LOCAL NEWS

Study: Solving King County homeless crisis could cost up to $11 billion

Jan 27, 2020, 9:14 AM | Updated: 10:56 am
homeless, streets, Seattle,...
Advocates for affordable housing in Seattle. (KIRO Radio)
(KIRO Radio)

A new report alleges that King County would require billions of dollars over the next decade to solve its growing homeless crisis.

Can a regional agency actually help Seattle’s homeless problem?

The report comes courtesy of the McKinsey & Company consulting firm, estimating that it would cost between $450 million to $1.1 billion a year over 10 years to fully house the homeless and low-income population.

“To put it another way, ending homelessness in King County would require spending three to five times the approximately $260 million currently spent locally on homelessness and (extremely low income) housing in the region,” the report reads.

McKinsey points to a sizable discrepancy between the growing cost of housing in the region, and the relatively stagnant growth in housing supply and household income. In King County, market rent has grown 52 percent between 2010 and 2017, while housing supply and household income have increased just 8 percent and 12 percent in that period respectively.

It goes on to note that low income residents paying market rate for housing are being forced to spend over 60 percent of their income on rent, “a truly unsustainable figure.”

“Picture a game of musical chairs, where instead of taking out seats at every round, a person is added to the game,” the report posited. “And instead of having a foot race when the music stops, an auction is held. Clearly, the players with the least ability to pay will be left without a chair. More chairs are needed. Without more chairs, as more players enter the game, the clearing price — or rent — will continue to rise.”

While King County is adding homes at what McKinsey labels “an impressive rate,” it still hasn’t been enough to keep with demand. That’s attributed to a massive population boom that has quickly outpaced housing growth.

Seattle, County homeless response paralyzed by bureaucracy

To solve this issue, the report advocates for an increase in affordable housing stock, estimating the region would need an additional 15,700 affordable homes to house low income residents. That would “enough just to house those that experienced homelessness in 2018 and were not permanently housed.”

To “fully stabilize” King County’s homeless crisis, the report calls for up to 37,000 new homes.

Local News

Troyer, Pierce County...
Nicole Jennings

Trial date for Pierce County Sheriff Troyer set for July 2022

Just as a trial date has been set for Pierce County Sheriff Ed Troyer, his department is facing challenges in recruiting new officers.
1 day ago
shooting, shootings, gun violence...
Stephanie Klein

Report confirms uptick in shootings across King County, Seattle

King County Prosecuting Attorney's Office released an updated report on gun violence data after a rash of shootings.
1 day ago
Chappelle...
Stephanie Klein

Dave Chappelle coming to Seattle’s Climate Pledge Arena

Comedian Dave Chappelle is coming to Climate Pledge Arena for a show on New Year's Eve.
1 day ago
Jay Inslee, reopen, vaccine requirements, long term care tax...
Nick Bowman

Gov. Inslee: ‘May be possible’ to delay long-term care tax while lawmakers work through issues

Gov. Jay Inslee says that he is working with state lawmakers to discuss the possibility of postponing a long-term care tax taking effect in 2022.
1 day ago
(Getty image)...
Stephanie Klein

Seattle police investigating 5 shootings overnight

Seattle police are investigating five shootings in the past 24-hour period. Two people were injured.
1 day ago
Republicans, redistricting...
Nick Bowman

State Supreme Court allows late-arriving redistricting maps to move forward

The state Supreme Court n will allow new legislative and congressional maps submitted late by the state's redistricting commission to move forward. 
1 day ago

Sponsored Articles

...
Experience Anacortes

Coastal Christmas Celebration Week in Anacortes

With minimal travel time required and every activity under the sun, Anacortes is the perfect vacation spot for all ages.
...

Delayed-Onset PTSD: Signs and Symptoms

Lakeside-Milam Recovery Centers SPONSORED — You’re probably familiar with post-traumatic stress disorder. Often abbreviated as PTSD, this condition is diagnosed when a person experiences a set of symptoms for at least a month after a traumatic event. However, for some people, these issues take longer to develop. This results in a diagnosis of delayed-onset PTSD […]
...

Medicare open enrollment ends Dec. 7. Free unbiased help is here!

Washington State Office of the Insurance Commissioner SPONSORED — Medicare’s Open Enrollment Period, also called the Annual Election Period, is Oct. 15 to Dec. 7. During this time, people enrolled in Medicare can: Switch from Original Medicare to a Medicare Advantage plan and vice versa. Join, drop or switch a Part D prescription drug plan, […]
...

How to Have a Stress-Free Real Estate Experience

The real estate industry has adapted and sellers are taking full advantage of new real estate models. One of which is Every Door Real Estate.
...
IQ Air

How Poor Air Quality Is Affecting Our Future Athletes

You cannot control your child’s breathing environment 100% of the time, but you can make a huge impact.
...
Swedish Health Services

Special Coverage: National Prostate Cancer Awareness Month

There are a wide variety of treatment options available for men with prostate cancer. The most technologically advanced treatment option in the Northwest is Stereotactic Body Radiation Therapy using the CyberKnife platform.
Study: Solving King County homeless crisis could cost up to $11 billion