Mid-Columbia Workforce Housing Summit
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Transcript of Mid-Columbia Workforce Housing Summit
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Mid-Columbia Workforce Housing Summit
April 6, 2007
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Government, Agriculture, Tourism…
Mid-Columbia 2005 Employment and Payroll
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0%
Government
Agriculture
Leisure and Hospitality
Retail Trade
Educational and Health
Manufacturing
Professional and Business
Construction, NR & Mining
Wholesale Trade
Other Services
Financial Activities
Transportation, WH & Utilities
Information
Payroll
Employment
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Employment and Payroll outlook… uneven
Mid-Columbia 2005 Top Industries
21.4%
15.0%
12.4%11.3% 10.8%
8.1%
28.3%
9.6%6.4%
9.4%11.8%
9.5%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
Government Agriculture,Forestry,
Fishing, andHunting
Leisure andHospitality
Retail Trade Educationaland HealthServices
Manufacturing
Employment Payroll
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Agriculture is a much bigger industry…
2005 Top Industries: Employment
21.4%
15.0%12.4% 11.3% 10.8%
8.1%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Government Agriculture,Forestry,
Fishing, andHunting
Leisure andHospitality
Retail Trade Educationaland HealthServices
Manufacturing
Mid-Columbia
Oregon
Washington
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Health Services a plus… Tourism not so much…
2005 Top Industries: Payroll
28.3%
11.8%9.6% 9.5% 9.4% 8.5%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
Government Educationaland HealthServices
Agriculture,Forestry,
Fishing, andHunting
Manufacturing Retail Trade Professionaland Business
Services
Mid-Columbia
Oregon
Washington
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The Real Wage Free Fall… stuck on $26,000
Real Wages - 2005 Dollars
$25,000
$30,000
$35,000
$40,000
$45,000
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
Mid-Columbia
Oregon
Washington
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Personal Income Growth Slows… Rebounds…
Oregon & Washington Personal Income Growth, 1990 - 2006
-5%
0%
5%
10%
15%
20%
1990.1 1992.1 1994.1 1996.1 1998.1 2000.1 2002.1 2004.1 2006.1
Oregon PI Growth
Washington PI Growth
Source: Bureau of Economic Analysis
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Recent History Not So Bad…
Oregon, Washington & Mid-Columbia Personal Income Growth, 1990 - 2006
-5%
0%
5%
10%
15%
20%
1990.1 1992.1 1994.1 1996.1 1998.1 2000.1 2002.1 2004.1 2006.1
Mid-Columbia
Oregon PI Growth
Washington PI Growth
Source: Bureau of Economic Analysis
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Falling Behind Over the Long Haul…
Oregon, Washington & Mid-Columbia Personal Income Growth - Inflation Adjusted, 1976 - 2006
-5%
0%
5%
10%
15%
20%
76-1 78-1 80-1 82-1 84-1 86-1 88-1 90-1 92-1 94-1 96-1 98-1 00-1 02-1 04-1 06-1
Mid-ColumbiaOregonWashington
Source: Bureau of Economic Analysis
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Home Price Appreciation Peaks – Falls…but how far
Oregon & Washington HPI Growth, 1990 - 2006
0%
5%
10%
15%
20%
25%
30%
1990.1 1992.1 1994.1 1996.1 1998.1 2000.1 2002.1 2004.1 2006.1
Oregon HPI
Washington HPI
Source: Office of Federal Housing Enterprise Oversight
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Oregon’s Home Price and Income Gap
The Gap Between Oregon Home Price Appreciation and Income Growth Widened
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
1990.1 1992.1 1994.1 1996.1 1998.1 2000.1 2002.1 2004.1 2006.1
HPI Growth
Personal Income Growth
Sources: Bureau of Economic Analysis, Office of Federal Housing Enterprise Oversight
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Washington’s Home Price and Income Gap
The Gap Between Washington Home Price Appreciation and Income Growth Widened
-5%
0%
5%
10%
15%
20%
25%
1990.1 1992.1 1994.1 1996.1 1998.1 2000.1 2002.1 2004.1 2006.1
HPI Growth
PI Growth
Sources: Bureau of Economic Analysis, Office of Federal Housing Enterprise Oversight
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Building Permit Activity at Record LevelMid-Columbia Building Permit Activity: 1993 - 2006
0
100
200
300
400
500
600
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Multi UnitSingle Unit
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Growth in Every Corner of the Mid-Columbia Mid-Columbia Building Permit Activity: 1993 - 2006
0
100
200
300
400
500
600
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Wasco
Skamania
Klickitat
Hood River
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The 10-Year Outlook… 3,753 PermitsMid-Columbia Building Permit Activity: 1997 - 2006
Hood River1,606
Klickitat1,032
Skamania725
Wasco390
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
1997 - 2006
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Manufactured Housing Far More Important than Multi-Family Housing in the Mid-Columbia
Mobile/Manufactured Housing Reportedby the 2000 Census
17.2%
14.2%
30.2%
20.9%
19.2%
10.3%
8.5%
23.5%
24.5%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0%
Gilliam
Hood River
Sherman
Wasco
Wheeler
Oregon
Washington
Klickitat
Skamania
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Apartments, Condos or Town Houses?2006 Residential Building Permits by Unit Type
76.4%69.8%
94.9%
23.6%30.2%
5.1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Oregon Washington Mid-Columbia
Multi Unit
Single Unit
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Second Home Owners?2006 Residential Building Permits per 1,000 Residents
5.6 5.5
6.7
1.72.4 0.4
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
Oregon Washington Mid-Columbia
Multi Unit
Single Unit
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A Bargain No Matter the Price?
2006 Median Home Prices on the Oregon Side of the The Mid-Columbia Region
$75,300
$170,000
$184,000
$255,500
$296,000
$299,800
$311,100
$426,000
$437,300
$200,000
$0 $50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
Sherman County
The Dalles
Cascade Locks
Odell
Parkdale/Mt.Hood
Hood River City
Mosier
Hood River-Westside
Hood River-Eastside
Mid-Columbia
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Reaching from the West…
2006 Median Home Prices on the Oregon Side of the Mid-Columbia Region
$75,300
$170,000
$184,000
$255,500
$296,000
$299,800
$311,100
$426,000
$437,300
$200,000
$0 $50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
Sherman County
The Dalles
Cascade Locks
Odell
Parkdale/Mt.Hood
Hood River City
Mosier
Hood River-Westside
Hood River-Eastside
Mid-Columbia
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How Much Income Do I Need?
Annual Household Income Needed to Afford a Median Priced Home in The Mid-Columbia
$16,031
$36,192
$54,395
$63,826
$63,017
$90,694
$42,579
$10,000 $25,000 $40,000 $55,000 $70,000 $85,000 $100,000
Sherman County
The Dalles
Odell
Hood River City
Parkdale/Mt.Hood
Hood River-Westside
Mid-Columbia
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The Other Side of the Mirror…
Annual Household Income Needed to Afford a Median Priced Home in The Mid-Columbia
$23,206
$38,385
$44,708
$57,227
$75,898
$42,579
$10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000
Goldendale
Dallesport/Murdock
Lyle
Whie Salmon/Bingen
Stevenson
Mid-Columbia
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A Growing Income Gap…
Median Household Income and Affordability Gap
$34,105
$38,531
$38,531
$38,531
$38,531
$15,864
$25,295
$24,486
$52,163
$2,087
$0
$1
0,0
00
$2
0,0
00
$3
0,0
00
$4
0,0
00
$5
0,0
00
$6
0,0
00
$7
0,0
00
$8
0,0
00
$9
0,0
00
$1
00
,00
0
The Dalles
Odell
Hood River City
Parkdale/Mt.Hood
Hood River-Westside
Median IncomeIncome Gap
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Getting Priced Out of Paradise…
Median Household Income and Affordability Gap
$36,014
$36,014
$36,014
$36,014
$40,216
$21,213
$35,682
$2,371
$8,694
$0 $10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Goldendale
Dallesport/Murdock
Lyle
Whie Salmon/Bingen
Stevenson
Median IncomeIncome Gap
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Questions?
Dallas Fridley, Regional Economist
Oregon Employment Department
Workforce and Economic Research
(541) 386-6020 x 238