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HOUSING AND TRANSPORTATION
AFFORDABILITY INDEX
July 24, 2013
East Central VT Sustainability Consortium MeetingJason Rasmussen
Senior Planner
http://www.streamlinerefinance.net/cost-of-commuting.html
Why develop an H+T affordability index?
To start a conversation about choosing where to live.
This index, which is based on work by the Center for
Neighborhood Technology, is a tool to measure the true
affordability of housing choices.
What is affordable in Vermont?
Affordable housing is “housing that is owned or rented by its inhabitants
whose gross annual household income does not exceed 80% of the county median income [...] and the
total annual cost of the housing [...] is not more than 30% of the household’s
gross annual income”.
24 VSA § 4303
What about transportation costs?
In rural areas housing is often less expensive, but that often means that transportation costs
are higher as people have to travel further.
Transportation is considered affordable when a household
pays no more than 15% of its annual income on
transportation (Center for Neighborhood Technology)
Regional Housing Affordability
Center for Neighborhood Technology H+T Affordability Index
http://www.cnt.org/
Are our towns affordable?
Ando
ver
Balti
mor
e
Caven
dish
Chester
Ludlow
Reading
Sprin
gfield
Wea
ther
sfield
Wes
t Winds
or
Winds
or0%
10%
20%
30%
40%
50%
60%
70%
Estimated transporta-tion costs as a percent-age of 80% of the County's median household income
Esti
mate
d c
osts
45% housing + transportation affordability target
30% housing affordabil-ity target
Questions?
Jason Rasmussen, Senior Planner802-674-9201jrasmussen@swcrpc.org
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