Here's Why Duluth Single-Family Housing Cost is Spiking
Duluth, MN has fallen into a hole when it comes to housing challenges and a new study has pinpointed a few reasons why. Duluth has made some strides in the right direction to remedy some of the housing challenges, however, the combination of challenges may be a little too much for the city to handle.
"While Duluth has made progress adding to its inventory of rental housing in recent years, the pace of construction for single-family homes has fallen woefully short of goals set forth in a market analysis conducted by Maxfield Research & Consulting LLC," according to National Mortgage News.
"To accommodate the city's anticipated growth, the firm predicted in 2014 that Duluth would need an additional 4,470 units of housing by 2020."
According to the report the amount of homes being added per year are capped at about 70 units. To keep up with the pace, this would need to be increased to 150, a number Chelle Eliason, CEO for Arrowhead Builders Association says is difficult to imagine hitting.
"She said industry capacity constraints are 'a universal challenge within the local area, the region, the state and nationally.' That's largely a reflection of a labor shortage, Eliason said," according to the report.
"Workforce development, especially in the construction trades, is a huge challenge for everyone."
There are a number of additional issues that happen to be effecting Duluth's single-family housing challenges, to learn more about them, click on the image above.
