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Poulsbo data show rents and incomes diverging; nearly half of renters cost‑burdened
Summary
Planning staff told the commission that 2023 median rent in Poulsbo was $1,767 (a 77% increase since 2010) while median renter income is about $52,000, leaving roughly 47% of renters cost‑burdened. Staff cited HUD AMI benchmarks to frame affordability levels.
Planning staff presented updated 2023 figures and HUD benchmarks, saying the federal standard treats housing as affordable when households spend no more than 30% of gross income on housing.
"The current median rent in 2023 was $17.67, so $1,767," the planner said while explaining that a renter would need about $66,000 in annual income to avoid spending more than 30% of that rent on housing, compared with a median renter income of about $52,000.
Staff reported that about 47% of renters are cost burdened or severely cost burdened — meaning they spend more than 30% or 50% of income on housing — and stressed that these households have less to spend at local businesses and on necessities.
