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Regional Housing Trends in Westchester • The Department worked closely with Pattern for Progress to develop a Housing Needs Assessment in 2019 and provide updated data in 2022: 1. Housing Need 2. The affordability gap for homebuyers and renters 3. Housing cost burdened – renters and homeowners 4. Municipal housing snapshots for each municipality in the county (separate) NEW HOUSING Needed: Original and Updated Need Original Housing Needs Assessment Findings Updated Snapshot Homeless households Homeless households Severely overcrowded households 4,523 Severely overcrowded households 4,875 Non- Westchester Home Seeker registrants 6,334 Non- Westchester Home Seeker registrants 10,341 Total 11,703 Total 16,007 50,000 100,000 150,000 200,000 250,000 Owner-occupied units Renter-occupied units Year Owner- occupied units % Change Renter- occupied units % Change 123,917 N/A 117,364 N/A 145,881 17.7% 136,748 16.5% 161,201 10.5% 146,249 6.9% 190,933 18.4% 129,097 -11.7% 202,673 6.1% 134,469 4.2% 213,888 5.5% 133,344 -0.8% 219,084 2.4% 148,212 11.2% Growth in Rental Units, but Close to Number in 1980 New York City 197,000+ (43%) North NJ 183,000+ (40%) Hudson Valley 31,000+ Connecticut 27,000+ Long Island 19,000+ (HV, CT, and LI accounted for 17% of total permits issued) *NYC Geography of Jobs Report - Housing Permits Issued Between 2009 and 2018 Jobs follow the Housing Link between housing & jobs Housing has slowed since recession – but stronger in NJ than in Hudson Valley NYC ahead in job growth - outpacing all other areas of the region in job growth. Aging workforce outside NYC Strain on transit system - • *NYC Geography of Jobs Report - 2019 Housing and its impact on economic development • Cost of housing is a significant barrier to attracting a skilled workforce in the County • Westchester workers cannot afford to live in Westchester. There are more workers who commute into Westchester to work than who live and work in the County. • Longer commutes; more traffic Year Share of Westchester Workers Who Live in Westchester 54.1% 52.6% 52.2% 51.9% 51.9% 50.1% 49.4% 48.6% 48.1% 47.2% 47.2% 47.0% 46.8% 46.4% 46.2% 45.5% 45.4% 45.1% 44.3% 43.9% Source: LEHD Origin-Destination Employment Statistics Our communities are a part of a broader housing market • Municipalities have a shared responsibility to identify opportunities for affordable housing • Makes our region more competitive • Housing costs are the largest single expenditure for the average U.S. household • We’re all in this together! Status of Affordable Housing Developments Overall Progress since January 1, 2018 to March 31, 2024 Completed/Occupied Closed/Under Construction/Renovation Approved by CPB & BOL / IDA Approvals Pending Proposed Developments Total HOUSING UNITS CREATED IN WESTCHESTER COUNT How does this all relate back to the Village? • Empty nesters would like to downsize but do not have affordable options to move to in Croton • Young adults who grew up in Croton cannot afford their own apartment or home in Croton • Seniors who cannot afford increasing costs of homeownership or rent will likely have to relocate Village has taken a proactive approach to resolving the housing crisis  Sought out development of affordable housing on Village owned properties  41-51 Maple Street – 28 units of affordable housing nearing completion, County Assisted with NHLA  Lot near train station to be redeveloped with affordable homeownership. County ready to assist this development once finalized ALL TYPES OF HOUSING ARE NEEDED 41-51 Maple Street NEW HOMES LAND ACQUISITION HOUSING IMPLEMENTATION FUND HOME PARTNERSHIP FUND FLEX FUNDS NOFA Released late January 2024 - $100M in ARPA funds Used as a gap closer for housing developments Low interest loans – 5% Units must be for households at 65% or below – Treasury guidelines Money must be committed by end of 2024 and fully spent by Dec. 2026 Received 27 applications; over $175,000,000 requested https://homes.westchestergov.com/images/stories/pdfs/whfffaq.pdf