Georgia’s population growth is outpacing national growth, and companies are moving to the state because it’s an attractive place to do business. At the same time, housing costs are increasing, and the supply of affordable housing for the growing workforce is not keeping up with demand. In response, Enterprise Southeast, in partnership with Georgia Advancing Communities Together and the Center for Community Progress, has released the "Georgia Statewide Housing Needs Analysis" conducted by KB Advisory Group.
"Investing in Affordable Housing Benefits Georgia Businesses and Workers," summarizes key findings from the report:
- From Rivian to Hyundai, companies are moving to Georgia because it’s an attractive place to do business, but more housing supply is needed to accommodate this growing workforce.
- Between 2010 and 2020, Georgia grew by more than 1 million people and added over 532,000 new households.
- Housing supply in Georgia is not keeping pace with our population growth. Overall, Georgia produced fewer new residential structures in the 2010s compared to the four preceding decades.
- All the twelve regions in Georgia have witnessed an increase in average home prices and rent growth since 2010.
- To accommodate Georgia’s projected growth, make up for years of undersupply, and modernize the housing stock, an estimated 715,000 housing units must be built over the next decade.
Download the summary below, or you can read the full "Georgia Statewide Housing Needs Analysis," which quantifies the housing need in the state over the next decade, benefits of addressing the need to the local economy, and opportunities to access and dedicate revenue sources to housing trust funds.
- Case Study