Housing and Real Estate
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Housing and Real Estate Residential Development Subdivision Activity Residential subdivision activity is an indicator of future housing construction. There are three types of subdivisions in Thurston County, all of which involve the division of contiguous property for the purpose of sale, lease, or transfer of ownership: •
Large lot subdivisions divide property into two or more lots, any one of which is five acres in size or larger, but less than 40 acres in size. Occurs only in the unincorporated county.
•
Short Plat subdivisions are those that, because of the small number of lots created, or the lack of a need for public streets or other public facilities, can be approved in an expedited manner. Lots must be smaller than five acres in size. Occurs in all jurisdictions.
•
Long Plat subdivisions, on the other hand, are those which constitute a major subdivision of land and require a more extensive review. Occurs in all jurisdictions.
Large lot subdivision activity typically fluctuates significantly from year to year. In 2005, there were 180 new lots, compared to 120 in 2004. All large lot activity takes place in the unincorporated County. Short plat activity typically remains more constant. Most short plat subdivision activity takes place in unincorporated Thurston County, which includes Urban Growth Areas (UGAs) for every jurisdiction. In 2005, this accounted for 37 percent, or 95 of the total 255. Although significantly less than Thurston County, six other jurisdictions also saw short plat subdivision activity: Olympia, Lacey, Tumwater, Yelm, Rainier and Tenino. Long plat lot creation in Thurston County went up tremendously in 2005 from 2004 with 2,481 new lots in 2005, compared to 1,504 in 2004. Only 16 percent of subdivision activity took place in unincorporated Thurston County in 2005, compared to 41 percent
Profile III-1 The October 2006
Table III-1 provides a historical look at large lot, short plat, and long plat subdivision activity for Thurston County.
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
in 2004. This is partly because in 2005, Lacey saw a tremendous increase: 1,443 in 2005, compared to 460 in 2004. Lacey accounted for 58 percent of long plats in 2005. Although significantly less, four other jurisdictions also saw long plat subdivision activity: Tumwater, Yelm, Olympia, and Rainier. Dwelling Units Table III-2 shows census recording inventory of housing units type by jurisdiction.
Historical trends affecting housing units can be observed using decennial Census data, giving an idea of the level of growth the county has seen in the last 30 years. Between the 1970 and 2000 Census, over 58,000 units were added to the county, accounting for 67 percent of the county’s housing stock.
Table III-3 presents a current and historical summary of housing starts.
The expected number of homes to be built in the near future can be estimated by housing starts, which is the number of building permits that are taken out in a specified period of time. Over the past decade, the number of housing starts has varied, from a high of 2,754 in 1994, to a low of 1,532 in 2000. In 2005 the number of housing starts climbed back up to 2,713 units permitted, marking an economic recovery to the housing market in Thurston County. Where the housing starts are located also varies year to year. In 2001 the number of new dwellings permitted was roughly equal between the urban and rural areas, but just a year later the urban areas saw almost double the amount of units compared to the rural areas. In 2005 the new housing market was dominated by single-family homes, which accounted for 90 percent of the market share. Manufactured homes were still a strong component of rural growth, capturing 26 percent of the market share. Manufactured homes are growing in resale value due to their affordability, increasing size, and quality. Most of Thurston County’s jurisdictions include policies in their Comprehensive Plans that allow manufactured housing to be sited in residential neighborhoods on single-family lots as one strategy to meet affordable housing needs for the community.
Table III-4 breaks down annual housing starts by dwelling type, and Figure III-1 illustrates recent trends in single-family, multifamily, and manufactured home starts in Thurston County.
Multifamily homes also provide an affordable option for many families. In 2005, multifamily homes captured 30 percent of the market share in the cities and urban growth areas, where services are available to support higher density growth patterns. While housing starts give an indication of where growth is occurring, small area dwelling unit estimates provide complimentary information
Profile III-2 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
on growth patterns. Dwelling unit estimates incorporate housing starts; however, the methodology also includes calibrating to the U.S. Census and annual estimates of population and housing released by the State Office of Financial Management. Care is taken to account for all types of residential activity, including demolitions, family member units, accessory dwelling units, and replacements of manufactured homes. Of the new dwelling units built from April 1, 2005 to April 1, 2006, some 70 percent are located in the cities and urban growth areas, while the remaining 30 percent of the dwellings are located in rural areas. In 2000 it was estimated that 70 percent of homes in the county were located in the urban areas, and by 2005 that share had dropped slightly to 69 percent.
Table III-5 shows total small area dwelling unit estimates by jurisdiction for 20002006. Table III-6 provides an estimate of the number of new dwelling units in Thurston County. Maps 11 and 12 illustrate housing starts. Table III-7 shows small area dwelling unit estimates by housing type for 2000 and 2006.
Housing Costs Ownership Of the 4,470 homes sold in Thurston County in 2005, 3-bedroom homes made up the majority of sales, accounting for 64 percent. Smaller, one- and two-bedroom homes comprised 13 percent of sales, while four-bedroom homes made up 21 percent of sales. Five or more bedroom homes made up only 2 percent of home sales. Olympia continued to have the greatest number of housing sales within the cities in 2005, with 927 units sold. Home sales continued to increase in Lacey, from 739 in 2004 to 751 in 2005, and in Tumwater, from 339 to 365. Thurston County also showed an increase in housing sales, from 4,013 in 2004 to 4,470 in 2005. The average sale price increased significantly in each major jurisdiction, with Olympia seeing the greatest increase in sale price, almost $57,000, or 25 percent. The ability to purchase a home is a long standing concern of Thurston County residents. The Housing Affordability Index measures the ability of a middle income family to carry the mortgage payments on a median price home. When the index is 100, there is a balance between the family’s ability to pay and the cost. Higher indexes indicate housing is more affordable. First-time buyer index assumes the purchaser’s income is 70 percent of the median household income. Homes purchased by first-time buyers are 85 percent of area’s median price. All loans are assumed to be 30 year loans. All buyer index assumes 20 percent downpayment. First-time buyer index assumes 10 percent down. It is assumed 25 percent of income can be used
Profile III-3 The October 2006
Table III-8 and Figure III-2 show average housing sale prices by number of bedrooms. Table III-9 is a sample of housing sales activity by jurisdiction while Figure III3 shows the distribution of housing sales by value. Table III-10 is a sample of lot sales activity.
Table III-11 shows housing affordability in Thurston and surrounding counties for first quarter 2006. Table III-12 displays historical housing affordability index trends in Thurston and surrounding counties.
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
for principal and interest payments. An affordability index of 100 indicates that a balance exists between the family’s ability to pay and housing costs. An index of 126 would mean that a median income family has 26 percent more income than the bare minimum required to qualify for a mortgage on the median price home. An index of 80 would mean that a median income family has less income than the bare minimum required to qualify for a mortgage on the median price home. Thurston County’s housing affordability index was calculated at 111.6 for the first quarter of 2006, compared to 141.9 for the first quarter of 2005. The index for first time home buyers was 65.9 for the same time period, which was significantly lower than the 2005 index of 83.7. The decreases in both indexes show that access to affordable housing in Thurston County became more difficult in 2006 over 2005. Rentals The ratio of home ownership to home rental has been declining in Thurston County every decade since the 1960 Census. As cities strive to “densify” and resist urban sprawl, multifamily dwellings are encouraged. This will, in turn, drive down the owner/renter ratio. Other factors are at work as well, including increased home prices and greater community efforts to house those who may not be able to afford it unassisted. Table III-13 shows census data on trends in owner and renter housing, and Figure III-4 illustrates the trends in owner/renter housing. Table III-14 shows census data on the housing value of owner-occupied housing units. Table III-15 is a survey of average home and duplex rental costs in Lacey, Olympia, and Tumwater. Table III-16 shows average apartment rents and vacancy rates in Thurston County.
The percentage of renters in Thurston County has increased steadily since 1960. In 1960, 26 percent of County households lived in rental housing. By 2000 that number had grown to 33 percent of the households, although down from 35 percent in 1990. The metropolitan jurisdictions have a much greater number of renter households. Olympia, and Tumwater have close to a 50/50 split between owner occupied and renter occupied housing units in 2000. At the same time, Lacey and Yelm owner occupied units are approximately 55 percent and renter occupied 45 percent. Rental housing is important for young people just starting out, older people who need to sell their homes and move into smaller housing, single householders who cannot find purchase opportunities that are affordable on one income, and family households in transition due to any number of causes.
Table III-17 shows average apartment rents and vacancy rates in Thurston and surrounding counties.
Profile III-4 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Housing Authority of Thurston County The Housing Authority of Thurston County has been in the business of providing safe, decent, and affordable housing opportunities since 1971. The ultimate goal of the Housing Authority is to assist families and individuals to secure long-term, permanent housing. The Housing Authority offers a variety of rental assistance programs that are categorized as either “tenant-based” or “project-based.” Tenant Based rental assistance in the form of a voucher follows the client to any private market property that accepts rental assistance and that meets housing quality standards. Project Based rental assistance is attached to the rental unit and does not follow the client if they move from the assisted unit. For both categories of rental assistance, the household’s portion of the rent is based upon 30 percent of monthly adjusted income. The Housing Authority offers a variety of programs for emergency and transitional housing. The Authority owns and operates four units of emergency shelter in Tumwater. This program provides 30 to 90 days of shelter and supportive services for families while they locate permanent housing. Limited funds are available to prevent homelessness by providing assistance for first month’s rent, security deposits, or delinquent rent. The Authority operates two transitional housing programs providing one to two years of rental assistance and supportive services while families search for permanent housing and stable income. The Housing Rehabilitation Program offers low or no interest loans for repair and rehabilitation of owner occupied and rental properties within certain eligible areas in Thurston County. This program is designed to assist low- and moderate-income households. The Authority also operates a limited First-Time Home Buyer Counseling Program designed to assist individuals and families move to homeownership. The Program provides counseling, referral to available resources, and limited down payment assistance to eligible households.
Profile III-5 The October 2006
For more information about the Housing Authority’s programs visit www.hatc.org.
Profile III-6 The October 2006 2 6 1 1 0 3 17 30
Long Plat Subdivisions Lacey Olympia Rainier Tenino Tumwater Yelm Unincorporated Total Long Plat Subdivisions 122
1 0 0 0 0 0 8 9
0 7 9 0 2 1 1 55 75
38
2000
122
2 2 1 0 1 5 13 24
0 5 7 1 0 5 3 43 64
34
2001
130
0 3 0 0 0 3 16 22
0 12 10 0 0 6 1 46 75
33
2002
152
2 0 1 0 2 2 28 35
0 7 8 1 0 2 0 50 68
49
2003
134
6 1 0 0 3 2 18 30
0 3 12 1 0 3 1 53 73
31
2004
149
11 5 1 0 6 5 12 40
0 3 11 4 2 6 5 36 67
42
2005
1,469
133 243 19 7 0 76 585 1,063
4 19 6 0 0 9 2 156 196
210
1999
683
104 0 0 0 0 0 163 267
0 36 22 0 6 4 4 158 230
186
2000
967
35 65 15 0 51 130 340 636
0 19 20 2 0 13 8 130 192
139
2001
903
0 44 0 0 0 56 505 605
0 39 37 0 0 15 2 114 207
91
2002
1,808
171 0 6 0 89 86 1,071 1,423
0 17 18 4 0 7 0 131 177
208
2003
Number of New Lots Created
1,818
460 140 0 0 149 142 613 1,504
0 13 28 4 0 9 4 136 194
120
2004
2,916
1,443 294 14 0 189 156 385 2,481
0 38 65 10 6 13 28 95 255
180
2005
Sources: Thurston County Auditor; Sources: Thurston County Auditor; TRPC.TRPC. Explanations: Large lot subdivisions property intoortwo or lots, moreany lots,one anyofone of which fivein acres or larger, less 40inacres size. Plat Short Plat Explanations: Large lot subdivisions dividedivide property into two more which is five isacres sizein orsize larger, but lessbut than 40than acres size.inShort subdivisions subdivisions are those because small are those that, because of thethat, small numberofofthe lots cre�number of lots created, or the lack of a need for public streets or other public facilities, can be approved in an expedited manner; lotsacres mustinbesize. smaller than five acres in size. subdivisions those which constitute major subdivision of land and require a moreisextensive smaller than five Long Plat subdivisions areLong thosePlat which constitute aare major subdivision of land aand require a more extensive review. Bucoda tracked asreview. part of Bucoda is Thurston tracked asCounty part offor unincorporated Thurston County for long plat subdivisions. unincorporated long plat subdivisions.
143
1 7 3 0 0 3 1 55 70
Total New Lots
43
Short Plat Subdivisions Bucoda Lacey Olympia Rainier Tenino Tumwater Yelm Unincorporated Total Short Plat Subdivisions
1999
Large Lot Subdivisions Unincorporated
Subdivision Type Jurisdiction
Table III-1 Table III-1 Large Lot, Short Plat, and Long Plat Subdivision Activity Large Lot, Short Plat, and Long Plat Subdivision Activity Thurston 1998-2005 Thurston County, County, 1999-2005
Thurston Regional Planning Council
Chapter III: Housing and Real Estate
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-2 Table III-2 Total Housing Units by Jurisdiction, 1970-2000 Total Housing Units by Jurisdiction, 1970-2000
Jurisdiction Type
1970
BUCODA Single-family 143 Multifamily 0 Manf'd Homes 8 Total Units 151 LACEY Single-family 2,456 Multifamily 736 Manf'd Homes 86 Total Units 3,278 OLYMPIA Single-family 6,725 Multifamily 2,209 Manf'd Homes 242 Total Units 9,176 RAINIER Single-family 99 Multifamily 11 Manf'd Homes 10 Total Units 120 TENINO Single-family 289 Multifamily 36 Manf'd Homes 17 Total Units 342 TUMWATER Single-family 1,431 Multifamily 604 Manf'd Homes 78 Total Units 2,113 YELM Single-family 173 Multifamily 22 Manf'd Homes 13 Total Units 208 UNINCORPORATED Single-family 10,293 Multifamily 784 Manf'd Homes 1,381 Total Units 12,458 COUNTY TOTAL Single-family 21,609 Multifamily 4,402 Manf'd Homes 1,835 Other* 608 Total Units 28,454
Census Recording 1980 1990
2000
Percent Change 1970-80 1980-90 1990-00
181 0 32 213
177 0 34 211
196 0 33 229
27% 0% 300% 41%
-2% 0% 6% -1%
11% 0% -3% 9%
3,186 2,434 218 5,838
4,548 2,836 697 8,081
7,604 4,546 928 13,078
30% 231% 153% 78%
43% 17% 220% 38%
67% 60% 33% 62%
8,169 3,938 453 12,560
9,351 5,637 940 15,928
10,623 8,228 787 19,638
21% 78% 87% 37%
14% 43% 108% 27%
14% 46% -16% 23%
179 20 106 305
224 14 119 357
416 29 110 555
81% 82% 960% 154%
25% -30% 12% 17%
86% 107% -8% 55%
369 95 38 502
389 85 50 524
431 96 86 613
28% 164% 124% 47%
5% -11% 32% 4%
11% 13% 72% 17%
1,785 936 199 2,920
2,563 1,504 396 4,463
2,825 2,657 461 5,943
25% 55% 155% 38%
44% 61% 99% 53%
10% 77% 16% 33%
341 103 26 470
403 77 30 510
852 338 127 1,317
97% 368% 100% 126%
18% -25% 15% 9%
111% 339% 323% 158%
20,513 3,463 3,923 27,899
24,898 2,814 8,678 36,390
32,088 3,978 8,823 44,889
99% 342% 184% 124%
21% -19% 121% 30%
29% 41% 2% 23%
34,723 10,989 4,995 * 50,707
42,553 12,967 10,944 * 66,464
55,035 19,872 11,355 390 86,652
61% 150% 172% * 78%
23% 18% 119% * 31%
29% 53% 4% * 30%
Source: Census. Source:U.S. U.S.Bureau BureauofofCensus, Census,1970, 1970,1980, 1980,1990, 1990,and and2000 2000 Census. Explanations: *Other *Otherwas wasdefined definedininthe the1970 1970 Census "migratory seasonal structures which Bureau of the Explanations: Census asas “migratory andand seasonal structures which the the Bureau of the Census excludes from its year-round classification.” In the 1980 these structures incorporated into the Census excludes from its year-round classification." Inand the 1990 1980 Census, and 1990 Census, these were structures were incorporated Manufactured Home category “Mobile trailer, other.” In other." the 2000InCensus, there was athere separate category into the Manufactured Home as category ashome, "Mobile home, trailer, the 2000 Census, washousing a separate defined “Boat, RV, van, etc.” housingascategory defined as "Boat, RV, van, etc."
Profile III-7 The October 2006
Profile III-8 The October 2006 78 10 88 5
63 23 86 5
City UGA Total
Total
Yelm
Total 898 267 1 856 2,022
2,754
1
1,553 268 0 933
0
9 0 9
2,263
1,126 341 0 796
0
0
5
96 3 99
46 64 110
15 0 15
23 1 24
398 89 487
539 179 718
1996 4 0 4
1,862
743 384 0 735
0
0
11
66 11 77
54 50 104
14 1 15
18 3 21
252 126 378
335 182 517
1997 5 0 5
2,161
923 422 0 816
0
0
7
114 10 124
114 64 178
5 1 6
8 0 8
240 94 334
437 246 683
1998 1 0 1
2,152
936 423 0 793
0
0
1
90 8 98
84 99 183
9 1 10
2 0 2
446 155 601
304 159 463
1999 3 0 3
1,532
344 499 0 689
0
0
3
65 9 74
42 35 77
10 1 11
16 1 17
112 135 247
96 315 411
2000 3 0 3
1,736
465 423 0 848
0
0
7
110 6 116
60 44 104
6 1 7
2 1 3
120 160 280
164 204 368
2001 1 0 1
1,619
639 407 0 573
0
0
4
136 7 143
42 80 122
21 0 21
12 2 14
234 72 306
193 242 435
2002 2 0 2
2,543
834 839 0 870
0
0
6
211 13 224
76 183 259
10 0 10
9 1 10
158 284 442
368 352 720
2003 1 0 1
2,435
666 822 1 946
0
1
3
63 5 68
92 222 314
26 1 27
7 0 7
155 168 323
322 423 745
2004 1 0 1
2,713
1,528 300 3 882
3
0
4
216 5 221
156 90 246
13 0 13
37 1 38
273 63 336
832 137 969
2005
10,655 5,395 5 9,737 25,792
4
1
61
1,308 110 1,418
1,257 1,051 2,308
150 11 161
156 14 170
3,070 1,439 4,509
4,676 2,709 7,385
38 0 38
Total
888 450 0 811 2,149
0
0
5
109 9 118
105 88 192
13 1 13
13 1 14
256 120 376
390 226 615
3 0 3
Average
Sources: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County building departments Sources: Thurston Regional Planning Bucoda, Lacey, Olympia, Tumwater, Includes Yelm, and departments. Explanations: Count of dwelling unitsCouncil; permitted. Assumes constant 2000 Rainier, City andTenino, UGA boundaries. allThurston permittedCounty housingbuilding units - may not reflect actual housing units built. Housing starts Explanations: of dwelling permitted. 2000 and UGA Includes all permitted housing units - contact may notTRPC reflectand actual housing units built. Housing are reported for Count each calendar year.units Demolitions andAssumes reissued constant permits are notCity included in thisboundaries. table. For further details on housing starts, please ask for a specialized query. starts are reported for each calendar year. Demolitions and reissued permits are not included in this table. For further details on housing starts, please contact TRPC and ask for a specialized query. 11 Data is is for for Thurston Thurston County portion Data portion of of reservation reservationonly. only. 2 2 UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. 3 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. Maps 11 11 and and 12 12 illustrate illustrate housing Maps housing starts. starts.
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Nisqually Reservation
Chehalis Reservation
1
60 52 112
431 68 499
City UGA Total
Tumwater
0
11 2 13
10 3 13
City UGA Total
Tenino
0
14 1 15
8 3 11
City UGA Total
Rainier
Total
160 56 216
522 37 559
City UGA Total
Olympia
1
570 141 711
516 129 645
City UGA Total
Lacey
Grand Mound UGA
5 0 5
3 0 3
1995
City UGA Total
1994
Bucoda
Jurisdiction
Table III-3 Table III-3 Housing Starts, Thurston Citiesand and UGAs, 1994-2005 g Starts, Thurston County County Cities UGAs, 1994-2005 Housin
Thurston Regional Planning Council
Chapter III: Housing and Real Estate
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-4 III-4 Table HousingStarts Starts by by Dwelling Dwelling Type, Housing Type,2005 2005 SingleFamily
Jurisdiction
Multifamily
Manufactured Home
Total
Bucoda
City UGA Total
1 0 1
0 0 0
0 0 0
1 0 1
Lacey
City UGA Total
832 112 944
0 4 4
0 21 21
832 137 969
Olympia
City UGA Total
247 58 305
26 5 31
0 0 0
273 63 336
Rainier
City UGA Total
35 1 36
0 0 0
2 0 2
37 1 38
Tenino
City UGA Total
11 0 11
0 0 0
2 0 2
13 0 13
Tumwater
City UGA Total
94 81 175
47 3 50
15 6 21
156 90 246
Yelm
City UGA Total
214 1 215
0 0 0
2 4 6
216 5 221
Grand Mound UGA
Total
4
0
0
4
Chehalis Reservation 1
Total
0
0
0
0
Nisqually Reservation 1
Total
0
3
0
3
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
1,434 257 0 776 2,467
73 12 3 3 91
21 31 0 103 155
1,528 300 3 882 2,713
Source: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County Source: Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County buildingThurston departments. building departments. Explanations: Count of dwelling units permitted. Assumes constant 2000 City and UGA boundaries. Includes all permitted housing units -Count may not reflect actual unitsAssumes built. Housing starts areCity reported for each calendar year. Demolitions Explanations: of dwelling unitshousing permitted. constant 2000 and UGA boundaries. Includes all permitted and reissued not included in this table. For further details onare housing starts, contact TRPC and ask for aand housing units -permits may notare reflect actual housing units built. Housing starts reported forplease each calendar year. Demolitions specialized query. reissued permits are not included in this table. For further details on housing starts, please contact TRPC and ask for a specialized 1 Data is for Thurston County portion of reservation only. query. 1 2 UGA Urban Growth Area.portion Unincorporated area only. designated to be annexed into city limits over 20 years time to accommodate Data is -for Thurston County of reservation 2 urban- growth. UGA Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. accommodate urban growth. 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-9 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
3,000 2,500 2,000 1,500 1,000 500
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
0 1994
Dwelling Units Permitted
Figure III-1 Figure III-1 Thurston County Housing Starts, 1994-2005 Thurston County Housing Starts, 1994-2005
Year
Single-Family Units
Multifamily Units
Manufactured Homes
Source: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County building departments. Source: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston Explanation: See Table III-4 for select supporting data and notes; full data are available from TRPC.
County building departments.
Explanation: See Table III-4 for select supporting data and notes; full data are available from TRPC.
Profile III-10 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-5 III-5 Unit Estimates Total Small AreaTable Dwelling Total Small Area Dwelling Unit Estimates Thurston County Cities and UGAs, 2000-2006 Thurston County Cities and UGAs, 2000-2006
Jurisdiction
2000
2001
2002
2003
2004
2005
2006
Bucoda
City UGA Total
235 * 235
240 * 240
240 * 240
245 * 245
240 0 240
245 0 245
245 0 245
Lacey
City UGA Total
13,160 11,010 24,170
13,300 11,130 24,430
13,490 11,500 24,990
13,590 11,870 25,470
13,770 12,270 26,040
14,260 12,690 26,950
15,070 12,790 27,860
Olympia
City UGA Total
19,740 3,810 23,540
19,740 3,950 23,690
19,890 4,090 23,980
19,990 4,230 24,220
20,130 4,540 24,660
20,260 4,700 24,960
20,520 4,750 25,280
Rainier
City UGA Total
550 65 615
550 65 615
550 70 620
570 70 640
575 70 645
590 75 665
620 75 700
Tenino
City UGA Total
615 60 675
620 60 680
625 65 690
645 65 710
630 70 700
645 70 710
650 70 715
Tumwater
City UGA Total
5,950 3,090 9,040
5,990 3,120 9,100
6,030 3,150 9,180
6,030 3,270 9,300
6,090 3,460 9,550
6,160 3,670 9,830
6,300 3,720 10,020
Yelm
City UGA Total
1,325 425 1,750
1,380 430 1,810
1,485 435 1,925
1,610 445 2,055
1,710 455 2,165
1,860 460 2,320
2,060 460 2,520
Grand Mound UGA
Total
315
320
320
330
335
335
335
Chehalis Reservation 1
Total
15
15
15
15
15
15
15
1
Total
210
210
210
215
215
215
220
41,580 18,780 225 26,080 86,650
41,820 19,070 225 26,700 87,820
42,320 19,630 225 27,390 89,560
42,680 20,280 225 28,350 91,540
43,140 21,190 230 29,160 93,720
44,010 22,000 230 30,070 96,310
45,460 22,210 235 30,780 98,680
Nisqually Reservation
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Sources: Thurston ThurstonRegional RegionalPlanning PlanningCouncil; Council;Bucoda, Bucoda,Lacey, Lacey,Olympia, Olympia, Rainier, Tenino, Tumwater, Yelm, Thurston Sources: Rainier, Tenino, Tumwater, Yelm, andand Thurston Countybuilding buildingdepartments; departments;U.S. U.S.Bureau Bureauofofthe theCensus; Census;Washington Washington State Office Financial Management. County State Office of of Financial Management. Cityand andUGA UGAboundaries boundariesmay maychange changeover overtime timedue duetotoannexations. annexations.Data Data April 1 of each year. Explanations: City Explanations: areare forfor April 1 of each year. Numbers Numbers may not add due to rounding. may not add due to rounding. Note: Dwelling Dwellingunit unitestimates estimatesincorporate incorporatehousing housingstarts startsdata, data,however, however,thethe methodology also includes calibrating U.S. Note: methodology also includes calibrating to to U.S. Censusand andOFM OFMdata, data,includes includesdemolitions, demolitions,and anddoes doesnot notinclude includereplacements replacementsand and activity manufactured home parks.For Census activity in in manufactured home parks. more information, pleaseplease see technical documentation on “Small Area Population and Dwelling Unit Estimates” in the appendix For more information, see technical documentation on "Small Area Population and Dwelling Unit Estimates" in the ofappendix RegionalofBenchmarks for Thurston TRPC, 2003. Regional Benchmarks forCounty, Thurston County, TRPC, 2003. *Bucoda *Bucodadid didnot nothave haveananUrban UrbanGrowth GrowthArea Areaprior priortoto2004. 2004. 1 Data is for Thurston County portion of reservation only. 1 Data is for Thurston County portion of reservation only. 2 UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate 2 UGAgrowth. - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to urban 3accommodate urban growth. Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-11 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-6 Table III-6 Estimated DwellingUnits Units EstimatedNew New Dwelling Thurston and UGAs, UGAs,2000-2006 2000-2006 Cities and ThurstonCounty CountyCities 01-02
02-03
03-04
04-05
05-06
Total
Bucoda
Jurisdiction City UGA Total
00-01 0 * 0
5 * 5
0 * 0
0 * 0
0 0 0
0 0 0
5 0 5
Average 1 0 1
Lacey
City UGA Total
140 120 260
190 370 560
100 370 480
170 400 570
490 420 910
810 100 910
1,910 1,780 3,680
320 295 615
Olympia
City UGA Total
0 140 150
150 140 290
100 140 240
140 300 440
130 160 290
270 50 320
780 950 1,730
130 160 290
Rainier
City UGA Total
0 0 0
0 0 5
15 0 20
10 0 10
10 5 15
35 0 35
70 5 80
12 2 14
Tenino
City UGA Total
5 0 5
5 5 10
15 0 20
0 5 0
15 0 15
5 0 5
35 10 40
5 1 6
Tumwater
City UGA Total
30 30 60
40 30 80
0 120 120
60 190 250
70 210 280
140 50 190
340 630 970
55 105 160
Yelm
City UGA Total
55 5 60
110 5 115
125 10 135
100 10 110
150 5 155
200 0 200
740 35 775
125 5 130
Total
0
5
10
0
0
0
15
4
1
Total
0
0
0
0
0
0
0
0
Nisqually Reservation 1
Total
0
0
5
0
0
5
10
1
240 300 0 630 1,170
500 560 0 680 1,740
360 650 5 960 1,980
460 910 0 810 2,180
870 810 0 910 2,590
1,450 200 5 710 2,370
3,880 3,430 10 4,700 12,020
645 570 1 785 2,005
Grand Mound UGA Chehalis Reservation
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Sources: Thurston Regional Planning Council; Bucoda, Lacey, Lacey, Olympia, Rainier,Rainier, Tenino,Tenino, Tumwater, Yelm, and Thurston County building Sources: Thurston Regional Planning Council; Bucoda, Olympia, Tumwater, Yelm, and Thurston County departments; Bureau of U.S. the Census; StateWashington Office of Financial Management. buildingU.S. departments; BureauWashington of the Census; State Office of Financial Management. Explanations: City and UGA may change over time to annexations. Data areData for April of each year. Explanations: City and boundaries UGA boundaries may change overdue time due to annexations. are for1 April 1 of each year. Note: Dwelling unit estimates incorporate housing starts data, however, the methodology also includes calibrating to U.S. Census and OFM data, Note: Dwelling unit estimates incorporate housing starts data, however, the methodology also includes calibrating to U.S. Census and includes demo� OFM data, demolitions, andand does not include home parks. For more County, information, documentation onincludes “Small Area Population Dwelling Unitreplacements Estimates” inand the activity appendixinofmanufactured Regional Benchmarks for Thurston TRPC, 2003. please see technical documentation on "Small Area Population and Dwelling Unit Estimates" in the appendix of Regional Benchmarks *Bucoda did not have an Urban Growth Area prior to 2004. for Thurston County, TRPC, 2003. 1 Data is for Thurston County portion of reservation only. did not Area. have an Urban Growtharea Areadesignated prior to 2004. 2 UGA*Bucoda - Urban Growth Unincorporated to be annexed into city limits over 20 years time to accommodate urban growth. 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. 1 Data is for Thurston County portion of reservation only. 2
UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth.
3
Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-12 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-7 Table III-7 Total Small Area Dwelling Unit Estimates by Type Total Small Area Dwelling Unit Estimates by Type Thurston County Cities and UGAs, 2000 and 2006 Thurston County Cities and UGAs, 2000 and 2006
Preliminary Estimate
2000 SingleFamily
Jurisdiction
2006
Manufactured Multifamily Home
SingleFamily
Multifamily
Manufactured Home
Bucoda
City UGA Total
195 * 195
0 * 0
40 * 40
200 0 200
0 0 0
45 0 45
Lacey
City UGA Total
7,620 8,310 15,930
4,650 1,510 6,160
890 1,190 2,080
9,180 9,550 18,730
4,970 1,950 6,910
920 1,290 2,210
Olympia
City UGA Total
10,680 2,780 13,460
8,330 850 9,190
730 170 900
11,340 3,570 14,910
8,460 1,000 9,460
720 180 900
Rainier
City UGA Total
415 55 470
35 0 35
100 10 110
480 60 540
40 0 40
105 15 120
Tenino
City UGA Total
430 45 470
95 5 95
95 15 105
455 50 505
90 5 95
100 15 120
Tumwater
City UGA Total
2,840 1,850 4,690
2,670 450 3,110
450 790 1,240
3,060 2,430 5,500
2,730 470 3,200
500 810 1,320
Yelm
City UGA Total
865 270 1,140
330 15 340
130 140 270
1,420 295 1,715
495 15 510
145 155 295
Grand Mound UGA
Total
90
35
190
100
35
205
Chehalis Reservation 1
Total
10
0
5
10
0
5
Nisqually Reservation 1
Total
205
0
5
210
5
5
23,050 13,400 215 18,770 55,430
16,100 2,870 0 900 19,870
2,430 2,510 10 6,410 11,360
26,140 16,050 220 22,870 65,280
16,780 3,470 5 950 21,210
2,530 2,680 10 6,960 12,190
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Sources: Thurston Regional Planning Council; Bucoda, Lacey,Lacey, Olympia, Rainier, Tenino,Tenino, Tumwater, Yelm, and Thurston CountyCounty building Sources: Thurston Regional Planning Council; Bucoda, Olympia, Rainier, Tumwater, Yelm, and Thurston departments; U.S. Bureau of the State Office of Financial Management. building departments; U.S.Census; BureauWashington of the Census; Washington State Office of Financial Management. Explanations: UGA isUGA unincorporated Urban Urban GrowthGrowth Area. UGA includeinclude those dwelling units outside the citythe limits within the longExplanations: is unincorporated Area.figures UGA figures those dwelling units outside city but limits but within term Urban Growth Management boundary. Cityboundary. and UGA boundaries mayboundaries change over time due toover annexations. are for April 1 of the long-term Urban Growth Management City and UGA may change time due toData annexations. Data areeach for year. Numbers may noteach add year. due to Numbers rounding.may not add due to rounding. April 1 of Note: Note: Dwelling unit estimates incorporate housing starts data, the methodology also includes calibrating to U.S.toCensus and OFM Dwelling unit estimates incorporate housing startshowever, data, however, the methodology also includes calibrating U.S. Census and data, includes demo� OFM data, includes demolitions, and does not include replacements and activity in manufactured home parks. For more information, documentation on “Small Area Population and Dwelling Unit Estimates” in the appendix of Regional Benchmarks for Thurston County, TRPC, 2003. please see technical documentation on "Small Area Population and Dwelling Unit Estimates" in the appendix of Regional Benchmarks for *Bucoda did notCounty have an, TRPC, Urban Growth 2003. Area prior to 2004. Thurston 1 Data is for Thurston County portion of reservation only. *Bucoda did not have an Urban Growth Area prior to 2004. 2 UGA -1 Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. Data is for Thurston County portion of reservation only. 3 Rural 2unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. 3
Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-13 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-8 III-8 Trends in Thurston County Housing Costs By of of Bedrooms Trends in Thurston County Housing Costs ByNumber Number Bedrooms 1990, 1995-2005 1990, 1995-2005 Total
1-2 Bedroom
3 Bedroom
Units
Avg. Sale
Year
Units Sold1
Sold
Price
Sold
1990
1,847
230
$57,290
1995
1,979
310
1996
2,073
1997
Units Avg. Sale
4 Bedroom
5+ Bedroom
Units
Avg. Sale
Units
Avg. Sale
Price
Sold
Price
Sold
Price
1,256
$90,128
326
$114,669
35
$153,337
$111,701
1,363
$132,229
283
$175,160
23
$183,056
283
$109,796
1,429
$136,966
336
$176,329
25
$200,710
2,233
283
$108,740
1,492
$140,943
416
$177,678
42
$214,136
1998
2,811
449
$101,553
1,801
$142,845
510
$185,005
54
$203,083
1999
2,828
381
$117,682
1,840
$147,628
547
$197,070
60
$209,904
2000
2,807
339
$112,393
1,808
$152,694
587
$205,285
73
$221,179
2001
2,898
374
$120,416
1,884
$156,220
580
$211,261
60
$222,577
2002
3,176
384
$124,519
2,100
$165,227
641
$213,671
51
$244,782
2003
3,576
423
$137,735
2,326
$178,883
751
$238,625
76
$276,101
2004
4,013
505
$158,526
2,586
$199,384
843
$263,552
79
$272,673
2005
4,470
567
$210,989
2,880
$240,963
937
$306,288
86
$323,960
Source: Source:Olympic OlympicMultiple MultipleListing ListingService. Service. 1 1 About 75 - 80 percent sales activity occurs MultipleOlympic Listing Service. Explanation: About of 75County - 80 percent of County salesthrough activityOlympic occurs through Multiple Listing Service.
Profile III-14 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Figure III-2 Distribution of Housing Sales by Number of Bedrooms Figure III-2 Thurston County, 2005 Distribution of Housing Sales by Number of Bedrooms Thurston County, 2005 5+ Bedrooms 2% 4 Bedrooms 21%
1-2 Bedrooms 13%
3 Bedrooms 64%
Source: Olympic Multiple Listing Service. Explanation: See Table III-8 for supporting data.
Source: Olympic Multiple Listing Service. Explanation: See Table III-8 for supporting data.
Profile III-15 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-9 Table III-9 Sample Jurisdiction,1990, 1990, 1995, 2000-2005 Sampof le Housing of HousingSales SalesActivity Activity by by Jurisdiction, 1995, 2000-2005 No. of Units Sold1
Area
Average
Average
Average
List Price
Sale Price
Days to Sale
Thurston County2 1990
1,847
$93,135
$91,568
81
1995
1,979
$137,317
$135,744
96
2000
2,807
$163,141
$160,606
84
2001
2,898
$166,415
$163,989
75
2002
3,176
$173,476
$171,360
63
2003
3,576
$190,304
$188,628
58
2004
4,013
$209,894
$209,165
52
2005
4,470
$252,833
$252,451
47
Olympia 1990 1995 2000 2001 2002 2003 2004 2005
460 479 751 740 813 766 879 927
$96,585 $164,540 $177,686 $178,163 $193,119 $209,384 $229,339 $286,393
$95,300 $176,404 $174,397 $175,627 $190,644 $206,995 $227,605 $284,052
72 84 74 62 58 56 49 48
Tumwater 1990 1995 2000 2001 2002 2003 2004 2005
134 128 210 204 173 284 339 365
$103,544 $146,337 $164,464 $170,635 $181,725 $191,034 $228,215 $262,687
$101,840 $142,510 $160,956 $167,846 $178,806 $189,534 $228,632 $262,078
71 75 84 78 59 54 53 54
Lacey 1990 1995 2000 2001 2002 2003 2004 2005
191 347 489 548 494 608 739 751
$79,387 $122,911 $143,607 $143,440 $153,958 $168,224 $194,556 $236,482
$78,622 $121,275 $142,209 $142,664 $153,204 $168,047 $194,668 $238,647
70 98 95 75 48 42 46 40
3
Source: Olympic Multiple Listing Service. Source: Olympic Multiple Listing Service. 1 Explanation: About 75 -activity 80 percent of through County sales activity occurs through Olympic Multiple Listing 1 About 75 - 80 percent of County sales occurs Olympic Multiple Listing Service. 2 2 Thurston Count includes all sales count wide. y y Thurston County includes all sales countywide. 3 3 includes well the City of Olympia. Olympia areaOlympia includes area Cooper Point,Cooper as well Point, as the as City of as Olympia.
Profile III-16 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Figure III-3 Figure III-3 Distribution of Housing Sales by Value Range DistributionThurston of Housing Sales 2005 by Value Range County, Thurston County, 2005 356
> $400K
Housing Value
$350-399K
222 361
$300-349K
750
$250-299.9K
1227
$200-249.9K $160-199.9K
980 253
$140-159.9K
292
Thurston Regional Planning Council
Housing and Real Estate Residential Development Subdivision Activity Residential subdivision activity is an indicator of future housing construction. There are three types of subdivisions in Thurston County, all of which involve the division of contiguous property for the purpose of sale, lease, or transfer of ownership: •
Large lot subdivisions divide property into two or more lots, any one of which is five acres in size or larger, but less than 40 acres in size. Occurs only in the unincorporated county.
•
Short Plat subdivisions are those that, because of the small number of lots created, or the lack of a need for public streets or other public facilities, can be approved in an expedited manner. Lots must be smaller than five acres in size. Occurs in all jurisdictions.
•
Long Plat subdivisions, on the other hand, are those which constitute a major subdivision of land and require a more extensive review. Occurs in all jurisdictions.
Large lot subdivision activity typically fluctuates significantly from year to year. In 2005, there were 180 new lots, compared to 120 in 2004. All large lot activity takes place in the unincorporated County. Short plat activity typically remains more constant. Most short plat subdivision activity takes place in unincorporated Thurston County, which includes Urban Growth Areas (UGAs) for every jurisdiction. In 2005, this accounted for 37 percent, or 95 of the total 255. Although significantly less than Thurston County, six other jurisdictions also saw short plat subdivision activity: Olympia, Lacey, Tumwater, Yelm, Rainier and Tenino. Long plat lot creation in Thurston County went up tremendously in 2005 from 2004 with 2,481 new lots in 2005, compared to 1,504 in 2004. Only 16 percent of subdivision activity took place in unincorporated Thurston County in 2005, compared to 41 percent
Profile III-1 The October 2006
Table III-1 provides a historical look at large lot, short plat, and long plat subdivision activity for Thurston County.
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
in 2004. This is partly because in 2005, Lacey saw a tremendous increase: 1,443 in 2005, compared to 460 in 2004. Lacey accounted for 58 percent of long plats in 2005. Although significantly less, four other jurisdictions also saw long plat subdivision activity: Tumwater, Yelm, Olympia, and Rainier. Dwelling Units Table III-2 shows census recording inventory of housing units type by jurisdiction.
Historical trends affecting housing units can be observed using decennial Census data, giving an idea of the level of growth the county has seen in the last 30 years. Between the 1970 and 2000 Census, over 58,000 units were added to the county, accounting for 67 percent of the county’s housing stock.
Table III-3 presents a current and historical summary of housing starts.
The expected number of homes to be built in the near future can be estimated by housing starts, which is the number of building permits that are taken out in a specified period of time. Over the past decade, the number of housing starts has varied, from a high of 2,754 in 1994, to a low of 1,532 in 2000. In 2005 the number of housing starts climbed back up to 2,713 units permitted, marking an economic recovery to the housing market in Thurston County. Where the housing starts are located also varies year to year. In 2001 the number of new dwellings permitted was roughly equal between the urban and rural areas, but just a year later the urban areas saw almost double the amount of units compared to the rural areas. In 2005 the new housing market was dominated by single-family homes, which accounted for 90 percent of the market share. Manufactured homes were still a strong component of rural growth, capturing 26 percent of the market share. Manufactured homes are growing in resale value due to their affordability, increasing size, and quality. Most of Thurston County’s jurisdictions include policies in their Comprehensive Plans that allow manufactured housing to be sited in residential neighborhoods on single-family lots as one strategy to meet affordable housing needs for the community.
Table III-4 breaks down annual housing starts by dwelling type, and Figure III-1 illustrates recent trends in single-family, multifamily, and manufactured home starts in Thurston County.
Multifamily homes also provide an affordable option for many families. In 2005, multifamily homes captured 30 percent of the market share in the cities and urban growth areas, where services are available to support higher density growth patterns. While housing starts give an indication of where growth is occurring, small area dwelling unit estimates provide complimentary information
Profile III-2 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
on growth patterns. Dwelling unit estimates incorporate housing starts; however, the methodology also includes calibrating to the U.S. Census and annual estimates of population and housing released by the State Office of Financial Management. Care is taken to account for all types of residential activity, including demolitions, family member units, accessory dwelling units, and replacements of manufactured homes. Of the new dwelling units built from April 1, 2005 to April 1, 2006, some 70 percent are located in the cities and urban growth areas, while the remaining 30 percent of the dwellings are located in rural areas. In 2000 it was estimated that 70 percent of homes in the county were located in the urban areas, and by 2005 that share had dropped slightly to 69 percent.
Table III-5 shows total small area dwelling unit estimates by jurisdiction for 20002006. Table III-6 provides an estimate of the number of new dwelling units in Thurston County. Maps 11 and 12 illustrate housing starts. Table III-7 shows small area dwelling unit estimates by housing type for 2000 and 2006.
Housing Costs Ownership Of the 4,470 homes sold in Thurston County in 2005, 3-bedroom homes made up the majority of sales, accounting for 64 percent. Smaller, one- and two-bedroom homes comprised 13 percent of sales, while four-bedroom homes made up 21 percent of sales. Five or more bedroom homes made up only 2 percent of home sales. Olympia continued to have the greatest number of housing sales within the cities in 2005, with 927 units sold. Home sales continued to increase in Lacey, from 739 in 2004 to 751 in 2005, and in Tumwater, from 339 to 365. Thurston County also showed an increase in housing sales, from 4,013 in 2004 to 4,470 in 2005. The average sale price increased significantly in each major jurisdiction, with Olympia seeing the greatest increase in sale price, almost $57,000, or 25 percent. The ability to purchase a home is a long standing concern of Thurston County residents. The Housing Affordability Index measures the ability of a middle income family to carry the mortgage payments on a median price home. When the index is 100, there is a balance between the family’s ability to pay and the cost. Higher indexes indicate housing is more affordable. First-time buyer index assumes the purchaser’s income is 70 percent of the median household income. Homes purchased by first-time buyers are 85 percent of area’s median price. All loans are assumed to be 30 year loans. All buyer index assumes 20 percent downpayment. First-time buyer index assumes 10 percent down. It is assumed 25 percent of income can be used
Profile III-3 The October 2006
Table III-8 and Figure III-2 show average housing sale prices by number of bedrooms. Table III-9 is a sample of housing sales activity by jurisdiction while Figure III3 shows the distribution of housing sales by value. Table III-10 is a sample of lot sales activity.
Table III-11 shows housing affordability in Thurston and surrounding counties for first quarter 2006. Table III-12 displays historical housing affordability index trends in Thurston and surrounding counties.
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
for principal and interest payments. An affordability index of 100 indicates that a balance exists between the family’s ability to pay and housing costs. An index of 126 would mean that a median income family has 26 percent more income than the bare minimum required to qualify for a mortgage on the median price home. An index of 80 would mean that a median income family has less income than the bare minimum required to qualify for a mortgage on the median price home. Thurston County’s housing affordability index was calculated at 111.6 for the first quarter of 2006, compared to 141.9 for the first quarter of 2005. The index for first time home buyers was 65.9 for the same time period, which was significantly lower than the 2005 index of 83.7. The decreases in both indexes show that access to affordable housing in Thurston County became more difficult in 2006 over 2005. Rentals The ratio of home ownership to home rental has been declining in Thurston County every decade since the 1960 Census. As cities strive to “densify” and resist urban sprawl, multifamily dwellings are encouraged. This will, in turn, drive down the owner/renter ratio. Other factors are at work as well, including increased home prices and greater community efforts to house those who may not be able to afford it unassisted. Table III-13 shows census data on trends in owner and renter housing, and Figure III-4 illustrates the trends in owner/renter housing. Table III-14 shows census data on the housing value of owner-occupied housing units. Table III-15 is a survey of average home and duplex rental costs in Lacey, Olympia, and Tumwater. Table III-16 shows average apartment rents and vacancy rates in Thurston County.
The percentage of renters in Thurston County has increased steadily since 1960. In 1960, 26 percent of County households lived in rental housing. By 2000 that number had grown to 33 percent of the households, although down from 35 percent in 1990. The metropolitan jurisdictions have a much greater number of renter households. Olympia, and Tumwater have close to a 50/50 split between owner occupied and renter occupied housing units in 2000. At the same time, Lacey and Yelm owner occupied units are approximately 55 percent and renter occupied 45 percent. Rental housing is important for young people just starting out, older people who need to sell their homes and move into smaller housing, single householders who cannot find purchase opportunities that are affordable on one income, and family households in transition due to any number of causes.
Table III-17 shows average apartment rents and vacancy rates in Thurston and surrounding counties.
Profile III-4 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Housing Authority of Thurston County The Housing Authority of Thurston County has been in the business of providing safe, decent, and affordable housing opportunities since 1971. The ultimate goal of the Housing Authority is to assist families and individuals to secure long-term, permanent housing. The Housing Authority offers a variety of rental assistance programs that are categorized as either “tenant-based” or “project-based.” Tenant Based rental assistance in the form of a voucher follows the client to any private market property that accepts rental assistance and that meets housing quality standards. Project Based rental assistance is attached to the rental unit and does not follow the client if they move from the assisted unit. For both categories of rental assistance, the household’s portion of the rent is based upon 30 percent of monthly adjusted income. The Housing Authority offers a variety of programs for emergency and transitional housing. The Authority owns and operates four units of emergency shelter in Tumwater. This program provides 30 to 90 days of shelter and supportive services for families while they locate permanent housing. Limited funds are available to prevent homelessness by providing assistance for first month’s rent, security deposits, or delinquent rent. The Authority operates two transitional housing programs providing one to two years of rental assistance and supportive services while families search for permanent housing and stable income. The Housing Rehabilitation Program offers low or no interest loans for repair and rehabilitation of owner occupied and rental properties within certain eligible areas in Thurston County. This program is designed to assist low- and moderate-income households. The Authority also operates a limited First-Time Home Buyer Counseling Program designed to assist individuals and families move to homeownership. The Program provides counseling, referral to available resources, and limited down payment assistance to eligible households.
Profile III-5 The October 2006
For more information about the Housing Authority’s programs visit www.hatc.org.
Profile III-6 The October 2006 2 6 1 1 0 3 17 30
Long Plat Subdivisions Lacey Olympia Rainier Tenino Tumwater Yelm Unincorporated Total Long Plat Subdivisions 122
1 0 0 0 0 0 8 9
0 7 9 0 2 1 1 55 75
38
2000
122
2 2 1 0 1 5 13 24
0 5 7 1 0 5 3 43 64
34
2001
130
0 3 0 0 0 3 16 22
0 12 10 0 0 6 1 46 75
33
2002
152
2 0 1 0 2 2 28 35
0 7 8 1 0 2 0 50 68
49
2003
134
6 1 0 0 3 2 18 30
0 3 12 1 0 3 1 53 73
31
2004
149
11 5 1 0 6 5 12 40
0 3 11 4 2 6 5 36 67
42
2005
1,469
133 243 19 7 0 76 585 1,063
4 19 6 0 0 9 2 156 196
210
1999
683
104 0 0 0 0 0 163 267
0 36 22 0 6 4 4 158 230
186
2000
967
35 65 15 0 51 130 340 636
0 19 20 2 0 13 8 130 192
139
2001
903
0 44 0 0 0 56 505 605
0 39 37 0 0 15 2 114 207
91
2002
1,808
171 0 6 0 89 86 1,071 1,423
0 17 18 4 0 7 0 131 177
208
2003
Number of New Lots Created
1,818
460 140 0 0 149 142 613 1,504
0 13 28 4 0 9 4 136 194
120
2004
2,916
1,443 294 14 0 189 156 385 2,481
0 38 65 10 6 13 28 95 255
180
2005
Sources: Thurston County Auditor; Sources: Thurston County Auditor; TRPC.TRPC. Explanations: Large lot subdivisions property intoortwo or lots, moreany lots,one anyofone of which fivein acres or larger, less 40inacres size. Plat Short Plat Explanations: Large lot subdivisions dividedivide property into two more which is five isacres sizein orsize larger, but lessbut than 40than acres size.inShort subdivisions subdivisions are those because small are those that, because of thethat, small numberofofthe lots cre�number of lots created, or the lack of a need for public streets or other public facilities, can be approved in an expedited manner; lotsacres mustinbesize. smaller than five acres in size. subdivisions those which constitute major subdivision of land and require a moreisextensive smaller than five Long Plat subdivisions areLong thosePlat which constitute aare major subdivision of land aand require a more extensive review. Bucoda tracked asreview. part of Bucoda is Thurston tracked asCounty part offor unincorporated Thurston County for long plat subdivisions. unincorporated long plat subdivisions.
143
1 7 3 0 0 3 1 55 70
Total New Lots
43
Short Plat Subdivisions Bucoda Lacey Olympia Rainier Tenino Tumwater Yelm Unincorporated Total Short Plat Subdivisions
1999
Large Lot Subdivisions Unincorporated
Subdivision Type Jurisdiction
Table III-1 Table III-1 Large Lot, Short Plat, and Long Plat Subdivision Activity Large Lot, Short Plat, and Long Plat Subdivision Activity Thurston 1998-2005 Thurston County, County, 1999-2005
Thurston Regional Planning Council
Chapter III: Housing and Real Estate
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-2 Table III-2 Total Housing Units by Jurisdiction, 1970-2000 Total Housing Units by Jurisdiction, 1970-2000
Jurisdiction Type
1970
BUCODA Single-family 143 Multifamily 0 Manf'd Homes 8 Total Units 151 LACEY Single-family 2,456 Multifamily 736 Manf'd Homes 86 Total Units 3,278 OLYMPIA Single-family 6,725 Multifamily 2,209 Manf'd Homes 242 Total Units 9,176 RAINIER Single-family 99 Multifamily 11 Manf'd Homes 10 Total Units 120 TENINO Single-family 289 Multifamily 36 Manf'd Homes 17 Total Units 342 TUMWATER Single-family 1,431 Multifamily 604 Manf'd Homes 78 Total Units 2,113 YELM Single-family 173 Multifamily 22 Manf'd Homes 13 Total Units 208 UNINCORPORATED Single-family 10,293 Multifamily 784 Manf'd Homes 1,381 Total Units 12,458 COUNTY TOTAL Single-family 21,609 Multifamily 4,402 Manf'd Homes 1,835 Other* 608 Total Units 28,454
Census Recording 1980 1990
2000
Percent Change 1970-80 1980-90 1990-00
181 0 32 213
177 0 34 211
196 0 33 229
27% 0% 300% 41%
-2% 0% 6% -1%
11% 0% -3% 9%
3,186 2,434 218 5,838
4,548 2,836 697 8,081
7,604 4,546 928 13,078
30% 231% 153% 78%
43% 17% 220% 38%
67% 60% 33% 62%
8,169 3,938 453 12,560
9,351 5,637 940 15,928
10,623 8,228 787 19,638
21% 78% 87% 37%
14% 43% 108% 27%
14% 46% -16% 23%
179 20 106 305
224 14 119 357
416 29 110 555
81% 82% 960% 154%
25% -30% 12% 17%
86% 107% -8% 55%
369 95 38 502
389 85 50 524
431 96 86 613
28% 164% 124% 47%
5% -11% 32% 4%
11% 13% 72% 17%
1,785 936 199 2,920
2,563 1,504 396 4,463
2,825 2,657 461 5,943
25% 55% 155% 38%
44% 61% 99% 53%
10% 77% 16% 33%
341 103 26 470
403 77 30 510
852 338 127 1,317
97% 368% 100% 126%
18% -25% 15% 9%
111% 339% 323% 158%
20,513 3,463 3,923 27,899
24,898 2,814 8,678 36,390
32,088 3,978 8,823 44,889
99% 342% 184% 124%
21% -19% 121% 30%
29% 41% 2% 23%
34,723 10,989 4,995 * 50,707
42,553 12,967 10,944 * 66,464
55,035 19,872 11,355 390 86,652
61% 150% 172% * 78%
23% 18% 119% * 31%
29% 53% 4% * 30%
Source: Census. Source:U.S. U.S.Bureau BureauofofCensus, Census,1970, 1970,1980, 1980,1990, 1990,and and2000 2000 Census. Explanations: *Other *Otherwas wasdefined definedininthe the1970 1970 Census "migratory seasonal structures which Bureau of the Explanations: Census asas “migratory andand seasonal structures which the the Bureau of the Census excludes from its year-round classification.” In the 1980 these structures incorporated into the Census excludes from its year-round classification." Inand the 1990 1980 Census, and 1990 Census, these were structures were incorporated Manufactured Home category “Mobile trailer, other.” In other." the 2000InCensus, there was athere separate category into the Manufactured Home as category ashome, "Mobile home, trailer, the 2000 Census, washousing a separate defined “Boat, RV, van, etc.” housingascategory defined as "Boat, RV, van, etc."
Profile III-7 The October 2006
Profile III-8 The October 2006 78 10 88 5
63 23 86 5
City UGA Total
Total
Yelm
Total 898 267 1 856 2,022
2,754
1
1,553 268 0 933
0
9 0 9
2,263
1,126 341 0 796
0
0
5
96 3 99
46 64 110
15 0 15
23 1 24
398 89 487
539 179 718
1996 4 0 4
1,862
743 384 0 735
0
0
11
66 11 77
54 50 104
14 1 15
18 3 21
252 126 378
335 182 517
1997 5 0 5
2,161
923 422 0 816
0
0
7
114 10 124
114 64 178
5 1 6
8 0 8
240 94 334
437 246 683
1998 1 0 1
2,152
936 423 0 793
0
0
1
90 8 98
84 99 183
9 1 10
2 0 2
446 155 601
304 159 463
1999 3 0 3
1,532
344 499 0 689
0
0
3
65 9 74
42 35 77
10 1 11
16 1 17
112 135 247
96 315 411
2000 3 0 3
1,736
465 423 0 848
0
0
7
110 6 116
60 44 104
6 1 7
2 1 3
120 160 280
164 204 368
2001 1 0 1
1,619
639 407 0 573
0
0
4
136 7 143
42 80 122
21 0 21
12 2 14
234 72 306
193 242 435
2002 2 0 2
2,543
834 839 0 870
0
0
6
211 13 224
76 183 259
10 0 10
9 1 10
158 284 442
368 352 720
2003 1 0 1
2,435
666 822 1 946
0
1
3
63 5 68
92 222 314
26 1 27
7 0 7
155 168 323
322 423 745
2004 1 0 1
2,713
1,528 300 3 882
3
0
4
216 5 221
156 90 246
13 0 13
37 1 38
273 63 336
832 137 969
2005
10,655 5,395 5 9,737 25,792
4
1
61
1,308 110 1,418
1,257 1,051 2,308
150 11 161
156 14 170
3,070 1,439 4,509
4,676 2,709 7,385
38 0 38
Total
888 450 0 811 2,149
0
0
5
109 9 118
105 88 192
13 1 13
13 1 14
256 120 376
390 226 615
3 0 3
Average
Sources: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County building departments Sources: Thurston Regional Planning Bucoda, Lacey, Olympia, Tumwater, Includes Yelm, and departments. Explanations: Count of dwelling unitsCouncil; permitted. Assumes constant 2000 Rainier, City andTenino, UGA boundaries. allThurston permittedCounty housingbuilding units - may not reflect actual housing units built. Housing starts Explanations: of dwelling permitted. 2000 and UGA Includes all permitted housing units - contact may notTRPC reflectand actual housing units built. Housing are reported for Count each calendar year.units Demolitions andAssumes reissued constant permits are notCity included in thisboundaries. table. For further details on housing starts, please ask for a specialized query. starts are reported for each calendar year. Demolitions and reissued permits are not included in this table. For further details on housing starts, please contact TRPC and ask for a specialized query. 11 Data is is for for Thurston Thurston County portion Data portion of of reservation reservationonly. only. 2 2 UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. 3 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. Maps 11 11 and and 12 12 illustrate illustrate housing Maps housing starts. starts.
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Nisqually Reservation
Chehalis Reservation
1
60 52 112
431 68 499
City UGA Total
Tumwater
0
11 2 13
10 3 13
City UGA Total
Tenino
0
14 1 15
8 3 11
City UGA Total
Rainier
Total
160 56 216
522 37 559
City UGA Total
Olympia
1
570 141 711
516 129 645
City UGA Total
Lacey
Grand Mound UGA
5 0 5
3 0 3
1995
City UGA Total
1994
Bucoda
Jurisdiction
Table III-3 Table III-3 Housing Starts, Thurston Citiesand and UGAs, 1994-2005 g Starts, Thurston County County Cities UGAs, 1994-2005 Housin
Thurston Regional Planning Council
Chapter III: Housing and Real Estate
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-4 III-4 Table HousingStarts Starts by by Dwelling Dwelling Type, Housing Type,2005 2005 SingleFamily
Jurisdiction
Multifamily
Manufactured Home
Total
Bucoda
City UGA Total
1 0 1
0 0 0
0 0 0
1 0 1
Lacey
City UGA Total
832 112 944
0 4 4
0 21 21
832 137 969
Olympia
City UGA Total
247 58 305
26 5 31
0 0 0
273 63 336
Rainier
City UGA Total
35 1 36
0 0 0
2 0 2
37 1 38
Tenino
City UGA Total
11 0 11
0 0 0
2 0 2
13 0 13
Tumwater
City UGA Total
94 81 175
47 3 50
15 6 21
156 90 246
Yelm
City UGA Total
214 1 215
0 0 0
2 4 6
216 5 221
Grand Mound UGA
Total
4
0
0
4
Chehalis Reservation 1
Total
0
0
0
0
Nisqually Reservation 1
Total
0
3
0
3
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
1,434 257 0 776 2,467
73 12 3 3 91
21 31 0 103 155
1,528 300 3 882 2,713
Source: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County Source: Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County buildingThurston departments. building departments. Explanations: Count of dwelling units permitted. Assumes constant 2000 City and UGA boundaries. Includes all permitted housing units -Count may not reflect actual unitsAssumes built. Housing starts areCity reported for each calendar year. Demolitions Explanations: of dwelling unitshousing permitted. constant 2000 and UGA boundaries. Includes all permitted and reissued not included in this table. For further details onare housing starts, contact TRPC and ask for aand housing units -permits may notare reflect actual housing units built. Housing starts reported forplease each calendar year. Demolitions specialized query. reissued permits are not included in this table. For further details on housing starts, please contact TRPC and ask for a specialized 1 Data is for Thurston County portion of reservation only. query. 1 2 UGA Urban Growth Area.portion Unincorporated area only. designated to be annexed into city limits over 20 years time to accommodate Data is -for Thurston County of reservation 2 urban- growth. UGA Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. accommodate urban growth. 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-9 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
3,000 2,500 2,000 1,500 1,000 500
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
0 1994
Dwelling Units Permitted
Figure III-1 Figure III-1 Thurston County Housing Starts, 1994-2005 Thurston County Housing Starts, 1994-2005
Year
Single-Family Units
Multifamily Units
Manufactured Homes
Source: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston County building departments. Source: Thurston Regional Planning Council; Bucoda, Lacey, Olympia, Rainier, Tenino, Tumwater, Yelm, and Thurston Explanation: See Table III-4 for select supporting data and notes; full data are available from TRPC.
County building departments.
Explanation: See Table III-4 for select supporting data and notes; full data are available from TRPC.
Profile III-10 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-5 III-5 Unit Estimates Total Small AreaTable Dwelling Total Small Area Dwelling Unit Estimates Thurston County Cities and UGAs, 2000-2006 Thurston County Cities and UGAs, 2000-2006
Jurisdiction
2000
2001
2002
2003
2004
2005
2006
Bucoda
City UGA Total
235 * 235
240 * 240
240 * 240
245 * 245
240 0 240
245 0 245
245 0 245
Lacey
City UGA Total
13,160 11,010 24,170
13,300 11,130 24,430
13,490 11,500 24,990
13,590 11,870 25,470
13,770 12,270 26,040
14,260 12,690 26,950
15,070 12,790 27,860
Olympia
City UGA Total
19,740 3,810 23,540
19,740 3,950 23,690
19,890 4,090 23,980
19,990 4,230 24,220
20,130 4,540 24,660
20,260 4,700 24,960
20,520 4,750 25,280
Rainier
City UGA Total
550 65 615
550 65 615
550 70 620
570 70 640
575 70 645
590 75 665
620 75 700
Tenino
City UGA Total
615 60 675
620 60 680
625 65 690
645 65 710
630 70 700
645 70 710
650 70 715
Tumwater
City UGA Total
5,950 3,090 9,040
5,990 3,120 9,100
6,030 3,150 9,180
6,030 3,270 9,300
6,090 3,460 9,550
6,160 3,670 9,830
6,300 3,720 10,020
Yelm
City UGA Total
1,325 425 1,750
1,380 430 1,810
1,485 435 1,925
1,610 445 2,055
1,710 455 2,165
1,860 460 2,320
2,060 460 2,520
Grand Mound UGA
Total
315
320
320
330
335
335
335
Chehalis Reservation 1
Total
15
15
15
15
15
15
15
1
Total
210
210
210
215
215
215
220
41,580 18,780 225 26,080 86,650
41,820 19,070 225 26,700 87,820
42,320 19,630 225 27,390 89,560
42,680 20,280 225 28,350 91,540
43,140 21,190 230 29,160 93,720
44,010 22,000 230 30,070 96,310
45,460 22,210 235 30,780 98,680
Nisqually Reservation
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Sources: Thurston ThurstonRegional RegionalPlanning PlanningCouncil; Council;Bucoda, Bucoda,Lacey, Lacey,Olympia, Olympia, Rainier, Tenino, Tumwater, Yelm, Thurston Sources: Rainier, Tenino, Tumwater, Yelm, andand Thurston Countybuilding buildingdepartments; departments;U.S. U.S.Bureau Bureauofofthe theCensus; Census;Washington Washington State Office Financial Management. County State Office of of Financial Management. Cityand andUGA UGAboundaries boundariesmay maychange changeover overtime timedue duetotoannexations. annexations.Data Data April 1 of each year. Explanations: City Explanations: areare forfor April 1 of each year. Numbers Numbers may not add due to rounding. may not add due to rounding. Note: Dwelling Dwellingunit unitestimates estimatesincorporate incorporatehousing housingstarts startsdata, data,however, however,thethe methodology also includes calibrating U.S. Note: methodology also includes calibrating to to U.S. Censusand andOFM OFMdata, data,includes includesdemolitions, demolitions,and anddoes doesnot notinclude includereplacements replacementsand and activity manufactured home parks.For Census activity in in manufactured home parks. more information, pleaseplease see technical documentation on “Small Area Population and Dwelling Unit Estimates” in the appendix For more information, see technical documentation on "Small Area Population and Dwelling Unit Estimates" in the ofappendix RegionalofBenchmarks for Thurston TRPC, 2003. Regional Benchmarks forCounty, Thurston County, TRPC, 2003. *Bucoda *Bucodadid didnot nothave haveananUrban UrbanGrowth GrowthArea Areaprior priortoto2004. 2004. 1 Data is for Thurston County portion of reservation only. 1 Data is for Thurston County portion of reservation only. 2 UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate 2 UGAgrowth. - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to urban 3accommodate urban growth. Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-11 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-6 Table III-6 Estimated DwellingUnits Units EstimatedNew New Dwelling Thurston and UGAs, UGAs,2000-2006 2000-2006 Cities and ThurstonCounty CountyCities 01-02
02-03
03-04
04-05
05-06
Total
Bucoda
Jurisdiction City UGA Total
00-01 0 * 0
5 * 5
0 * 0
0 * 0
0 0 0
0 0 0
5 0 5
Average 1 0 1
Lacey
City UGA Total
140 120 260
190 370 560
100 370 480
170 400 570
490 420 910
810 100 910
1,910 1,780 3,680
320 295 615
Olympia
City UGA Total
0 140 150
150 140 290
100 140 240
140 300 440
130 160 290
270 50 320
780 950 1,730
130 160 290
Rainier
City UGA Total
0 0 0
0 0 5
15 0 20
10 0 10
10 5 15
35 0 35
70 5 80
12 2 14
Tenino
City UGA Total
5 0 5
5 5 10
15 0 20
0 5 0
15 0 15
5 0 5
35 10 40
5 1 6
Tumwater
City UGA Total
30 30 60
40 30 80
0 120 120
60 190 250
70 210 280
140 50 190
340 630 970
55 105 160
Yelm
City UGA Total
55 5 60
110 5 115
125 10 135
100 10 110
150 5 155
200 0 200
740 35 775
125 5 130
Total
0
5
10
0
0
0
15
4
1
Total
0
0
0
0
0
0
0
0
Nisqually Reservation 1
Total
0
0
5
0
0
5
10
1
240 300 0 630 1,170
500 560 0 680 1,740
360 650 5 960 1,980
460 910 0 810 2,180
870 810 0 910 2,590
1,450 200 5 710 2,370
3,880 3,430 10 4,700 12,020
645 570 1 785 2,005
Grand Mound UGA Chehalis Reservation
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Sources: Thurston Regional Planning Council; Bucoda, Lacey, Lacey, Olympia, Rainier,Rainier, Tenino,Tenino, Tumwater, Yelm, and Thurston County building Sources: Thurston Regional Planning Council; Bucoda, Olympia, Tumwater, Yelm, and Thurston County departments; Bureau of U.S. the Census; StateWashington Office of Financial Management. buildingU.S. departments; BureauWashington of the Census; State Office of Financial Management. Explanations: City and UGA may change over time to annexations. Data areData for April of each year. Explanations: City and boundaries UGA boundaries may change overdue time due to annexations. are for1 April 1 of each year. Note: Dwelling unit estimates incorporate housing starts data, however, the methodology also includes calibrating to U.S. Census and OFM data, Note: Dwelling unit estimates incorporate housing starts data, however, the methodology also includes calibrating to U.S. Census and includes demo� OFM data, demolitions, andand does not include home parks. For more County, information, documentation onincludes “Small Area Population Dwelling Unitreplacements Estimates” inand the activity appendixinofmanufactured Regional Benchmarks for Thurston TRPC, 2003. please see technical documentation on "Small Area Population and Dwelling Unit Estimates" in the appendix of Regional Benchmarks *Bucoda did not have an Urban Growth Area prior to 2004. for Thurston County, TRPC, 2003. 1 Data is for Thurston County portion of reservation only. did not Area. have an Urban Growtharea Areadesignated prior to 2004. 2 UGA*Bucoda - Urban Growth Unincorporated to be annexed into city limits over 20 years time to accommodate urban growth. 3 Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. 1 Data is for Thurston County portion of reservation only. 2
UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth.
3
Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-12 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-7 Table III-7 Total Small Area Dwelling Unit Estimates by Type Total Small Area Dwelling Unit Estimates by Type Thurston County Cities and UGAs, 2000 and 2006 Thurston County Cities and UGAs, 2000 and 2006
Preliminary Estimate
2000 SingleFamily
Jurisdiction
2006
Manufactured Multifamily Home
SingleFamily
Multifamily
Manufactured Home
Bucoda
City UGA Total
195 * 195
0 * 0
40 * 40
200 0 200
0 0 0
45 0 45
Lacey
City UGA Total
7,620 8,310 15,930
4,650 1,510 6,160
890 1,190 2,080
9,180 9,550 18,730
4,970 1,950 6,910
920 1,290 2,210
Olympia
City UGA Total
10,680 2,780 13,460
8,330 850 9,190
730 170 900
11,340 3,570 14,910
8,460 1,000 9,460
720 180 900
Rainier
City UGA Total
415 55 470
35 0 35
100 10 110
480 60 540
40 0 40
105 15 120
Tenino
City UGA Total
430 45 470
95 5 95
95 15 105
455 50 505
90 5 95
100 15 120
Tumwater
City UGA Total
2,840 1,850 4,690
2,670 450 3,110
450 790 1,240
3,060 2,430 5,500
2,730 470 3,200
500 810 1,320
Yelm
City UGA Total
865 270 1,140
330 15 340
130 140 270
1,420 295 1,715
495 15 510
145 155 295
Grand Mound UGA
Total
90
35
190
100
35
205
Chehalis Reservation 1
Total
10
0
5
10
0
5
Nisqually Reservation 1
Total
205
0
5
210
5
5
23,050 13,400 215 18,770 55,430
16,100 2,870 0 900 19,870
2,430 2,510 10 6,410 11,360
26,140 16,050 220 22,870 65,280
16,780 3,470 5 950 21,210
2,530 2,680 10 6,960 12,190
Total Cities Total UGAs2 Total Reservations1 Rural Unincorporated County3 Thurston County Total
Sources: Thurston Regional Planning Council; Bucoda, Lacey,Lacey, Olympia, Rainier, Tenino,Tenino, Tumwater, Yelm, and Thurston CountyCounty building Sources: Thurston Regional Planning Council; Bucoda, Olympia, Rainier, Tumwater, Yelm, and Thurston departments; U.S. Bureau of the State Office of Financial Management. building departments; U.S.Census; BureauWashington of the Census; Washington State Office of Financial Management. Explanations: UGA isUGA unincorporated Urban Urban GrowthGrowth Area. UGA includeinclude those dwelling units outside the citythe limits within the longExplanations: is unincorporated Area.figures UGA figures those dwelling units outside city but limits but within term Urban Growth Management boundary. Cityboundary. and UGA boundaries mayboundaries change over time due toover annexations. are for April 1 of the long-term Urban Growth Management City and UGA may change time due toData annexations. Data areeach for year. Numbers may noteach add year. due to Numbers rounding.may not add due to rounding. April 1 of Note: Note: Dwelling unit estimates incorporate housing starts data, the methodology also includes calibrating to U.S.toCensus and OFM Dwelling unit estimates incorporate housing startshowever, data, however, the methodology also includes calibrating U.S. Census and data, includes demo� OFM data, includes demolitions, and does not include replacements and activity in manufactured home parks. For more information, documentation on “Small Area Population and Dwelling Unit Estimates” in the appendix of Regional Benchmarks for Thurston County, TRPC, 2003. please see technical documentation on "Small Area Population and Dwelling Unit Estimates" in the appendix of Regional Benchmarks for *Bucoda did notCounty have an, TRPC, Urban Growth 2003. Area prior to 2004. Thurston 1 Data is for Thurston County portion of reservation only. *Bucoda did not have an Urban Growth Area prior to 2004. 2 UGA -1 Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. Data is for Thurston County portion of reservation only. 3 Rural 2unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries. UGA - Urban Growth Area. Unincorporated area designated to be annexed into city limits over 20 years time to accommodate urban growth. 3
Rural unincorporated county is the portion of the unincorporated county that lies outside UGA and Reservation boundaries.
Profile III-13 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-8 III-8 Trends in Thurston County Housing Costs By of of Bedrooms Trends in Thurston County Housing Costs ByNumber Number Bedrooms 1990, 1995-2005 1990, 1995-2005 Total
1-2 Bedroom
3 Bedroom
Units
Avg. Sale
Year
Units Sold1
Sold
Price
Sold
1990
1,847
230
$57,290
1995
1,979
310
1996
2,073
1997
Units Avg. Sale
4 Bedroom
5+ Bedroom
Units
Avg. Sale
Units
Avg. Sale
Price
Sold
Price
Sold
Price
1,256
$90,128
326
$114,669
35
$153,337
$111,701
1,363
$132,229
283
$175,160
23
$183,056
283
$109,796
1,429
$136,966
336
$176,329
25
$200,710
2,233
283
$108,740
1,492
$140,943
416
$177,678
42
$214,136
1998
2,811
449
$101,553
1,801
$142,845
510
$185,005
54
$203,083
1999
2,828
381
$117,682
1,840
$147,628
547
$197,070
60
$209,904
2000
2,807
339
$112,393
1,808
$152,694
587
$205,285
73
$221,179
2001
2,898
374
$120,416
1,884
$156,220
580
$211,261
60
$222,577
2002
3,176
384
$124,519
2,100
$165,227
641
$213,671
51
$244,782
2003
3,576
423
$137,735
2,326
$178,883
751
$238,625
76
$276,101
2004
4,013
505
$158,526
2,586
$199,384
843
$263,552
79
$272,673
2005
4,470
567
$210,989
2,880
$240,963
937
$306,288
86
$323,960
Source: Source:Olympic OlympicMultiple MultipleListing ListingService. Service. 1 1 About 75 - 80 percent sales activity occurs MultipleOlympic Listing Service. Explanation: About of 75County - 80 percent of County salesthrough activityOlympic occurs through Multiple Listing Service.
Profile III-14 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Figure III-2 Distribution of Housing Sales by Number of Bedrooms Figure III-2 Thurston County, 2005 Distribution of Housing Sales by Number of Bedrooms Thurston County, 2005 5+ Bedrooms 2% 4 Bedrooms 21%
1-2 Bedrooms 13%
3 Bedrooms 64%
Source: Olympic Multiple Listing Service. Explanation: See Table III-8 for supporting data.
Source: Olympic Multiple Listing Service. Explanation: See Table III-8 for supporting data.
Profile III-15 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Table III-9 Table III-9 Sample Jurisdiction,1990, 1990, 1995, 2000-2005 Sampof le Housing of HousingSales SalesActivity Activity by by Jurisdiction, 1995, 2000-2005 No. of Units Sold1
Area
Average
Average
Average
List Price
Sale Price
Days to Sale
Thurston County2 1990
1,847
$93,135
$91,568
81
1995
1,979
$137,317
$135,744
96
2000
2,807
$163,141
$160,606
84
2001
2,898
$166,415
$163,989
75
2002
3,176
$173,476
$171,360
63
2003
3,576
$190,304
$188,628
58
2004
4,013
$209,894
$209,165
52
2005
4,470
$252,833
$252,451
47
Olympia 1990 1995 2000 2001 2002 2003 2004 2005
460 479 751 740 813 766 879 927
$96,585 $164,540 $177,686 $178,163 $193,119 $209,384 $229,339 $286,393
$95,300 $176,404 $174,397 $175,627 $190,644 $206,995 $227,605 $284,052
72 84 74 62 58 56 49 48
Tumwater 1990 1995 2000 2001 2002 2003 2004 2005
134 128 210 204 173 284 339 365
$103,544 $146,337 $164,464 $170,635 $181,725 $191,034 $228,215 $262,687
$101,840 $142,510 $160,956 $167,846 $178,806 $189,534 $228,632 $262,078
71 75 84 78 59 54 53 54
Lacey 1990 1995 2000 2001 2002 2003 2004 2005
191 347 489 548 494 608 739 751
$79,387 $122,911 $143,607 $143,440 $153,958 $168,224 $194,556 $236,482
$78,622 $121,275 $142,209 $142,664 $153,204 $168,047 $194,668 $238,647
70 98 95 75 48 42 46 40
3
Source: Olympic Multiple Listing Service. Source: Olympic Multiple Listing Service. 1 Explanation: About 75 -activity 80 percent of through County sales activity occurs through Olympic Multiple Listing 1 About 75 - 80 percent of County sales occurs Olympic Multiple Listing Service. 2 2 Thurston Count includes all sales count wide. y y Thurston County includes all sales countywide. 3 3 includes well the City of Olympia. Olympia areaOlympia includes area Cooper Point,Cooper as well Point, as the as City of as Olympia.
Profile III-16 The October 2006
Chapter III: Housing and Real Estate
Thurston Regional Planning Council
Figure III-3 Figure III-3 Distribution of Housing Sales by Value Range DistributionThurston of Housing Sales 2005 by Value Range County, Thurston County, 2005 356
> $400K
Housing Value
$350-399K
222 361
$300-349K
750
$250-299.9K
1227
$200-249.9K $160-199.9K
980 253
$140-159.9K
292
