Issues and Opportunities
Financial Resources of Homebuyers and Renters
ASSOCIATES INC
Supply and Demand for Affordable Homeownership Units, City of Nashua
Source: HUD 2020, ACS 2018
THERE ARE MORE POTENTIAL BUYERS IN HIGHER INCOME BRACKETS 10,000
THAN THERE ARE HOUSING UNITS THAT MATCH THEIR PRICE POINTS.
For households earning at or below 30% of AMI, there are 769 9,000 8,956
more households than there are housing units. Only 10% of owner-
occupied units are valued at less than $99,430. Many of these
lower priced units may need rehabilitation or interior upgrades to 8,000
make the units livable and marketable to todays homebuyers. The
neighborhoods these units are in may also need attention from the 6,997
City for clean up efforts, code enforcement, and infrastructure 7,000
investments.
Units priced between 50-80% of AMI account for 34% of all owner » 01000
units, yet only 24% of owner households have incomes that fall =
within this grouping. There is a net surplus of 1,759 units indicating > 5.000
. . . . . , ec 4, 4,661
higher income households are likely buying down in Nashua’s 3 , A403
market since overall vacancy for homeowner units is extremely 38 ‘
low. 4,000
3,405
Households earning more than 100% of AMI account for 66% of all
owner households, with the supply of units priced to meet the 3,000
demand accounting for 61% of the units. There is a deficit of 990 2245 2,939
units for households above 100% AMI. This indicates a potential 2,009 1882
market for new higher priced housing that could ease the 2,000
competition for moderate income units. 1,240
1,000 589 560
a
30% AMI 50% AMI 80% AMI 100% AMI 120% AMI Above 120% AMI
mw Owner Households Units Affordable at AMI
Nashua Housing Study - 40
