West End Housing Study Update March 2019 Displacement Risk Analysis of Ownership Units and Market Rental Units Key Takeaways Qe" The Displacement Risk Analysis is a snapshot in time; itis based on 2017 U.S. Census data and Cincinnati Metropolitan Housing Authority data as of 2018. ‘@ Subsidized Renters are not included in the displacement risk analysis due to their protected status. Households included in the displacement risk analysis are Homeowners and Market Renters. @ If no housing plan or program is implemented, potential displacement increases significantly with the expiration of subsidized units. The expiration of subsidies could displace an additional 1,454 households. 472 3068 Potential —_ Displacement = cnn Occupied Homeown ee Potential Dis; nt 1490 | am Diplsnre Renters 1,205 Households (34%) /402 Households oY + 286 rentor hs ao 236 Households I DV ei ™) (1%) Whe? Who? t Renters on Fixed Renters with incomes of tomes T S2ticass, A Homeowners with incomes ey FF 2818000 to 850,150 0 year furs wthncmerine | Ay nas once & cakes eres 518,000 o year ‘Why? Why? Why? * Being sick/laid off impacts ability | + Pressure on budget (Car Pressure on budget (Cor to poy rent. repairs /heating costs). repairs /heating costs). + Sudden car repairs increases in + Sudden major home repairs due Repeated home repairs due bills impacts ability to pay for 10 older homes or catastrophic 40 older homes. housing ‘emergency repair. Unexpected property tax + Households already pay over 30% | + Unexpected property tax increases. of income on housing expenses. TE PORT Matra Real Estat WorkWest End Housing Study Update March 2019 Housing Analysi The Housing Analysis uses 2017 U.S. Census data to 4435 breakdown only residential (housing) units in the West End. ‘According to the Census, 3,539 (80%) of the total 4,435 Housing Uni Z fousing Unite housing units in the West End were occupied; 8% (20%) units ‘were vacant. These vacant units are in varying levels of 3539 ° °BQG_ condition those in moderate condition could be candidates for renovation. Cecupied Units Vacant Units According to the Census, most of the occupied housing units, a 7% ‘were Renter Occupied (87%) while 472 (18%) housing units 472 3068 were Owner Occupied. There is a need for additional rental Owner Units in the West End for households with annual incomes loss than $18,000 and rents less than $470/month. There is also a 7 need for price-oppropriate rental and homeownership units at 1454 *” 53% higher price points for households with annual incomes Pad me greater than 100% of Area Median Income. Rental Rental Uni Unite Yel Units Almost half (454) of the total housing units receive some type of housing subsidy. These rental subsidized units are. largely protected from future increases in market pressure and SS teens sceoestere se ea tesansalanam escalating rents. Renter Cecupied Occupied A parcel level windshield Sees survey was conducted in the a Winter of 2018 to ascertain ‘existing building conditions for each parcel in the West End. Building conditions ore based on exterior ‘assessments only; a similar Rehabinoron score may not be applied to nde en. the interior of these buildings. Key Takeaways: Soo seeeea ee oe + The West End building stock is generally in good condition on the exterior. + There is very litle blight observed in the West End, with ‘the majority of concentrated north of West Liberty Street. + The number of vacant lots represents opportunities to bring online new affordable or price-appropriate housing ments. THE PORT Q Make Rea Estat Work fer SELES