In some more recent housing studies, RKG has also
begun looking at homeownership and rental needs
from the perspective of prospective buyers or tenants
and what their needs are based on predominate
household typologies. As we explore the demographic
and household composition data in Nashua, there may
be an opportunity to reframe the housing analysis
from the perspective of current and future residents
and how housing does (or does not) meet their needs.
Through this analytical process, we may find household
typologies that desire different housing types than what
currently exist in the city today.
TASK 4: Gap Analysis
Task 4.1 Market Gap Analysis
RKG will compare the results of the supply and demand
analyses to identify market gaps (demand segments
that are underserved based on available supply)
within the city. The market gap analysis will present
current gaps and projected gaps based on forecasts in
new housing development and changes in demand
from growing/changing population. The gap analysis
will be completed for both rental and owner housing.
The results of this assessment will further shape the
recommendations, as housing demand varies by income
level and age group.
RKG will integrate HUD standards of affordability
into the gap analysis to provide the City with detailed
information on housing gaps at various income levels.
This will include calculations and comparisons of
household incomes to monthly rent costs, as well as
household incomes to mortgage costs for owners.
The resulting gap analysis will inform strategies
and recommendations which will fill those gaps and
encourage housing to meet the needs of current and
future residents.
RKG Associates
APPROACH
Task 4.2 Local Capacity for Housing
Production
As part of the gap analysis task, RKG will conduct
an assessment of local housing organization and City
department capacity. RKG will categorize each entity
by their focus (rental, ownership, affordable, market
rate, mixed-income, etc.), identify programs available
through each entity, and create a gap matrix that
will be used in the formulation of strategies for the
future. We will also review and catalogue housing
finance programs, their level of funding, availability/
competitiveness, and what potential housing barriers
they can help address.
Task 4.3 Rehab Gap Analysis
RKG will work with the City to quantify the universe
of housing units that may be in need of rehabilitation
assistance. This will involve quantifying the number of
housing units in Nashua by year built and by residential
typology to identify older housing units that may need
rehab assistance. Based on the year built, RKG will
assign dollar values for typical rehabilitation requests
such as new roofs, lead abatement, porch repairs, etc.
We will work closely with City staff to better understand
current requests from the program, dollar values, and
assess potential unmet need, This analysis will feed into
the housing strategies and prioritization of the City’s
limited housing dollars.
TASK 5: Barrier Analysis
RKG will complete a barrier analysis that looks at local
zoning, state and local funding programs, and the cost
of bringing new housing into the market to identify
where future policy changes could unlock opportunities
for housing, The funding and development barriers
analysis will be done separately for rental and
ownership housing as different criteria may be used
to determine public subsidies or lending for private
development. In addition to available local data sources,
RKG will supplement with interviews of City staff,
lending institutions, and local developers.
