Dashboard: Everett

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Demographics1
 2000  2010 2013 2014 2015
Population2  91,488  103,019 104,200 104,900  105,800
Housing Units 38,580 43,934 44,770 44,601  45,267
Renter Households 54.1% 53.9% 55.3% 54.9%  42,079
Median Household Income (2015 dollars)  $55,571  $52,040 $48,640 $48,952  $49,578
Households <50% AMI 19.4% 44.8%  44.9% 45.2%  43%
Cost-Burdened Homeowners 29.7%  42.2% 38.7% 36.3%  23.3%
Cost-Burdened Renters 40.6% 50.1% 52.1% 52.1%  52.2%
Average Household Size: Homeowners 2.6 2.5  2.6 2.6  2.54
Average Household Size: Renters 2.2  2.3 2.3 2.3  2.35
Single Family Home Share  48.2%  48.8% 48.8% 48.9%  48%
Single Person Households 31.4% 34.9% 36.4% 36.6%  35.4%
Jobs-Total Housing Ratio 1.87 1.87 2.00
Jobs-Occupied Housing Ratio 1.99 2.01 2.15
Employed People/Occupied Housing Unit 1.16 1.09 1.10
Location Affordability Index

HUD’s Location Affordability Index provides estimates on the typical cost of housing and transportation combined in a given location balancing a wide range of factors. These estimates are expressed in terms of a share of household income, with 45% as the recommended maximum portion of income devoted to the two. Estimates of what several types of households could expect to spend on housing and transportation in the City of Everett are as follows:

  • Regional median income household – 45.9% of income
  • Family at 80% AMI – 50.6% of income
  • Single parent family at 50% AMI – 69.7% of income
  • Retired couple at 80% AMI – 44.6% of income
  • Individual at national poverty line – 144.6% of income
Typical Housing Costs – All Households3
 2000  2010  2013 2014 2015
Median Rent (2015 dollars)  $952  $961  $966 $973  $993
Required Income $38,082  $38,435  $38,640 $38,910
Median Home Value (2015 dollars) $233,233  $303,255  $243,394 $232,654  $230,800
Required Income4 $60,282  $60,010  $49,111 $46,115
Ratio: Median Value-Median HH Income 4.2 5.8 5.0 4.8
Assisted Housing Stock
2003 2007 2010 2013 2014 2015
All Assisted Housing Units 7,700
Section 8 Housing Choice Vouchers: HASCO  459 515 534 713 780 897
Section 8 Housing Choice Vouchers: EHA  2,164 2,247
Market Information

The table below differs from the “Typical Housing Costs” table in that it specifically shows rents and home prices for new renters or homebuyers in that year, as opposed to values for the entire market as in “Typical Housing Costs”.

Median Rents – Dupre and Scott (2015 Dollars)

2010 2013 2014 2015 2016 2017
     Studio  $602  $630  $646  $664
     One Bedroom  $755  $756  $797  $808
     Two Bedrooms  $896  $907  $960  $992
     Three Bedrooms  $1,327  $1,411  $1,442  $1,458
     Four+ Bedrooms  $1,844  $1,809  $1,900  $1,927
Median Home Sale (2015 Dollars)  $218,878  $220,243  $216,983  $250,000  $288,595
     Required Income  $47,401  $44,439  $43,009  $49,628  $57,109


1. Unless otherwise noted, 2010 and 2013 data in “Demographics” table is from 5 year US Census American Community Survey estimate. Data from 2000 is from the 2000 Census SF-3 file.
2. Washington State Office of Financial Management
3. Unless otherwise noted, 2010 and 2013 data in “Typical Housing Costs” table is from 5 year US Census American Community Survey estimate. Data from 2000 is from the 2000 Census SF-3 file.
4. Minimum income is based on a calculation of estimated monthly debt service payment, insurance, and taxes for the median value home using average mortgage terms for the specified year from the Federal Housing Finance Agency. Due to differences in average mortgage terms over the years, the degree of change in minimum income may not seem to match the degree of change in median home value.

 

 

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