs
33%
14. Over 40% are over 45 years old
45-64 yrs
27%
+27% in 10 years
65+ yrs
13%
2011 Data
p. 20 Greater Boston Housing Report Card 2013
We need
buildings with
elevators...
15. Nearly 40 % are single person households
2011
p.20 Greater Boston Housing Report Card 2013
Do I want
roommates?
Not really...
16. More small households, fewer children
16.9%
Single living
with others
37%
Live alone
25.3%
Families with
no children
under 18
23.2%
Families with
children under 18
2011 Data
p. 20 Greater Boston Housing Report Card 2013
Over 75% don’t
live with children
18. City of Boston 272,000 units
* 2007-2011 American Community Survey,
Greater Boston 5 county data
1 Bed
25.8%
2 Bed
34.2%
3 Bed
22.5%
4+ Bed
10.8%
Studio
6.7%
More than
2/3 are
larger units
Figure 10: Share of Housing Units by
Number of Bedrooms 2008-2012
Source: American FactFinder – 2008–2012
American Community Survey
19. Greater Boston – 1.4 million units
3 Bed
33.6%
4+ Bed
22.9%
Studios are
only 2.1%!
* 2007-2011 American Community Survey,
Greater Boston 5 county data
More than
80% are 2
Beds or
above
20. City of Newton – 32,344 units
3 Bed+
65%
2Bed
23%
Studios are
only 1%!
* 2008 -2012 American Community Survey,
Newton data
More than
87% are 2
beds or
above
1 Bed
11%
21. Newton 2030 : Change by age
Seniors
increase
every
decade
* MAPC Projection Data
22. Newton 2030 : Change by household size
* MAPC Projection Data
23. seniors
widows
We need smaller units for
moderate income groups!
divorcees
inno
workforce
service workers
creatives
grads
undergrads
Resulting in a pressing shortage
24. Effects of small unit shortage
Students & emerging
professionals
2x rent
I’d like
to live
alone
* 50% undergrads and 80% graduate students live
in market-rate housing, data from Dukakis
Family
Priced
out
26. Price wars
2x rent
Baby boomers
Lots of college debt
Leaving
suburbs
for city
Millennials &
couples
priced out
27. Increase the inventory of small units
within the City of Boston
* 2007-2011 American Community Survey,
Greater Boston 5 county data
1 Bed
25.8%
2 Bed
34.2%
3 Bed
22.5%
4+ Bed
10.8%
Studio
6.7%
Adding
30,000
studios is
only 10%
29. Below the minimum
500 s.f.
750 s.f.
900 s.f.
BOSTON
UNIT SIZE
Studio
1-BR
2-BR
‘METRO
UNIT’
450 s.f.
625 s.f.
850 s.f.
Rent at $4 per sf
per month
$ 2000
$ 3000
$ 3600
Micro 300 s.f. $
1200
$2000/mo is 60% of
a person’s income
making $50,000/
year
47. Multi-family master plan zones near
transit
1. Density incentives for smaller units
2. Expedited permitting for more low & middle income
units (deed-restricted)
3. Reduced parking ratios
4. Reduced infrastructure improvements (open space,
traffic mitigation, stormwater, etc.)