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Housing <br /> AlfordablSry GaP <br /> Barnstable County Peak Cumulative Gap by Town <br /> lmtruedons 201a 20 5 choose owneror Remef <br /> SeiKt L—M beta«to filter U oA4#i <br /> d3[a,or Use the panel m the Rcrtc-r <br /> fight lochoase 240 cm—year <br /> year,and 54bfC416nIs). OIAYI <br /> Hold CTRL(or mulllp:c t—; Q 2ats <br /> fKIICkto fetet view. IM -6 <br /> Ctrooso Yout Subfeglon(s) <br /> Q(Av) <br /> n UP:r CaM <br /> li':o <br /> Ctwo.o Your 7—.(s1 <br /> tiiA (Aul <br /> r1 Ea'nr'rh <br /> Si-Crt=:<h <br /> 12�4 <br /> A <br /> 1(ia <br /> fCQ <br /> GCO <br /> Total Affordability Gap by <br /> Income level - <br /> 2015 2025 2ca e0eklneafdaw <br /> solaw to rto <br /> Resot. <br /> 50l MI{I 950 1,093 Saurte'.EPR2017 <br /> e0%MHI t,t 49 t,809 0 _ <br /> 100%MHI 637 2,201 Y - <br /> 120%MHI 287 2,395 _ <br /> ,i+ubleou <br /> What's Affordable? <br /> The affordability gap Is an indication of housing stress.It represents the number of existing households spending <br /> 30%or more of monthly income on housing,and are therefore expected to be home cost burdened. <br /> From the 2015 baseline year,the study shows the greatest housing stress is felt by those earning 80%or less than <br /> Barnstable County's median Income.In 10 years,the effect on the lower end of earners Increases and deserves <br /> continued attention.More striking,however,is how housing stress climbs through higher Bars of income.By 2025, <br /> the greatest Increase In burdened households are with those earning 100%to 120%of the projected median <br /> income. <br /> 5 Peak cumulative gap by town (Mashpee Owners) <br /> • Peak problem, meaning number of households where problem exists, has moved up the <br /> income scale in 2025 to the 120% median household income group. In the 2025 <br /> projection, 2,400 households have a problem and that is the largest group. <br /> • In 2015 the biggest problem was in the 80% median household income group. <br /> • Ms. Baker pointed out the low threshold for affordable housing and the median 120% <br /> group that will be affected, most of these people who aren't 120% median income as <br /> they make too much money to barely qualify for low income, where is the committee <br /> to help them? The 80%, 100%, 120% do not qualify for WIC, fuel assistance, <br /> childcare vouchers, etc. so they move. They cannot contribute because the <br /> community is living at a means they can no longer afford. They will then contribute to <br /> the new community. <br /> • Developers know how to get funding and there are resources available, far less <br /> than the need, in the above 80% group. Market value has a lot to do with how <br /> much it costs to build a house. When you are building affordable housing, there <br /> is not much cost difference from regular housing. Financing advantages and <br /> grants are available as well as rental subsidies to pay for housing. <br /> 11 <br />