31.03.150 Affordable housing– Inventory and analysis.
(1) GMA Goal. Encourage the availability of affordable housing to all economic segments of the population of this State, promote a variety of residential densities and housing types, and encourage preservation of existing housing stock.
(2) Definition. Affordable housing is typically broken into three categories based on family income. Because of the increase in housing values in the past five years, all three categories of affordable housing are desired within the planning area.
•Very low income – those families earning below 50 percent of County-wide median income can afford to spend 33 percent on rent or sale price;
•Low income – those families earning 50 to 80 percent of County-wide median income can afford to spend 33 percent on rent or sale price;
•Moderate income – those families earning 80 to 95 percent of County-wide median income can afford to spend 33 percent on rent or sale price.
(3) Cost of Housing. Recent trends show that the average home price is greater than what a median income family can afford. Manufactured housing, on the other hand, had an average value of $42,000. Manufactured housing on leased lots (e.g., mobile home parks) can be an affordable option.
(4) Affordable Housing Types. The types of affordable housing available within the Sequim-Dungeness area include:
•Multifamily in Sequim;
•Mobile home parks, such as Parkwood, Green Acres, etc.;
•Housing developments, such as Monterra which have manufactured housing;
•Housing developments with small lot sizes, such as Solmar and Sunshine Acres; and
•Accessory housing, such as converted basements and guest houses.
(5) Regulations. Additional regulations and costs for public services and facilities can drive up the cost of housing. Limiting densities in rural areas may make the area more exclusive, which could raise property values and thus, property taxes.
Flexible zoning techniques could lower the cost of some property. Rather than establishing minimum lot sizes in rural areas, land divisions could be based on maximum residential density. This way, a landowner might be able to place lots closer to required services, such as roads and electricity, thus lowering the cost for development of the lots.