1. Robert C. Stroh, Sr., Director Shimberg Center for Affordable Housing University of Florida 14 September 2005 FAR Legislative Strategy Session

2. Shimberg Center Established in 1988 – F.S. 1004.46 Activated 1989 Business lines Teaching – Residential development Housing Policy & Programs Housing Technology Florida Housing Data Clearinghouse

3. Contacts Toll free800-259-5705 Web sitewww.shimberg.ufl.eduwww.shimberg.ufl.edu Housing dataBill O’Dell, Asst. Dir. billo@ufl.edu Policy & Programs Anne Williamson, Asst. Dir. arwill@ufl.edu Housing technologyBob Stroh, Director stroh@ufl.edu

4. Florida Housing Data Florida Housing Data Clearinghouse began four years ago with joint funding from the Florida Housing Finance Corporation (FHFC) and the Shimberg Center. The Clearinghouse provides a common reference point for the health of Florida’s housing stock. The Clearinghouse makes fact-based decision-making possible relative to housing.

5. Housing in Florida Two Florida markets: Large urban & coastal counties Small rural counties Affordability factors: Household incomes Housing prices Mortgage rates

6. Affordability Factors Household Incomes Housing Prices Mortgage Rates Regions: South / Central / North Florida Examples: Palm Beach/Tampa-St.Pete/Duval

7. Median Household Incomes

8. Household Incomes Median income increased in all but five counties 1990-2000 Losers: Brevard (0%), Hardee (-1%), Hendry (-2%), Miami- Dade (-4%), and St. Lucie (-1%) Big Winners: Dixie (19%), Holmes (22%), Jefferson (20%), St. John’s (28%)

9. Occupation/Employment Groups Ability to find affordable housing Occupation/Employment Groups Service workers: Mechanics, Secretaries, Bartenders, Retail, Housekeeping, Receptionists, Security, Tellers, Waiters. Construction: Laborers, Electricians, Plumbers, Carpenters, Painters, Truck drivers. Finance: Accountants, Financial planners, Insurance agents, Credits analysts. Public Service: Firemen, Police, Postal carriers Managers: Engineering, Food service, Lodging, Construction

10. Single-family Home Choices

11. 2-bdrm Apartment Option

12. Affordability Factors Household Incomes Housing Prices Mortgage Rates

13. Florida House Price Appreciation (adjusted for inflation) Year InflationApprec 1971-80 8.11 1.41 1981-90 4.51-1.50 1991-00 2.76 0.21 2001-03 1.94 6.81 2003-prelim 1.88 7.16

14. Indexes Indexes used to relate housing price to household income Interpreting Indexes require caution: Index is misleading when wide variation present Truncated data sources are misleading

15. Affordability Index Affordability Index = (Median family income/Qualifying income) x 100 Higher index value > Easier to afford median priced home Lower index value > Harder to afford median priced home Index indicates relative changes within a county over time and relative affordability of housing across counties

16. Affordability Index Trends

17. Affordability Factors Household Incomes Housing Prices Mortgage Rates

18. I’ll leave that up to you to deal with!

19. Housing Need Indicator Low Income/Severely cost-burdened Households at or below 80% AMI Paying more than 50% for mortgage or rent The Clearinghouse provides current estimates and projections for 2002-2025

20. Affordable Housing Market

21. Affordable Housing Need in Florida

22. The Affordable Home Market Major Challenges Finding qualified buyers – work with community-based non-profit to screen applicants Assembling up-front cost – SHIP money helps in many counties Homebuyer Training – Work with non-profit or county extension office

23. Florida Housing Data Visit the Clearinghouse web site… www.flhousingdata.shimberg.ufl.edu or Contact the Shimberg Center at 800-259-5705

24. County/City Comparisons Projected Construction Demand, 2025 Jefferson County613 Lafayette County862 Gulf County925 Hamilton County989 Orange County236,720 Miami Dade County279,813 Palm Beach County286,862 Broward County420,578

25. More Housing Data HH head age HH Income HH Family size by age HH Tenure ---------------------------------- 2000 Census data for consolidated plan AHNA – for use in preparation of housing element 2000 Census for annual PHA plan for HUD Housing by County/city Mortgage cost Cost burden Values Age/Condition/Size Projected SF/MF demand SF & Mfgr sales/yr Condo sales yr & price

26. Geographic Displays 2002 Median Single Family Sales Price