If you have noticed a boom in construction in our area, you’re not alone. It seems there is a new project in the works weekly in our area and there are other parts of the country that are experiencing the same thing.
Construction Coverage just released a new study about the U.S. locations with the most housing growth over the last decade.
After adjusting for inflation, home prices are nearly 60% higher than they were 10 years ago, and roughly 25% of renters spend over 50% of their income on rent. With the national housing shortage estimated between 3.8 million and 5.5 million units, renters and homebuyers nationwide are left competing for a scarce, expensive supply of housing.
But while the national supply of housing has been lagging overall, some parts of the country have managed to add homes faster than others. Using the most recent ACS data, researchers ranked counties by the percentage change in housing units built between 2012 and 2022.
These are the key takeaways from the report for Eau Claire County, WI:
- Between 2012 and 2022, Eau Claire County’s housing stock increased by 9.7%, while its population grew by 6.1%.
- Over that same span, the median home price in Eau Claire County increased by 89.7%.
- Overall, Eau Claire County experienced a larger percentage increase in total housing units over the past decade than the country as a whole (+8.5%).
