Richmond Regional Housing Framework
Measuring Success and Tracking Progress
For this Framework to be successful, we will need to hold ourselves accountable with respect to progress made. PHA will publish annual reports with two types of benchmarks: one set of regional housing outcomes to measure the affordability and accessibility of our housing markets, and one set of implementation targets for solutions. These reports will be accurate, simple to understand, and transparent.
Measuring Housing Outcomes
The first element of the annual report will be establishing a baseline, beginning in 2020, for a series of measures by which we can judge our forward progress in improving the housing status for residents of the region. These measures are organized under the five values that guide the Framework: Opportunity, Quality, Equity, Regionalism, and Innovation.
The Framework contains a series of priority solutions for each of the six Goals. There are dozens of others that will be pursued in the coming years. Since the Framework is a “living” document that exists on the PHA website, we expect solutions will be added, deleted, and amended from time to time as conditions change.
Every year, we will evaluate whether each solution has seen no progress, is in progress, or has achieved success.
There has been no measurable activity or housing production related to the solution during the previous year. In cases where no progress has been made, PHA will determine causes and suggest possible changes in strategy.
Tangible work is underway on the solution and may be reflected in housing production, policy implementation or related activity. For strategies where progress is underway, PHA may suggest timetables and identify challenges to be addressed or specific objectives for the following year.
Solutions will appear in this category if they have been completed or, in the case of an ongoing strategy, if the level of production or activity is high and in line with the goal. Solutions which are completed will move to a separate section of the status report and remain there to demonstrate the overall progress of the Framework.
Tracking Desired Housing Outcomes for the Richmond Region
1. Maintain ratio of regional housing production growth to regional
2. Increase diversity of regional, multi-family inventory
3. Reduce the share of renters spending over 30% of annual household
income on housing
4. Reduce the share of homeowners spending over 30% of annual household income on housing
5. Increase number of LIHTC units built and allocated across the region
6. Increase number of assisted living housing units available to people
over age 65
7. Increase percentage of rental units affordable to households at 50%
AMI or below
8. Increase number of RRHA housing units rehabbed or replaced
9. Increase the number of low-income and senior households served by programs to support repairs, aging in place retrofits, and weatherization
10. Raise homeownership rates for people of color to reduce the racial
imbalance between homeownership and wealth creation
11. Increase percentage of homes affordable to first-time home buyers
(assessed value between $150,000 - $200,000)
12. Decrease number of middle-income ($50,000 -$100,000) households
denied financing to purchase a home
13. Increase utilization of Housing Choice Vouchers in high opportunity areas
14. Increase the number of cross-jurisdictional housing initiatives
15. Increase percentage of small-scale single-family homes (less than 2,000
square feet) by type: townhouse, condo, manufactured, modular, zero
lot, tiny homes
16. Reduce regional eviction rate
17. Increase number of non-traditional homeownership units across the region (e.g. community land trusts, co-housing, cooperatives, etc.)