Fort Collins' Housing Opportunity Index (HOI) compared to western states region HOI

Desired Result:  Above Target

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Analysis of Performance

Note: This metric is reported one quarter in arrears since the data takes 8 weeks to be reported by a third party agency; current performance is based on the prior quarter's results.

  • This is a quarterly metric updated one quarter in arrears. 
  • This analysis statement reflects Q3 data.
  • Fort Collins sales reflect slightly greater buying power, and the median sales supported by the  median income climbed up 5%
  • Generally, sales price escalation continues but seems to be slowing and is currently at or slightly above the national average
  • Still, the City's position relative to the Western region of the country is holding steady between 49-50%, which is lower than the City's target

  • Convening Homeownership Work Group as part of the update to the Affordable Housing Strategic Plan
  • Land Use Code Audit underway to implement City Plan and look for ways to simplify process
  • Undertaking study to look at feasibility of Inclusionary Housing Ordinance and/or new Affordable Housing Impact Fee
  • Kechter Land Bank parcel determining feasibility of new affordable home ownership community
  • Formalized partnership with Elevations Community Land Trust in a Memorandum of Understanding
  • Continue to offer Home Buyer Assistance and to partner with Habitat for Humanity

Metric Definition
The Housing Opportunity Index (HOI) is defined as the share of homes sold in an area that would have been affordable to a family earning the local median income. The target is to be in the top third (66% or better) for the Western region of the United States.
Why Is This Important?
This metric measures how the community's housing affordability changes over time based on income and housing cost. Data draws from the private housing market and interest rates, and is an indication of how well the market is responding to families earning the area median income.
City Organization Impact on Performance

Low – The City does not directly affect the private housing market or residents' income levels. Through grants provided by the Competitive Process, the City often incentivizes a limited number of new housing units for lower-income residents, which would be included in the number of housing units reported through the HOI data. This metric reports market activity more than City activity.

Benchmark Information
This metric contains regional benchmark data because the target for this metric is defined as being in the top 66% regionally for HOI. Comparing Fort Collins' HOI to the regional HOI allows a separate analysis of internal and external trends, which places the City's performance in context. There are only 6 reporting areas in Colorado, which is not enough for a good comparison. This data is published quarterly, although published for the preceding quarter.