Vol. IV No. 15 8/1/2023
Key Take Aways from The Housing Production Plan — Assessment of Need — July 17, 2023
Sponsored by the Affordable Housing Trust, this presentation was the first part of creating a plan for housing. Chair Ranne Warner welcomed the attendees, and Vice Chair Jan Ackerman introduced the program.
A Housing Production Plan has four parts: understand local data; identify the need; prioritize strategies; create the plan for housing.
What followed was an enthusiastic public sharing ideas ad opinions based on the local data as follows:
Stockbridge has both the lowest income and the highest income in the area. It also has the highest priced houses.
Stockbridge has 1638 homes, 80% were built before 1980. Of the 1638 homes, 811 are full time residents and 827 part-timers. There is a very low vacancy rate — there is very low inventory for rent or purchase.
Stockbridge exceeds the 10% requirement for affordable housing. 10% would be 81 units (only full-time households counted by state) and Stockbridge has 113.
61 units, senior housing, Heaton Court
30 units, affordable, Pine Woods
22 units, women with disabilities, Riverbrook School
Change over a decade: 2010 — 2021 (Only counts full-time residents and houses)
More houses — from 724 to 811
Fewer people in a household
Decline in student population.
Increase in elderly population.
Median age rose from 41 years old to 60 years old.
Median income dropped from $55,000 to $46,000 annually.
Both wealth and poverty grew as follows:
Earning $100,000 or more grew from 128 to 223.
Earning $35,000 or less grew from 219 to 371.
There was a growth in disparity reflecting national trend.
The median cost of a home for purchase today is $575,000. It is estimated that would require a $112,000 down payment and an annual income of $148,000. The median cost of a two-family home is about $100,000 less and the annual income necessary is $62,000 — reduced by the rental income. Either way, 77% of the current full-time population could not afford to buy a home in Stockbridge. 1 in 3 pays 30% of annual income for carrying costs and 1 in 8 pay 50%.
Overview: fewer people 35 — 50 years old live in Stockbridge; there are fewer families and fewer school children; there are more elderly and smaller households (1 or 2 people). With both wealth and poverty up, the disparity is greater.
Editor's note: There will be more open meetings and opportunities for the public to share. The regular, monthly AHT meetings are also open to the public in person and via Zoom. Mull over the data and consider the needs. Is it to create more affordable housing or more workforce housing? Is it to help seniors remain in their homes or young families to buy homes? Is it to increase opportunities to rent or buy? Is it all the above? If all the above, how do we prioritize? Prioritizing is the next step in the Housing Production Plan.
Unless otherwise noted ALL Town board, commission, and committee meetings are available via Zoom and at CTSB.org
Photo: Blue Moon Images/Dana Goedewaagen