Franklin County housing study reveals need for over 600 new units

     This article is part of a larger series that will break up the data provided in the study into smaller sections, putting their impact into context of the multiple forces at work when it comes to the Franklin County housing market. For context, this story highlights key portions of the study. Future articles will breakdown the numbers in this story further for understanding. Next week’s story will talk about the demographics of Franklin County as pertains to the housing market.
 

     After four months of anticipation following a target release date of February 2017, the long-awaited Comprehensive Housing Needs Analysis for Franklin County was finally released to the public at an informational session at Center One last Wednesday, June 7.

     The 180-page report, conducted by Maxfield Research and Consulting (Golden Valley, Minnesota) outlines several factors that come into play when evaluating available housing and housing needs in communities. The report ultimately concludes that Franklin County will need over 600 new housing units across the board (rental units encompassing market rate, affordable and subsidized; single-family and multifamily homes; senior housing in the form of assisted and independent living as well as memory living; and for sale market homes) through the year 2025. The highest need for housing units rests in senior housing, of which approximately 393 units will need to be created.

     The study divides Franklin County into four submarkets to better tailor outlying data to specific areas. These submarkets include Sheffield (consisting of the towns of Sheffield and Chapin), West Central Submarket (consisting of Alexander, Latimer, Coulter and the East portion of Dows), South (consisting of Popejoy, Bradford and a portion of Ackley) and Hampton (which includes Hampton proper, Hansell and Geneva). Population in the county is divided among these submarkets, though when evaluated as a whole follow statewide trends.

    Read the full article in the June 15 edition of the Press.