The Workforce Housing Center, a new center focused on addressing the emerging issue of housing affordability in NWA, launched yesterday (3/18) with support from the Walton Family Foundation and the Northwest Arkansas Council.
NWA is experiencing rapid growth that is projected to continue in the region for at least the next 25 years, and homebuilders may not be able to keep up with the rising demand. For reference, at the end of 2020, there were 731 homes
listed on the market in NWA, with an average price of $386,108...
Teachers, firefighters, health care workers and other residents face increasing obstacles in finding housing at affordable rates relative to their incomes, said
Nelson Peacock, President and CEO of the Northwest Arkansas Council.
A 2019 study
by the Walton Family Foundation found that housing affordability is a rising concern as it is increasingly inaccessible for workers, families, and seniors in Northwest Arkansas. Peacock continues, “These barriers often prevent people from living in and contributing to the richness of the communities where they work. Ensuring our residents have quality, attainable homes must be a priority." -WFF
You can find the full press release and other resources HERE