Affordable housing

How is King County doing?

In 2007, approximately 45 percent of renters and 41 percent of home owners with mortgages in King County paid 30 percent of more of their household income for housing. When housing costs absorb such a high percentage of a household's income, it is likely that money will be diverted from other basic necessities such as food, clothing, and healthcare to pay the rent or mortgage.

About 66 percent of owners had incomes of $75,000 or more, but even in this group, more than one-fifth were spending over 30 percent of income on housing. Of note, home prices increased an average of 7.1 percent per year between 2000 and 2007 while median household income increased on average just 3.7 percent per year, resulting in a growing affordability gap for median income home buyers.

Census data show a median income renter has income of two-thirds of the overall median household income, or about $44,700. These households could afford a monthly rent of $1,122 in 2008. Since this amount was more than the average King County rent of $957 for a 2 bedroom, one bath apartment, many rentals would be affordable for these families. Low income families, however, were not able to afford average King County rents. In 2008, a low income family earning about $33,500, or 50% of the median income, could afford to pay $838 per month for rent. This put a 2 bedroom apartment in most parts of the County out of affordable range, but many studio apartments, with an average rent of $815, would be affordable.

What else influences these indicators?

King County households have among the nation's highest average incomes. The combination of increasing incomes and low interest rates has placed a great deal of pressure on the housing market, driving up prices and increasing scarcity of housing, especially for low-income people. Even for middle income households, the challenges are significant. With home prices rising faster than incomes, it is difficult for many residents to qualify for a mortgage.

Additional issues influencing housing affordability include the cost of construction; availability of affordable property on which to build suitable housing; permitting and land use regulations; and coordination among multiple funders, agencies, communities and contractors.

What role does King County government play?

The Department of Community and Human Services (DCHS) coordinates the region's major funding systems for affordable housing outside the city of Seattle, and additionally works closely with Seattle to provide capital investment, treatment and supportive services, and rental assistance. Since 2002, King County has funded over 4,100 low-income housing units. DCHS is also a key player in the Committee to End Homelessness in King County, which for many households has roots in housing affordability.

King County partners with many cities to allocate and administer federal affordable housing development funds. In addition, the county participates with all cities in the Regional Affordable Housing Program and the Growth Management Planning Council to address housing affordability.

The King County Comprehensive Plan addresses affordable housing by encouraging increased density within the urban growth area and provides some affordable housing incentives for developers in urban unincorporated areas. For example, the Department of Development and Environmental Services (DDES) prioritizes permits for affordable housing projects. DCHS and DDES play active roles in developing the Comprehensive Plan and its periodic updates.