Home Uncategorized Tennessee has one of the 20 counties with the strongest housing growth over the past decade | State

Tennessee has one of the 20 counties with the strongest housing growth over the past decade | State

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Over the past two years, headlines in the housing market have dominated news cycles. From housing shortages to exorbitant home prices, we’ve all heard about how the pandemic has affected nearly every housing market across the country. Many of us have experienced the phenomenon first hand. But while the pandemic has certainly impacted the housing market, many other factors have spurred housing growth in counties across the country — and those factors aren’t as widely discussed.

Take, for example, the massive impact of the oil boom on housing in the Midwest. Between 2007 and 2012, employment in North Dakota’s oil and gas industry increased by 354%, resulting in a population growth of 19% in western North Dakota alone. As oil companies and oilfield workers continue to move in, sleepy towns and counties have been upended by the sudden influx of residents. While more jobs can boost the economy, rapid growth can also cause cities to struggle to meet demand for health services, roads, transportation and housing.

So which counties have seen the most housing growth over the past decade and why? Better Mortgage, an online lender and homeownership platform with a free mortgage calculator, used data from the US Census Bureau’s Decennial Census to calculate which counties saw the biggest increase in units housing over the past 10 years. Counties are ranked by percentage change in housing units between 2010 and 2020, and the top 20 counties with the fastest housing growth were selected for national history. Housing census data was released on August 12, 2021 for all counties in America. Here’s what you need to know about your condition.

Tennessee by the numbers

#20. Williamson County

– Evolution of dwellings (2010-2020): 22,635 (+33.0% since 2010)

– Housing in 2020: 91,133

Williamson County, Tennessee, which borders the city of Nashville to the southwest, has seen explosive growth in housing numbers over the past 10 years, and much of that is due to a high concentration of wealth in the region. In 2019, Williamson County was the only county in Tennessee with a median household income over $75,000 – and the only county in the state with a poverty rate below 5%. In other words, there has been plenty of money in this county to support home purchases over the past decade, and new residents have continued to flow into the area, keeping housing demand at a low level. high, but also pushing home prices higher and higher in tandem.

In other parts of the country, rapid rates of housing growth have other catalysts, including urban sprawl and economic growth. And, in rare cases, the growth may even be caused by an unprecedented influx of retirees moving into the area. The only consistent factor in these counties is that the subsequent housing growth has had a significant impact on the housing market.

Keep reading to see which counties have been at the peak of the housing market boom over the past decade.

Counties that have experienced the strongest housing growth over the past decade

#1. McKenzie County, North Dakota: 4,571 dwellings added from 2010 to 2020 (+147.9% since 2010)

#2. Williams County, North Dakota: 9,763 homes added between 2010 and 2020 (+93.3% since 2010)

#3. Hays County, Texas: 34,117 housing units added between 2010 and 2020 (+57.4% since 2010)

#4. Dallas County, Iowa: 13,865 homes added between 2010 and 2020 (+50.9% since 2010)

#5. Comal County, Texas: 22,831 housing units added from 2010 to 2020 (+48.5% since 2010)