When I visit with business owners in Green County, I hear the same refrain. “It is very difficult to find employees.” “Many employees are not able to find housing near their place of employment.” “It would be much easier to recruit and retain a quality workforce if we had more housing in the county.”
Employers are definitely feeling a housing shortage, but what does the data show? The Green County Development Corporation worked with municipalities in Green County to have Southwest Wisconsin Regional Planning Commission conduct a housing study. This recently completed study identified housing needs across Green, Lafayette, Iowa, Grant, Richland and Crawford Counties, and recommended strategies for future residential developments.
What did the study find?
Yes, we definitely have a housing shortage in Green County. Take a look at the full reports for Green County, Belleville, Brodhead, Monroe, Monticello and New Glarus on our website: greencountyedc.com.
What housing do we have? Green County has 15,858 existing housing units, up 14% since 1990, when the county had 13,878 units. The trend in Green County is a steady increase in the number of housing units.
The majority of housing units are single-family structures. The number of single-family homes in Green County has steadily increased since 1980. The number of multi-family units has remained relatively the same over the same period.
Like all of southwest Wisconsin, Green County housing stock is old. Structures built before 1940 represent 26% of the county’s existing housing. Approximately 63% of all housing units in the county were built prior to 1980, before the sale of lead paint was banned.
How do demographics impact our housing market? According to the U.S. Census Bureau, 12.2% of Green County households are occupied by someone 65 or older living alone. This means there is existing housing that is likely to become available in the next 10 to 20 years. Seniors are selling their houses as they move into smaller places, assisted living or nursing homes. However, the existing housing stock does not meet the needs of the senior population, which causes them to stay in their homes for longer. This in turn causes a tighter market for first time homebuyers.
The current housing market is characterized by the low inventory of homes and strong demand.
This has created a “Seller’s Market” marked by a tight supply of “good” homes, leading to inflated values, which make it harder for buyers to qualify for mortgages. In addition, some residents may be potential sellers but don’t feel they would find suitable replacement housing in the same community.
Green County’s median household income in 2016 was $57,416. Households with the median income will have a gap of $18,360 between what they can afford for a mortgage and the median home value in the county, $180,000.
There is demand for housing under $180,000, entry-level housing, senior condos, and ranch-style homes.
The most needed housing falls in the range of $80,000 to $100,000 as well as median-priced housing between $100,000 and $160,000. There is demand for homes in the $250,000 to $350,000 range, but there are limited qualified buyers for homes above $300,000.
How much housing do we need? The Wisconsin Department of Administration estimates population and household projections for 2030. Using these numbers, Green County should expect to need an additional 2,578 housing units by 2030. This includes 233 housing units in Belleville; 152 units in Brodhead; 522 units in Monroe; 38 units in Monticello; and 88 units in New Glarus.
What can be done? Action needs to happen to incentivize private housing investment in Green County. Recommendations for implementing changes are well documented in the study. Broadly, they include: 1) Community investment to address gaps in private housing development; 2) Incentivize housing developers; 3) Address issues associated with the demographic changes that impact the housing market and housing preferences; 4) Address issues of housing costs and affordability; and 5) Work to address issues associated with the purchase of existing homes.
Each one of these recommendations comes with specific action steps. We encourage all community and business leaders in Green County to take action on these recommendations.
— Cara Carper is executive director at Green County Development Corporation. She can be reached at cara.gcdc@tds.net.
