Housing Needs Assessment 2019: Utah Valley HOME Consortium. Cet article n’est pas disponible.Housing Needs Assessment 2019: Utah Valley HOME Consortium

This study considers housing needs in Utah County. By consolidating data from local, state, and national sources, we have created a picture of current and future housing demand. In summary, we conclude that •Current levels of public housing assistance are inadequate to meet the demand in Utah County; more than 12,400 renter households in Utah County are living with very low or extremely low incomes and receive no housing assistance from public sources. •The demand for more affordable rentals continues to grow, particularly for small families. As the small families age, the need for more affordable home ownership options will increase in the coming years. Evidence of this increasing demand is the number of Provo renters with very low income (50 percent or less of HAMFI) who are paying more than 30 percent of their income for rent and utilities; the number has increased from 4,425 in the 2015 assessment to 8,255 today.•Rental rates will continue to increase. Between 2016 and 2017, the average rent for a two-bedroom, one-bathroom, non-student unit in Utah County increased by 15 percent—from $862 per month to $991. The current demand will result in additional rental increases.•From July 2018 through July 2019, 65 building permits for multi-family dwellings have been issued, bringing nearly 2,000 units to market in the next two years. However, this number is still shy of the projected 3,025 units needed by 2022; as the demand grows, rental rates will climb.•The median sales price for residential real estate has increased every year since 2011, when it was $171,000. From January through July 2019, the median sales price was $325,950. The number of single-family home closings has increased every year this decade, and 2019’s trajectory indicates this year will be the same.•With a slight uptick in foreclosure sales so far in 2019, homebuilders should be cautious in construction of high-priced homes. •Nearly 11,000 new single-family homes are needed between now and 2022. Homes priced below the 2018 median price of $315,000 are most needed.