In March 2023, Eau Claire County, the City of Eau Claire, and the City of Altoona partnered to undertake a regional housing study aimed at examining housing market conditions across the county, as well as identifying issues and opportunities that the county and its communities may seek to address in the future.
The project was guided by County Planning staff, staff from each city, and a steering committee of residents with professional knowledge or responsibilities regarding housing issues. Consulting firm CZB was retained to complete the study on behalf of the partner organizations.
Study Highlights
Here are the key points uncovered by the study:
1. Rising Home Prices
Since 2013, the average sale price of homes in the region has increased by nearly 100%. This sharp rise in prices has significantly impacted housing affordability.
2. Housing Demand & Supply Imbalance
The study highlights a mismatch between housing demand and supply, particularly affecting middle- and lower-income households. While household formation is rising faster than the rate of new home construction, there is a shortage of affordable housing options.
3. Affordability Issues
There is a notable shortage of homes priced for households earning $75,000 or less, with only 23% of listings being affordable for this income bracket, compared to 51% of households in this earning category.
4. Population Growth & Housing Needs
Slow but steady population growth in Eau Claire County has created a consistent demand for housing. The study underscores the need to understand these demographic changes to plan effectively for future housing needs.
5. Community Engagement
The study involved significant community input through surveys and open houses, gathering perspectives on housing affordability, new development, and other related concerns.
6. Recommendations
The study provides strategic recommendations for local governments to address the identified issues. These include increasing the supply of affordable housing, encouraging diverse housing development, and ensuring that new developments are well-planned to meet the needs of the community.
The completed study has been presented to the Eau Claire City Council and Plan Commission at a Zoning Policy Advisory Committee meeting.
About The Author
Jake Wiensch
Economic Development Supervisor
Jake works on the Eau Claire Economic Development Division’s large business attraction and retention initiatives and oversees our financial and property assistance programs.
