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Snohomish housing official: supply shortfall, high interest rates have priced out most regional workers
Summary
Chris Collier of the Housing Authority of Snohomish County told Arlington City Council that long‑term underproduction and recent interest‑rate spikes have left most workers unable to buy in the region; he estimated nearly 87,000 very low‑income households and said assistance covers only about one in four qualifying households.
Chris Collier, program manager for the Alliance for Housing Affordability and government relations director for the Housing Authority of Snohomish County, told Arlington City Council on Oct. 28 that housing production across Snohomish County has failed to keep pace with new households — a shortfall that, combined with recent interest‑rate increases, has pushed ownership out of reach for most workers.
"Prices are exceeding the buying power of all but 15% of the region's workforce," Collier said during a 20‑minute presentation on county and city housing trends. He showed county charts of units built versus household formation, long‑run increases in median single‑family sale prices (adjusted for inflation) and a recent…
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