A new Statewide Housing Needs Assessment conducted by researchers at North Dakota State University’s Center for Social Research and the North Dakota Housing Finance Agency reveals that baby boomers will be the driving force behind housing needs in North Dakota in the coming years. The study projects a substantial increase of 22% in the number of householders aged 65 and older by 2027 in all eight planning regions of the state. Despite higher household incomes, there has been little change in the number of moderate-income households in North Dakota, with the majority earning less than $75,000 annually. The assessment predicts a 4% population increase in the state by 2027, leading to the need for an additional 20,000 single- and multifamily housing units. NDHFA Executive Director Dave Flohr emphasized the importance of developing housing options that cater to the needs of an aging population and lower-income working households in light of these findings. Overall, the study highlights the pressing need for affordable housing solutions for North Dakota residents across all income levels.
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