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4 <br /> Board of Selectmen <br /> Minutes <br /> March 4, 2019 <br /> AFFORDABLE HOUSING PRESENTATIONS: <br /> Cape Cod Commission: Executive Director Kris1y Senatori• Community Design/Affordable Housing <br /> Specialist Heather Harper: (continued) <br /> Cape-wide economic indicators from 2000-2016 reflect a population decrease of-4% and a 10% increase in <br /> employers, a 9% increase in jobs, and an average wage increase of 7%. <br /> In accordance with the Barnstable County Housing Market Analysis 26,000 households on Cape Cod are <br /> cost burdened, spending more than 30% of their income on housing. <br /> On Cape Cod, 82% of the homes are single family. In the Town of Mashpee 77% of homes are single family <br /> homes. In comparison, the State of Massachusetts has 52%, and in the U.S. region the makeup consists of <br /> 62% of single family homes. It is projected that household size would decrease on Cape Cod to 2.25 persons <br /> within the next 10 years. The projection for Mashpee is 2.24 and for the state it is 2.60 persons per <br /> household. <br /> In terms of housing stock, it is estimated the Town of Mashpee on average has 36% seasonal homes. <br /> Barriers impacting the economy include the limited selection of housing stock and high costs for entry to <br /> lower wage workers and occupations. Housing options and short-term rentals are not equal to residential <br /> opportunities elsewhere, and with limited wages and transportation options there is an inadequacy in seasonal <br /> workforce availability. <br /> With the use of 2015 data and average hourly and annual wages for the top employment sector on Cape Cod, <br /> to own a median level home at a cost of$335,000 an earner would be required to make $80,000 per year. To <br /> rent a home at$1,100 per month a wage earner would be required to earn $44,000 per year. <br /> With regards to transportation, it was suggested the train schedule improve to offset costs to the Cape <br /> workforce. In response to this recommendation, it was agreed there is a need for more sustainable <br /> transportation and an increase in the train service would most likely be supported with the workforce or <br /> residential demand. <br />