This award is part of the Surplus and Contract Resolution and is subject to the City Council's declaration of surplus and entry into the purchase and sale agreement presented previously on this Agenda. The following is a brief summary of housing needs in the City of Yakima.

The most recent City of Yakima housing needs assessment data is contained in the city’s recent Housing Action Plan. The City of Yakima has grown since 2010, with a current estimated population of 96,968 residents and is expected to continue growing to 110,387 people by 2040.  The average household size in Yakima is 2.71, slightly larger than the statewide average of 2.55. While the average household size is larger relative to the state, more than half (58%) of the city’s residents live in single or two-member households. Renters are more likely to be single-person households than owners. 

There is a housing shortage in Yakima. Vacancy rates for both apartments and homes for sale are extremely low, below 1%. When vacancy rates are so low, people looking for new homes have fewer options, increasing competition for the limited supply of units available. This drives up both rents and home prices. Local housing prices are rising faster than local incomes. The median home value in Yakima has risen by 38% between 2010 and 2019. Over the same period, the median family income has increased by 19%. This indicates that homeownership is getting further and further out of reach for many prospective buyers. 

In the last 3 years, the city grew by an annual average of 530 new residents, a greater annual amount compared to 2010-2017 at 386 persons per year. To achieve its growth target, the city is projected to add about 745 persons per year over the next 20 years.  The average household size in Yakima is 2.71. If applying a 2.7 household size to the remaining population target, about 5,517 dwelling units would be needed between 2020 and 2040. 

Site Overview

The site consists of one tax parcel, Yakima County Tax Assessor Parcels 191320-32484. The site is located at 501 South 12 Street, across from Kiwanis Park. It is currently a vacant lot.