Bankers warn San Angelo housing supply lags job growth as city reviews zoning and subdivision rules
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Summary
Speakers said job growth (about 5,800 jobs in Tom Green County since 2020) is outpacing housing production and pointed to comprehensive plan and subdivision-ordinance reviews as immediate steps to address shortages.
Bankers at a San Angelo panel said the city's housing production is struggling to match rapid job gains, especially for entry‑level buyers, and that municipal planning and subdivision rules are the immediate lever to increase feasible supply.
Luke Urich, the market president who cited a recent housing study, said Tom Green County added about 5,800 jobs between 2020 and 2024 and that the report links job creation to housing needs. "If we're ever 2 jobs that are created, there needs to be an additional house, added," Urich said while describing the study's housing‑to‑jobs relationship.
Panelists said construction costs and higher mortgage rates have made it harder for many would‑be sellers to relocate and for first‑time buyers to enter the market. Ray Montgomery and Brandon Braden noted the economics of renovation versus new construction and said lenders are targeting projects that make sense after renovation or with realistic lease assumptions.
Urich applauded recent progress — including a passed bond to upgrade San Angelo ISD (SASD) facilities — but stressed physical constraints such as rivers, floodplains and topography that shape where subdivisions can go. He said a committee is reviewing subdivision ordinances and the planning commission is updating the comprehensive plan to loosen lot‑size constraints and encourage smaller, more affordable lots.
The panel offered no formal policy proposals but recommended continued coordination between lenders, developers and city planning staff to turn study findings into actionable zoning and subdivision changes.