The Town of Watertown Affordable Housing Work Group is seeking your input for the development of an Affordable Housing Plan for the Town.
This plan is meant to identify and recommend measures the town might take to increase Watertown’s affordable housing stock over the next 5 years.
Section 8-30g of the Connecticut General Statutes is meant to encourage towns with less than 10 percent of their housing stock considered “affordable” to develop some more. The goal is to increase the affordable housing stock from its current 5% affordability to 10% affordability. Currently, only 454 dwelling units owned and rentals out of 9,096 are considered affordable.
Financial experts advise spending no more than 30 percent of household income on mortgage or rent, a difficult task given the high costs of housing.
“Affordable Housing” is housing with a monthly cost of less than 30% for households earning 80% or less of the area median income. Median income refers to the income level where half of the households earn more and half earn less. For Watertown, this means that a household of two earning $71,550 per year would have a housing budget of no more than $1,788.75 per month.
The following questions ask your thoughts about current housing options in the Town of Watertown, affordable housing in general, and more specifically, the type of housing Watertown needs now and in the next ten years. All responses are anonymous, so please answer as many questions as you would like.
Thank you for your time and interest in this survey.
Watertown Affordable Housing Survey
Original source can be found here.
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