[DetroitMan]

Northwest Michigan needs 31K housing units by 2027 to meet demand, study finds

The northwestern Lower Peninsula will need 31,268 housing units by 2027 to keep up with demand, according to a recent needs assessment by a housing advocacy nonprofit. Housing North — a nonprofit housing organization that serves Antrim, Benzie, Charlevoix, Emmet, Grand Traverse, Kalkaska, Leelanau, Manistee, Missaukee and Wexford counties — worked with Bowen National Research over the past nine months to conduct the Northwest Michigan Housing Needs Assessment.

The study seeks to arm communities with information to overcome their housing challenges and follows similar assessments in West Michigan. Housing North Executive Director Yarrow Brown said the report will also provide important data to the Statewide Regional Housing Plan, a five-year initiative that Gov. Gretchen Whitmer announced last year to address the state’s housing shortage.

The Michigan State Housing Development Authority (MSHDA) is partnering with local housing organizations in 15 regions across Michigan to accomplish Whitmer’s goals, which include creating or rehabilitating 75,000 housing units that range in affordability and housing type. Reducing equity gaps in housing, reducing homelessness and increasing home energy efficiency are also among the statewide housing goals.

The state selected Housing North to lead the housing effort in the northwestern Lower Peninsula.

“This study was already underway, but it will help inform the (Statewide Regional Housing Plan),” Brown said. “The timing is kind of impeccable — we’re really excited that we have it to help inform the next steps of our regional housing plan.”

The Northwest Michigan Housing Needs Assessment shows a need for 8,813 rental units in Housing North’s 10-county region over the next five years, and a shortage of about 22,455 for-sale homes in the same timeframe.

The highest demand for for-sale homes in the region comes from households earning 81%-120% of the area median income. Around 5,977 housing units are needed for households earning 120% or more than the area median income (AMI), according to the study.

“We were a little surprised that there are that many for-sale units that are needed,” Brown said. “While it was a bit of a surprise, most people would like to be in a homeownership situation.”

The region’s for-sale housing needs represent more of the “missing middle” population, while the bulk of the area’s rental needs are from people making 50% or less of the area median income, Brown said.

https://www.crainsgrandrapids.com/ne...d-study-finds/