Consultant: Florence faces five‑year gap of about 6,016 housing units, study finds

Patrick Bowen, principal of Bowen National Research, told the Florence City Council the city faces a significant mismatch between housing demand and local supply, estimating a five‑year housing gap of about 6,016 units.

Bowen presented demographic, vacancy and sales data showing that the study area will add household growth through 2030 and that many existing residents and commuters cannot afford typical rents and home prices in Florence. "You are gonna need at least 500 new units over the next 5 years to meet up with growing need," Bowen said, adding that the full housing gap figure includes preservation and rehabilitation needs as well as new construction.

Why it matters: Bowen flagged a constellation of problems that affect local employers and the municipal tax base: limited affordable rental inventory, a high share of cost‑burdened households and a large daily inflow of commuters who earn wages but often spend outside the city. He reported more than 32,000 people commute into Florence daily and showed that vacancy among subsidized and tax‑credit housing is extremely low—about…