city of chelsea housing needs analysis & strategic plan
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CITY OF CHELSEAHousing Needs Analysis & Strategic Plan
March 21, 2017
• Project Overview• Status Report• Housing Needs Assessment• Goals & Priorities
Housing study for Chelsea: why?
Chelsea Housing Needs Analysis & Strategic Plan
• Chelsea is growing!• About 1,000 new housing units since 2010• By 2015, City had already absorbed 72% of
MAPC projected demand for 2010-2020• Skyrocketing housing sale prices & rents• Impact of regional housing pressures on
Chelsea• Competing needs• Competing priorities
3/21/2017
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Chelsea is not alone
Chelsea Housing Needs Analysis & Strategic Plan3/21/2017
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Chelsea
Lynn
Winthrop
East Boston
Boston
Revere
Everett
Saugus
Melrose
Malden
Medford
Somerville
Cambridge
“Home shoppers in Boston-area communities especially should prepare for yet another year of slim pickings, overcrowded open houses, and bidding wars, real estate brokers say.”Boston GlobeJanuary 24, 2017
Housing plan components• Needs assessment• Affordability analysis• Supply/demand analysis• Vision & goals
• Housing types• Range of affordability• Fair housing
• Strategies for reaching goals & achieving vision
• Roles/responsibilities of Housing Trust
Chelsea Housing Needs Analysis & Strategic Plan3/21/2017
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What kind of goals?• Goals should be …
• Specific• Measurable• Achievable• Relevant• Time-based
Chelsea Housing Needs Analysis & Strategic Plan3/21/2017
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Strategic plan (end product)
Situation/
ProblemResources Activities
Outputs Outcomes IMPACT
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Rents by the numbers
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$1,619 $1,520$1,704
$1,943$2,183 $2,153 $2,223
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
2010-12 2011-12 2012-12 2013-12 2014-12 2015-12 2016-12
Market Rents in Chelsea and Cities Nearby2010-2016
(Source: Zillow, 2017)
CHELSEA Boston Somerville Cambridge Everett Revere
Sale prices by the numbers
3/21/2017 Chelsea Housing Needs Analysis & Strategic Plan
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$188,000 $180,800 $177,400 $205,000 $224,800 $244,600 $272,600
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
2010 2011 2012 2013 2014 2015 2016
Condo Sale Prices in Chelsea & Cities Nearby2010-2016
(Zillow, 2016)
CHELSEA Boston Somerville Cambridge Everett Revere
Chelsea Condo Sale Prices
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$136,800
$254,300
$177,400
$272,600
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
A longer-term look
Population by the numbers
Total population (Est.) 37,581 100%
Children under 18 9,768 26%
Seniors 65 and over 3,388 9%
Racial minorities 18,194 48%
Latino population 24,130 64%
Born abroad 16,550 44%
Residents with jobs* 18,212
Residents with Local Jobs 4,370 24%*Residents 16 years and over.Source: Census Bureau, ACS Five-Year Estimates 2011-2015.
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Households by the numbers
Total households: 12,290 100.0%
Renters 8,856 72.1%
Homeowners 3,434 27.9%
Families 7,838 63.8%
Families with children under 18 4,944 40.2%
Senior households 2,035 16.6%
Newcomers (recent move-ins) 2,186 5.9%Source: Census Bureau, ACS Five-Year Estimates 2011-2015.
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Housing by the numbers
Total housing units 12,940 100%
Median year built, all units Pre-1939
Multifamily units 11,825 91%
Single-family homes 1,092 8%
Median value, owner-occupied unit $274,100What households typically spend each month to own or rent their home or apartment $1,269Source: Census Bureau, ACS Five-Year Estimates 2011-2015.
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Defining terms
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Number of People in the Household
1 2 3 4 5 6
Extremely Low Income $20,650 $23,600 $26,550 $29,450 $31,850 $34,200
Low Income $34,350 $39,250 $44,150 $49,050 $53,000 $56,900
Moderate Income $51,150 $58,450 $65,750 $73,050 $78,900 $84,750
What do “extremely low income,” “low income” and “moderate income” mean? The legal definition from HUD is based on households incomes throughout a region. In the Boston area today, here are the maximum eligible incomes for federal and state housing assistance.
Boston Metro Area Income Limits (2016)
But, Chelsea is different
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0%10%20%30%40%50%60%70%80%90%
100%
Chelsea Boston Metro
Household Incomes:Chelsea and Boston Metro Area
(Source: ACS 2011-2015)
Less than $15K $15K-$34.9K $35K-$49K $50-$74.9K$75K-$99K $100K-$124.9K $125K-$199.9K $200K+
Affordability by the numbers
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29%
17%17%
37%
Chelsea Households by Income Range(Source: HUD, 2015)
Extremely low income
Low income
Moderate income
All others
Affordability by the numbers
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85.2%
80.4%71.1%
62.0%
20.2%
Chelsea HomeownersHousehold Income by Housing Cost Burden
Extremely low income
Low income
Moderate income
Middle income
All others
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