Housing study for Jackson area released
JACKSON, Tenn. — Many new jobs are coming to the West Tennessee area, but where are people going to live?
With Blue Oval City to the area, Younger Associates conducted a housing study.
The study was done to predict the amount of people that would potentially be moving to the Jackson-Madison County area over the next few years.
“With all of the economic growth occurring in Jackson, West Tennessee, a lot of it precipitated by the announcement of Blue Oval City a year and a half ago. But you add to that the growth of out existing industries. The fact that this part of the country is becoming a much more attractive place for folks to risk capital for new developments. For housing opportunities to be arranged in Jackson for startup, you need to know what the data shows. And that data shows us that in the next 10 to 12 years, there’s an opportunity for 13,000 more people at least to move to Jackson-Madison County,” said Kyle Spurgeon, the President and CEO of the Greater Jackson Chamber.
Sharon Younger says there are factors that families take into consideration when choosing a location to live. The factors include availability of housing, quality of public education, availability of high-speed internet, and commute distance to and from work.
“Number one is the availability of housing. Because nowhere in the eight county impact zone is there enough housing to house all these people. And there are a number of reasons for that,” Younger said.
With the predictions of new people moving to the area, what are the plans to have this growth come to fruition?
“What has happened now is we have positioned this community to where it is a great place to risk capital for new housing developments. But if you’re asking people to risk capital, they need to know what the data is. And it shows them how many homes do we need to have built, what are the price ranges, how many bedrooms, how much square footage,” Spurgeon said.
The concern now is how these housing developments are going to be made affordable for people to fill these homes.
The full report on this study was released Tuesday.
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