This report outlines housing affordability solutions for Whatcom residents
Whatcom County residents are considered particularly housing-cost-burdened compared to residents of other Washington counties, according to a new report detailing the scale of the state’s affordable housing crisis that includes recommendations for addressing the issue.
“The Conspicuous Crisis” report was published by Challenge Seattle, a group of CEOs from 21 of the region’s largest employers, in collaboration with the Boston Consulting Group, as a follow-up to a report published in 2019 addressing the same issues specifically in King County.
The new report out Thursday, Jan. 5, includes specifics about housing affordability in each of Washington’s counties, using data from the recently released 2020 American Community Survey by the U.S. Census Bureau.
About 36% of Whatcom County’s housing units occupied by both renters and owners see monthly housing costs that are 30% or more of their household income, according to 2020 Census data.
Households are considered cost-burdened when more than 30% of their income is spent on housing-related costs. The same data shows that nearly one million Washington households, or more than 30% of residents, fall into that category.
“The Conspicuous Crisis” report highlights several Washington cities’ housing policies and their impacts. Bellingham is noted for encouraging the development of urban villages that facilitate living and working in the same area. The city is also noted for offering incentives for developers who meet specific affordability or amenity improvement goals.
The report also outlines many long-term and near-term recommendations as solutions for creating housing affordability across Washington state.
Long-term recommendations:
▪ Start with zoning reform.
Up-zoning areas for mixed-use or multi-family that are currently zoned for single-family increases the opportunity for new units and higher-density housing, according to the report.
▪ Approve more developments.
▪ Use land effectively.
Acquiring publicly-owned property for affordable housing development and building housing on underutilized government property could contribute to solving the affordability crisis, the report states.
▪ Decrease development costs.
▪ Provide and enable below-market financing.
Affordable housing development could be encouraged by incentivizing private companies to help finance and build, according to the report.
Near-term recommendations:
▪ Shorten development timelines.
This could be achieved by streamlining and accelerating the local permitting process, the report states.
▪ Preserve current affordable housing.
▪ Subsidize housing costs.
Creating and funding down payment assistance programs for first-generation or first-time home buyers and providing state-level funding to homeowners helps support existing Washington households, according to the report.
This story was originally published January 9, 2023 at 5:00 AM.
