Housing Needs Assessment

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Wilkes Economic Development Corporation (EDC), in partnership with the Wilkes Chapter of the Winston-Salem Regional Association of REALTORS®️ (WSRAR) and the North Carolina Homeowners Alliance (NCHA), commissioned Bowen National Research in the Summer of 2020 to conduct a Housing Study in Wilkes County, NC. 

The study considered various demographic, economic, and housing metrics, as well as other factors that impact and influence housing. An Executive Summary has been provided, as well as the complete report.

Executive Summary

Key Points

Based on the findings contained in this report, we have provided an outline of possible recommendations and opportunities that exist in Wilkes County, North Carolina.

  • 995 Additional Rentals and 1,511 For-Sale Units Needed Over the Next 5 years

    • Based on the current composition and projected changes among household types, including household sizes, it is anticipated that a majority of the rental units that will be needed will consist of one-and two-bedroom units and for-sale housing will primarily require one-to three-bedroom units.
  • Opportunities are Diverse in Price Points Creating a Demand for a Broad-Based Approach to Support Future Growth

    • The housing needs and opportunities of the county are diverse and significant, and efforts should be placed on a broad based approach to address housing.
  • Nearly 10,0000 Commuters Travel Into the County Daily for Work Who Could Potentially be Residents

    • With nearly 10,000 commuters traveling into Wilkes County on a daily basis for work, efforts should be made to attract these commuters as potential county residents.
  • Potential Sites That Would Be Suitable for Development are Included in the Report

    • With more than 30 potential sites identified in the market, Wilkes County offers numerous opportunities with both vacant parcels for new construction projects and existing buildings that could represent adaptive reuse projects.
Full Report
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Press Release

An official Press Release containing study results, funding amounts and quotes from our professional partners can be found below.

View Release

Professional Partners

 

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Bowen National Research

- conducts real estate market analyses on a variety of housing and commercial development alternatives in markets throughout the United States. Ranging from preliminary market assessments or full market feasibility studies. BNR has engaged with over 70 counties in North Carolina.

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Winston-Salem Regional Association of REALTORS®

- is a real estate trade association serving real estate professionals in Forsyth, Stokes, Davie, Yadkin, Wilkes, and northern Davidson counties as the voice for the Real Estate Industry in the Winston-Salem Piedmont Area. The mission of the WSRAR is to be the leading resource for real estate professionals, to advocate for private property rights and to be an integral part of the community. The Wilkes Chapter of the WSRAR spearheaded this project.

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The NC Homeowners Alliance

- represents the interests of property owners in the General Assembly and raises awareness of issues and legislation that affect consumers' most important investment: their home

For more information on Housing Needs in Wilkes County, please contact LeeAnn Nixon at 336-838-1501 or LNixon@WilkesEDC.com

Presentation from September 22, 2020 at 8:30am | Stone Center for the Performing Arts