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Consultant: West Bend and Washington County face tight rental market and a gap in ‘mainstream’ for-sale housing
Summary
A housing market study presented to the West Bend Common Council found very low rental vacancy, a shortage of mainstream for-sale product, and recommended a mix of higher-density for-sale and larger-scale rental projects, value-engineering and public–private coordination to meet demand.
John Fellows introduced Eric Dorshing, president of Tracy Cross & Associates, who presented a housing market study for West Bend and Washington County. Dorshing said Washington County’s rental market is “as tight as we’ve seen” with a countywide stabilized vacancy around 1.0 percent and West Bend’s stabilized developments at about 1.4 percent, compared with a 3.1 percent rate for the Milwaukee region. He called those rates “undersupplied.”
Dorshing emphasized a growing disconnect between household incomes and new-construction prices. He said new-construction single-family prices have risen sharply and that resale homes…
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