Is Your Community’s Housing Stock Positioning you for Growth?
If your community added 1,000 new jobs tomorrow, would you be able to provide 770 additional housing units?
National standards assume a need for 0.77 housing units for every job created. Many communities across the country are grappling with aging housing stock, constrained housing markets, and residents who are cost-burdened (spending more than 30% of their income on housing).
Understanding your community’s housing gaps and misalignments is essential to implementing policies, programs, and solutions to ensure everyone is at home in your community.
Fourth Economy has a growing portfolio of working
with communities across the country to examine and develop unique solutions to complex housing problems.
Four questions to consider
Where are there housing gaps and misalignments in my community?
Do all residents have access to safe, attainable housing?
Do local regulations and policies (land use, zoning, etc.) support housing growth?
Is my community investing to maintain current housing stock?
Our housing needs assessment considers several areas that allow communities to understand their housing conditions, gaps, and needs in a holistic way.
Market
What are the population trends influencing housing demand?
Are housing price points in the region aligned with area wages?
How do you ensure the sufficient availability of workforce housing to sustain growth?
Place
Where are the “centers of gravity” that may be ideal for housing development?
Where are there high vs. low densities of residents?
Are there areas near transit corridors where people can live affordably while having transportation access to the region?
Government
How are existing efforts by leading agencies and organizations already addressing housing issues in the county?
What actions are government agencies or major employers taking to implement compelling housing projects or other developments in the region?
What local and regional plans will affect housing supply in the near future?
Economic
What is the tax/revenue picture for the city/county/region?
What incentives or sources of funding are available to achieve the city’s
housing goals?
Are there strategic areas for development/redevelopment?
Project Examples
Get in touch to find out more about our assessment and planning capabilities
Fourth Economy is an economic development consultancy that uses analysis and engagement to help communities become more equitable, strategic, and resilient.
Want to know more? Get in touch!
Watch our webinar: Equitable Approaches to Housing
Nathan Wildfire (Co-founder, Missing Middle Housing Fund), moderated a discussion with fellow housing leaders Fatimah Aure, MPP, Rebecca Giroux, and Katie McAuley. The group shared what's missing in their communities, why these barriers exist, who is being impacted, and what mechanisms can be used to help tackle housing equity issues.