Housing fulfills the basic human need for shelter and is a strong measure of a community's cost of living, relative wealth and general prosperity. In this section, we highlight the trends for 3 indicators: 1) homeownership rates; 2) housing affordability for homeowners; and 3) housing affordability for renters.
In all cases, comparisons to state statistics reflect the state excluding New York City.
Overview
Between 2000 and 2012-16, homeownership has increased in two of three counties. At the same time, housing has become less affordable for both homeowners and renters. The rate of homelessness in Orange has decreased since 2005.
Healthy Neighborhoods
Homeownership rates have increased across the region.
Orange County has experienced a slight uptick in homeownership rates, rising from 67% in 2000 to 68% in 2012-16. This was comparable to the increase in the region, the state, and Ulster. The nation’s rate was slightly lower at 64%.
Homelessness
The rate of homeless persons decreased since 2005, and continued to have the lowest rate in the region.
In 2016, there were 9 homeless persons per 10,000 residents in Orange, a 17% decrease from 2005. Orange’s rate was the lowest in the region in 2016.
Affordable Housing
Homeownership has become less unaffordable in Orange County
Orange’s affordability ratio of 2.8 is below the 3.0 considered affordable but increased dramatically from 2.1 in 2000. This was above the ratio for the state (2.4) and nation (2.6) . (The ratio is calculated by dividing median home value by household income.)
Rental housing has become less affordable between 2000 and 2012-16, similar to state and national trends.
Rental housing in the county was above the federal affordability guideline that housing should cost no more than 30% of household income. In 2012-16, renters in Orange spent 37% of their income on rent, above Dutchess, the state and nation. Renters in Orange were spending more of their income on rent compared to 2000, up 10 points, compared to increases of 7 points in Dutchess and 10 points in Ulster.
