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i5~ <br />Chapter 5: Housing Element <br />information to the county's homeless and other <br />people in need. <br />5.5. NEEDS ASSESSMENT <br />Orange County's housing market has benefited from the <br />exceptional quality of life found in its communities. The housing <br />market has been very strong, even during economic downturns, <br />and property values have continued to be higher in the county <br />than in neighboring jurisdictions. The result of the healthy <br />housing market is an increased need for lower and moderate <br />income housing options. <br />As the county's population increases in future years, more <br />housing units will be needed. The location, density, and pattern <br />of these new housing developments will have a large impact on <br />the county's community character, as well as its economic, social, <br />and environmental sustainability over the long-term. <br />The Comprehensive Plan provides the county with direction <br />through guiding principles, goals, and objectives aimed at the <br />future housing needs identified. A summary of the key <br />community needs for housing includes: <br />^ By 2010, estimates show that an additional 1,064 new <br />housing units will be needed in the county.s' It is <br />expected that the county's population will continue to <br />grow through 2030, and will demand additional <br />housing. Appropriate areas for future development to <br />provide new housing will need to be identified. <br />^ The current supply of rental housing stock is aging <br />and in need of rehabilitation and upgrading. <br />Upgrading these units is needed to ensure the <br />efficient use of existing rental housing and <br />maintenance of the existing supply of affordable units <br />in to the future. <br />^ Housing analyses have shown that there is a <br />significant unmet demand for affordable housing <br />for households earning 30% or less of the area <br />median income. New affordable housing options are <br />needed for these households. <br />^ Because private mobile home parks in the county are <br />being converted to other uses, households are being <br />displaced and the supply of affordable housing units <br />is being reduced. Other affordable housing <br />alternatives are needed for displaced mobile home <br />owners. <br />^ Homeownership opportunities for households <br />earning 80% of the area median income and below <br />are limited and not meeting existing demands. <br />Homeownership opportunities need to be expanded to <br />c~rcx,-~-~ Couv~.ty Cotn.~rel~.evt~i~v2~ ~la.~~. WORKING DRAFT 3-5-08 S8 <br />