HOUSING AFFORDABILITY People living in a community need both jobs and a place to live. Keeping housing costs affordable helps maintain a healthy economy for the entire community. One way to measure housing affordability is to compare the cost of a home with the median family income. Utility costs are also an essential part of the household budget, and impact disposable income.
DUVAL COUNTY
What does this measure? The ratio between
1.5
20 04
20 03
20 02
20 01
20 00
19 99
19 98
1.0 19 97
2003 $143,784 $56,284
2.0
19 96
2004 $151,719 $56,600
2.5
19 95
Single-family home Median family income
3.0
19 94
risen steadily, outpacing median family income. The National Homebuilders Association considers a ratio of 2.8 or less to be acceptable.
Cost/income ratio (all home sales)
How are we doing? Average housing prices have
3.5
19 92
annual median family income and the average cost of a single-family home in Duval County.
19 93
Affordability of a single-family home: No 2005 Target Duval 2004: 2.68
Downward movement in the trend line is positive.
Source: Real Estate Strategy Center; U.S. Department of Housing and Urban Development
For more information, see JCCI’s 2000 study on Affordable Housing.
24
2005 Quality of Life Progress Report
Actual $$ Projected 2005
$160
$140
$120
$100
20 04
20 02
20 00
19 98
19 96
19 94
$80 19 92
household cost for 1,000 kilowatts of electricity was $72.15, and the cost of 900 cubic feet of water, including sewer charges, which are assessed based on water consumption, was $43.17. Since then, JEA has raised rates, in April 2005 and in September 2005. This increase will bring the cost of 1,000 kilowatt-hours of electricity up to $89.15, for a total (added to water and sewer costs) of $132.32 in 2005 dollars. By comparison, the same utility cost in 1990, adjusted to current dollars, was $137.41.
2004 $$ $180
19 90
How are we doing? In December 2004, the
$200
19 88
ly cost to consumers in December each year of 1,000 kilowatt hours of electricity and 900 cubic feet of water consumption.
DUVAL COUNTY
19 86
What does this measure? Total adjusted month-
19 84
Typical monthly household JEA utilities costs: Duval 2005 Target: $111.32 2004: $115.32
Downward movement in the trend line is positive.
Source: JEA (formerly the Jacksonville Electric Authority)