Study: Will County sees 6.9% growth in total housing units over past decade
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 homebuyers 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 Will County, IL:
- Between 2012 and 2022, Will County’s housing stock increased by 6.9%, while its population grew by 2.1%.
- Over that same span, the median home price in Will County increased by 72.2%.
- Overall, Will County experienced a smaller percentage increase in total housing units over the past decade than the country as a whole (+8.5%).
Housing Growth by Location
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Here is a link to the complete results of the analysis, with data on nearly 800 U.S. counties (grouped by size) and all 50 states. To see fur study click here https://constructioncoverage.
