APPLETON, WI (WTAQ-WLUK) – The demand for housing in the Fox Cities is showing no signs of slowing down, causing trouble for some wanting to buy a home.
Multiple studies find the area will need to add around 18,000 new residential units by 2030 to keep up.
Neenah resident Eric Wurm has been on the hunt for a new place to call home in Appleton for about a month.
“First couple weeks, a lot of the ones I looked at were pretty, eh — wasn’t a big fan,” said Wurm. “I did put an offer in on a couple, but it seems my price point’s a super hot commodity, especially for first-time home buyers.”
He says finding a home to buy has been quite a challenge.
“Going up against families, I mean everyone’s out there, but they have the two incomes, and I’m just a single dude with one income,” said Wurm.
According to the Wisconsin Realtors Association, demand is weak in 2023 because of affordability issues. The low number of homes available for purchase is also putting a pinch on the market, according to the group’s March report.
“We’re all just trying to make it work, and there’s just not enough houses for us all that are trying to get out of rent and get the American dream of owning,” said Wurm.
Kara Homan, Appleton’s community development director, says the need for housing is driven by population growth.
“The city of Appleton and the broader region is one of the fastest growing metropolitan areas in the state of Wisconsin.”
She says finding a place to live is more difficult because of more people wanting to live in the Fox Cities.
“The study in question that recommended about 18,000 new units was for the entire region, so that included all of Outagamie County and the Fox Cities that touch the northern portion of Winnebago County.”
Out of those 18,000 units needed by 2030, Appleton is needing 2,500 to 4,000 of them.
But the study shows that around 51% of housing in the city would have to be directed towards lower-income residents.
“From a rent perspective, the rule of thumb by the federal government is 30% of your household income. So, for that low to moderate income rent, on the low end, it’s anywhere from $630 a month or less, upwards to moderate income from about $1,700 to $2,500 for housing costs,” said Homan.
When asked about what the city does to implement housing strategies and support housing development, Homan says Appleton has been proactive.
“We run a housing rehabilitation program to make sure that our housing stock is kept up and we don’t lose stock from the marketplace,” said Homan.
As for Wurm, he says he’ll be using different strategies in hopes to find his dream home.
“It’s best to go off-market it seems to try and get one before it hits the market. So, that’s kind of one route we’re looking at.”
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