Here’s an interesting update on local housing related to Walker County from Construction Coverage’s recent study. Their Mike LaFirenza informs us that:
“The need for affordable housing in the United States has never been greater. 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 home buyers 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 Walker County, TX:
- Between 2012 and 2022, Walker County’s housing stock increased by 24.0%, while its population grew by 15.3%.
- Over that same span, the median home price in Walker County increased by 92.5%.
- Looking only at very small U.S. counties, Walker County experienced the 2nd largest percentage increase in total housing units over the past decade.”
You can link to the original report at https://constructioncoverage.com/research/counties-with-the-most-housing-growth-last-decade
