Housing Stock Residential Type by Units in Structure AAG
Source: City of Nashua
SINGLE-FAMILY HOUSING
UTILIZES A LARGE PERCENTAGE
OF NASHUA'S LAND.
Residential Land Area to
Unit Count Comparison
ff fg \
Units in Structure
Source: City of Nashua Assessor Database,
RKG Associates _
-Unl
% of % of 2- Units
Structure Type Land Area_ Res. Units a aera
4-Unit 63% 50% .
Financial Resources of Homebuyers and Renters
THE MARKET FOR AFFORDABLE
RENTAL UNITS IS TIGHT AT THE LOW
END OF THE INCOME SPECTURM.
For households at or below 30% of AMI,
there are 2,943 more households than
available affordably priced units
¢ The gap between demand and supply for
households above 100% AMI is 3,168
units
¢ The lack of higher priced rental units in
Nashua puts downward pressure on the
supply of housing priced for lower income
households
Housing Units
7,000
6,000
Household Composition
Change in
Households
2013-2018
Source: ACS 2013,
2018
Households by
Size and Tenure
2013-2018
Source: ACS 2013, 2018
Households by
Age of Householder
2013-2018
Source: ACS 2013, 2018
HOUSEHOLDS ARE INCREASING AT A FASTER RATE
THAN THE POPULATION.
HOUSEHOLD GROWTH OUTPACING POPULATION
GROWTH.
¢ Nashua added just under 1,500 new households over the five-
year period
* Householders living alone accounted for 37% of that growth
Accommodating Future Growth
2030 Projections if 2018 Household
Composition Held Constant
Source: EMSI, ACS 2013, 2018, RKG Associates
HH Size
1-person
2-person
3-person
4-person
5-or-more person
Total
HHs
1,446
1,648
723
604
348
4,769
% of Total
30.3%
34.6%
15.2%
12.7%
7.3%
100%
2030 Projections if Trends Continued
Based on Changes from 2013-2018
Source: EMSI, ACS 2013, 2018, RKG Associates
Income
Median Household Income
Source: ACS 2018
Median HH Income
GED S0 - $44,000
GED 344.001 - $71,000
GED $71,001 - $96,500
GERD $96,501 - $157,000
ASSOCIATES INC
Median Household Income by Race/Ethnicity
Source: ACS 2018
$100,000
$92,004 2018 Income
$90,000
$81,552
$80,000
$70,000
$60,000
$50,000
$40,000 $34,511 $33,275
$30,000
$20,000
$10,000
$0
White Alone Black or African Asian Hispanic or Latino
American
HOUSING TRUST FUND R-21-118
Sarah Marchant, AICP
Community Development Division Director
Community Development Department
Aati Nashua
Special Board of Aldermen 04-08-2021 Page 8
Chairman Dowd
Thank you very much. Is there anyone else that would like to speak in favor of this Resolution? Seeing no one
else, Testimony in Opposition to R-21-1187
TESTIMONY IN OPPOSITION - None
TESTIMONY IN FAVOR - None
TESTIMONY IN OPPOSITION - None
Chairman Dowd closed the public hearing on R-21-118 at 7:27 p.m.
ADJOURNMENT
MOTION BY ALDERMAN O’BRIEN THAT THE APRIL 8, 2021, SPECIAL MEETING OF THE BOARD OF
ALDERMEN BE ADJOURNED BY ROLL CALL
Special Board of Aldermen 04-08-2021 Page 7
Alderman Dowd
Any other Aldermen with a question? Seeing none, I'll go right into the Public Hearing.
PUBLIC HEARING
R-21-118 ESTABLISHING A HOUSING EXPENDABLE TRUST FUND FUNDED BY APPROPRIATIONS
AND MAKING A SUPPLEMENTAL APPROPRIATION OF $30,000 INTO THE EXPENDABLE
TRUST FUND
TESTIMONY IN FAVOR
Aron Dibacco Yes, can you hear me?
Chairman Dowd
Thank you.
Special Board of Aldermen 04-08-2021 Page 6
Chairman Dowd
Are there any questions on what was presented by the Aldermen? Alderman Wilshire?
President Wilshire
Thank you. Through you, Mr. Chair, to Director Marchant. In your Memo to the Board in January, you
talked about a termination fee. Is that something, if it is not extended could go into that fund.
Director Marchant
Special Board of Aldermen 04-08-2021 Page 5
time homebuyers. We need these people to fulfill all of the amazing jobs that are open in the City and we
need housing options. Those two different age groups are competing for the exact same product; they
don’t want giant houses, they want smaller houses with accessibility, great locations. So that is making that
market incredibly tight.
