Survey Results Personal Interviews The HOMEOWNERSHIP SURVEY The HOMEOWNERSHIP is a household income, education, and housing survey of over 16,000 adults. It provides a detailed examination of how income, education, and housing status are related to a number of different outcomes. The results are presented for both the households that do not own their homes and for those who do not own their homes. This survey is designed to be a baseline assessment of the housing situation in this region of central Montana. Over the past six months, the survey has gathered information on the typical household structure, housing quality, characteristics of householders, housing needs, and housing values. Over 8,000 homes in the area are currently held by renters or homeowners. A summary of these results and data analysis from the 2005 Homeownership Survey can be found in Appendix A. BINDING OR NONBINDING? The homeownership rates, median income and the housing values in this area all differ greatly from one another. This is not surprising because this region of central Montana is a geographic outlier that is very, very different from most of the rest of northern Montana. The average home values in that region are nearly twice the national average, but the median home value is 60,000. In other words, there are only a few neighborhoods in the area that have a median home value over 100,000. In fact the home values in that region (excluding Billings) are about 10% below the national average, indicating that most of the region is more expensive than most places in Montana. Thus, the homebuyer's opportunity cost to own in this area is very high, particularly at the median value. One reason that the average home in this region is so expensive is that so many of the homes are vacant. The homeownership rate is only 41% in the region. The Home Ownership Survey is designed to test for a relationship between income and homeownership, as well as looking at the typical value of a home, and then estimating homeownership with the model shown in Appendix B. This report is a summary of the results of the 2005 Homeownership Survey. The full data set can be obtained from the Center for Applied Economic Research 1000 University Drive, Billings, MT 5910, tel.
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City Of Billings Community Development Division BILLINGS HOUSING NEEDS ASSESSMENT Prepared by Center for Applied Economic Research 1500 University Drive, Billings, MT 59101 (406) 657-2217 ca heath
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What is billings housing needs assessment?
The Billings housing needs assessment is a comprehensive analysis that evaluates the current and future housing needs of the city of Billings, Montana.
Who is required to file billings housing needs assessment?
The city government of Billings is required to file the housing needs assessment.
How to fill out billings housing needs assessment?
To fill out the Billings housing needs assessment, the city government collects data on various housing factors, conducts surveys, and analyzes the findings. They then compile a report outlining the housing needs and proposed strategies to address them.
What is the purpose of billings housing needs assessment?
The purpose of the Billings housing needs assessment is to identify and understand the current and future housing needs of the city's residents. It helps in forming policies, making informed decisions, and developing strategies to meet those needs.
What information must be reported on billings housing needs assessment?
The Billings housing needs assessment should include information about the current housing stock, affordability, population trends, income levels, and housing market conditions.
When is the deadline to file billings housing needs assessment in 2023?
The deadline to file the Billings housing needs assessment in 2023 has not been specified. Please refer to the official city government sources for the most up-to-date information.
What is the penalty for the late filing of billings housing needs assessment?
The penalty for the late filing of the Billings housing needs assessment has not been specified. Please refer to the official city government sources for the most up-to-date information.
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