Housing Production Plan (2015-2016)

A Housing Production Plan (HPP) guides housing development within a community and is composed of:

The Town of Swampscott has worked with the Metropolitan Area Planning Council to develop our community’s first housing production plan.

Housing Needs and Demand Assessment

Swampscott’s population has grown modestly since 1990 and is projected to continue to grow. The Town’s overall population has aged and will continue to do so; the over-65 population will nearly double by 2030, while the school-age population will increase modestly.
Swampscott’s median household income is $92,258. The median income for family households is $113, 456, while non-family median household income is significantly lower at $45,205.
Almost half of senior households have an annual gross income of less than $40,000.
Only 10% of dwelling units are in larger multifamily structures, most of which are condominiums.
Most Swampscott households own their home – over 70% are owner occupied.
Swampscott’s housing market is extremely tight with only 1% or units vacant.
Low for-sale inventories have led to escalating housing prices.
Swampscott’s ownership and rental housing is not affordable. Median sales prices are nearing all-time highs, and median rents are significantly higher than fair market rent for all unit types.
Approximately one quarter of Swampscott households are low-income; especially among elderly households, with more than half of them eligible for housing assistance.
More than 40% of all households are cost burdened; the rate is particularly high among renter households (55%).
Over 80% of low-income households are cost burdened.