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.
Between 2000 and 2011-15, homeownership has increased in all regional counties except Dutchess. At the same time, housing has become less affordable for both homeowners and renters. Between 2005 and 2015, homelessness increased in the Mid-Hudson Valley.
Homeownership rates have increased across the region.
The region has experienced a slight uptick in homeownership rates, rising from 68% in 2000 to 69% in 2011-15. Rates were up slightly in two of the region’s counties, up to 69% in both Orange and Ulster, compared to 70% for the state and 64% for the nation.
The region experienced an increase in the rate of homelessness since 2005, contrary to state and national trends.
In 2015, there were 14.2 homeless persons per 10,000 residents in the region. Among the counties, homeless rates were 13.1 in Orange, 12.7 in Dutchess and 19 in Ulster. The region’s rate of homelessness increased by 10% between 2005 and 2015 compared to a 3% decline in the state rate and a 31% decline in the nation.
Homeownership has become less unaffordable throughout the region.
Housing was considered less unaffordable for homeowners in the Mid-Hudson Valley region in 2011-15. Affordability ratios (median home value divided by household income) ranged from a low of 2.9 in Orange County to a high of 3.0 in Ulster and Dutchess County, all within the 3.0 considered affordable as well as the ratio for the nation (2.6).
Rental housing has become less affordable between 2000 and 2011–15, similar to state and national trends.
Rental housing in the Mid-Hudson Valley region was also above the federal affordability guideline that housing should cost no more than 30% of household income. In 2011-15, renters in Dutchess spent 35% of their income on rent below both Orange and Ulster (38% and 39% respectively) renters, but above the 33% spent in the nation. These proportions were up from 2000, 11 points in Orange, 8 points in Dutchess and 10 points in Ulster.