Grand River Growth Plan -All Gibbs for City Jan 2 2026 - Flipbook - Page 132
Farmington Hills0North
Housing Policy Indicators
Household Count and Growth
Market
Partnership
Household Change, 2016 to 2021
Household Count, 2021
1.7%
12,568
4.8%
520,393
Market
Partnership
Housing Affordability
Home value / partnership income
Median Income, 2021
Median owner income, 2021
Median renter income, 2021
Median home value
Median gross rent
Income needed for median rent
Income needed for median value
Overburdened households
Number
3.39
$102,316
$125,662
$59,964
$292,280
$1,361
$54,440
$97,427
3,060
%
00
00
00
00
00
00
00
00
24%
% Change
Number
%
% Change
00
00
00
17.3%
11.9%
9.7%
20.9%
30.9%
00
00
015.0%
$86,275
$104,646
$51,535
$268,600
$1,156
$46,240
$89,533
128,058
00
00
00
00
00
00
00
00
Market
Housing Quality and Vacancy
"Other" vacancy
Seasonal vacancy
For0Sale vacancy
For0Rent vacancy
Homes built pre01940
Homes built post01990
Number
135
72
46
521
438
2,838
24.6%
%
1.0%
0.5%
0.3%
3.9%
3.3%
21.2%
% Change
038.1%
53.2%
046.5%
55.1%
00
00
Number
11,855
4,100
2,846
9,160
42,258
151,915
%
2.2%
0.8%
0.5%
1.7%
7.9%
28.5%
Moderate Cost and Growing
High Strength and High Need (Type I)
Gap Analysis 2021
Market demand (estimated annual moves)
Owner Units
207
Renter Units Total Units
323
530
Market supply (vacant on market, adjusted for age)
22
111
133
5 year Market production goals (based on 75K units)
178
205
383
1 year Market production goals (based on 15K units)
36
41
77
5,071
1,014
5,899
1,180
10,970
2,194
5 year Partnership goals (based on 75K units)
1 year Partnership goals (based on 15K units)
00
00
08.3%
Partnership
Other Market Indicators
Housing Policy Matchmaker Type*
Strength and Need Type**
11.9%
9.7%
13.7%
27.0%
8.2%
% Change
07.1%
031.8%
027.4%
15.0%
00
00
