Dashboard: Edmonds

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Demographics1
 2000  2010 2013 2014 2015 2016 2017
Population2  39,544 39,709 39,950 39,950  40,490 41,260 42,820
Housing Units 17,519 18,725 18,829 18,693  18,805 18683 18,599
Renter Households 31.7% 28.5% 30.5% 31.3%  31% 27.0% 27.4%
Median Household Income (2017 dollars)  $74,172  $83,966
 $84,294
  $83,070
 $83,584  $85,289  $87,481
Households <50% AMI 10.5% 30.1%  30.1% 29.6%  27% 24.4% 21.0%
Cost-Burdened Homeowners 23.1% 36.6% 33.6% 31.0%  28.9% 26.3% 25.7%
Cost-Burdened Renters 40.7% 47.8% 48.1% 46.2%  47.0% 42.3% 41.2%
Average Household Size: Homeowners 2.5 2.4 2.4 2.4  2.37 2.38 2.42
Average Household Size: Renters 1.9 1.8 2.1 2.0  2.09 2.2 2.14
Single Family Home Share  65%  64.7% 64.3% 65.0%  65% 65.0% 65.1%
Single Person Households 29% 32.5% 31.1% 30.9%  30.8% 26.8% 27.2%
Jobs-Total Housing Ratio 0.59 0.57 0.65
Jobs-Occupied Housing Ratio 0.61 0.60 0.69
Employed People/Occupied Housing Unit 1.19 1.12 1.08
Location Affordability Index

HUD’s Location Affordability Index provides estimates on the typical cost of housing and transportation combined in a given location balancing a wide range of factors. These estimates are expressed in terms of a share of household income, with 45% as the recommended maximum portion of income devoted to the two. Estimates of what several types of households could expect to spend on housing and transportation in the City of Edmonds are as follows:

  • Regional median income household – 50.7% of income
  • Family at 80% AMI – 56.4% of income
  • Single parent family at 50% AMI – 79% of income
  • Retired couple at 80% AMI – 50.7% of income
  • Individual at national poverty line – 183.4% of income
Typical Housing Costs – All Households3
 2000  2010  2013  2014  2015  2016  2017
Median Rent (2015 dollars)  $1,080 $1,124  $1,227
  $1,243 $1,271 $1,318 $1,349
Required Income $43,182  $40,492  $43,106 $43,991
Median Home Value (2015 dollars) $330,102  $459,205  $385,989 $384,565  $393,700 $413,000 $443,800
Required Income4 $85,319 $106,092
 $91,513
  $90,455 $91,275 $93,782 $97,721
Ratio: Median Value-Median HH Income 4.5 6.1 5.2 5.2
Assisted Housing Stock
2003 2007 2010 2013 2014 2015 2016 2017
All Assisted Housing Units 504
Section 8 Housing Choice Vouchers: HASCO  196  189  172  177  173  213*
Section 8 Housing Choice Vouchers: EHA  17  24

*Large increase from 2014-2015 reflects HASCO’s conversion of units at Olympic and Sound View properties from HUD Multifamily Project-Based Section 8 to Project-Based Vouchers. These units would have previously been counted with “all assisted housing units”, but not with Housing Choice Vouchers.

Market Information

The table below differs from the “Typical Housing Costs” table in that it specifically shows rents and home prices for new renters or homebuyers in that year, as opposed to values for the entire market as in “Typical Housing Costs”.

2010 2013 2014 2015 2016 2017
Median Rents – Dupre and Scott (2015 Dollars)
     Studio  $704  $752  $766  $765
     One Bedroom  $758  $808  $830  $875
     Two Bedrooms  $973  $973  $1,028  $1,119
     Three Bedrooms  $1,195  $1,507  $1,700  $1,639
     Four+ Bedrooms  $2,146  $2,414  $2,300  $2,294
Median Home Sale (2015 Dollars)  $372,092  $363,657  $357,852  $440,000  $435,425
     Required Income  $80,582  $73,377  $70,931  $87,346  $86,164

1. Unless otherwise noted, 2010 and 2013 data in “Demographics” table is from 5 year US Census American Community Survey estimate. Data from 2000 is from the 2000 Census SF-3 file.
2. Washington State Office of Financial Management
3. Unless otherwise noted, 2010 and 2013 data in “Typical Housing Costs” table is from 5 year US Census American Community Survey estimate. Data from 2000 is from the 2000 Census SF-3 file.
4. Minimum income is based on a calculation of estimated monthly debt service payment, insurance, and taxes for the median value home using average mortgage terms for the specified year from the Federal Housing Finance Agency. Due to differences in average mortgage terms over the years, the degree of change in minimum income may not seem to match the degree of change in median home value.

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