Housing Needs Analysis for the City of Bloomington
Comprehensive Housing Needs Analysis for Bloomington
The Bloomington Housing and Redevelopment Authority (HRA) engaged Maxfield Research and Consulting to conduct a Comprehensive Housing Needs Analysis. Completed in April 2017 and revised in May of 2018, the study projects the projects housing demand from 2017 to 2030 and provides recommendations on the amount and type of housing for Bloomington that could be built to satisfy housing needs from 2017 to 2025.
The study estimated a potential demand for 1,455 to 1,895 new housing units to 2025. Due to the aging population of Bloomington residents, the report estimates that 44% of the total demand will be for age-restricted housing types. Demand for housing at entry-level and move-up is strong for non-senior buyers, but land scarcity and high development costs for traditional housing remains a barrier to creating new housing for younger buyers.
Please see the complete study at the link below. The Executive Summary, beginning on page 1, provides a good overview of the findings of the study.