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Study shows demand for housing increasing for seniors, entry level homes

Housing needs continue to increase despite falling population

Charles City, Iowa – Demand for housing in Floyd County and Nashua continue to grow at an alarming rate according to a housing needs assessment conducted by the Charles City Area Development Corporation.

Matt Mullins from Maxfield Research and Consulting presented the findings to Charles City community leaders Thursday morning.

He says the biggest challenge is making entry level homes affordable.

 

According to the study, home resale values are at their highest since 2006 with median sales in $82,000 in Charles City, $89,500 in Nashua and $88,000 in the surrounding areas.

Mullins says the study found the highest demand of housing comes from seniors with 640 units needed by 2025.

 

Seniors listed affordable rent and market rate housing as the most needed.

Other areas of the study highlighted little no vacancy in rental units, dwindling lot supply availability and financial incentives.

According to Mullins, higher wage-jobs are needed and promote the development of housing like the North Grand Building and McQuillen Place.

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Kellan Heavican

News & Sports Director

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