2. How can OV help promote home ownership of single-family homes, townhomes, condos, etc.?

A component that identifies programs that promote home ownership is legally required in the 10-year plan.

• Resident Guidance: According to a statistically projectable survey, 60% of residents are personally concerned with housing costs, 40% of residents live with family because of rental costs, 47% agree there is a lack of financially attainable housing for teachers, police, first responders, retail or service employees, or entry level professionals and 42% agree there is a lack of financially attainable housing for seniors, veterans, or people with disabilities. Common phrases heard over the past year at events and online lower rent, affordable housing options, especially for families and workers.  

• Existing Conditions: In 2023, 16.3% of owner-occupied homes and 39.8% of renter-occupied homes are cost burdened, meaning more than 30% of their income is spent on housing related costs. A housing affordability gap is the difference between the rents or housing values in a community and the ability of households to afford those rents or values. Oro Valley’s housing affordability gap is 4,561 units, or 22% of total households. Oro Valley’s median household income is $92,548. The average home price in OV is $169K. This requires a household income of $104K-136K.