Solving the Burke County Housing Crisis

 

Carl Beardsworth has always had a passion for helping people. This passion led him to getting his real estate license in 2017 with the goal of assisting buyers in the American dream of owning their own home.  After a few years in the business Carl became frustrated with the difficulties of obtaining a loan for many lower income borrowers and felt he could make a bigger difference as a loan broker educating and working tirelessly to provide the funding so desperately needed to these hardworking buyers.  Unfortunately as the pandemic wore on an affordability crisis began to take shape.  The lack of available homes in our area led to dramatic pricing increases and that same American dream again became out of reach to many buyers.  Frustrated in his role as a mortgage broker Carl has decided to reenter the housing market as a real estate agent with the goal of creating workforce housing for our teachers firefighters policemen nurses and so many other underappreciated members of our workforce that make this country go.  Carl has identified the biggest need in Burke county just west of Hickory and has hit the ground running beginning with phase 1 of solving this crisis.  Phase 1 entails bringing more buildable land to the market and courting builders who also share a passion for workforce housing.  This process will take time with multiple phases needed to solve this crisis But he expects to have several hundred acres online within the next several weeks.  Please read more below about the crisis and how you as a landowner or builder can help solve the problem. 

 

Burke County Housing Needs Assessment - 2023 Insights and Recommendations

Burke County, North Carolina, has experienced significant demographic and economic shifts over recent years, creating unique housing needs. In a comprehensive Housing Needs Assessment conducted by Bowen National Research, key insights were identified, pinpointing current and future housing challenges and opportunities in the county. Here’s an overview of the findings and recommended strategies to address Burke County’s housing needs.

Demographics and Population Trends

Between 2010 and 2020, Burke County's population slightly decreased, contrasting with North Carolina's overall growth. However, a modest increase of 0.6% was recorded from 2020 to 2023. Looking ahead to 2028, the county expects a 1% population rise, with a significant increase in senior households projected. Notably, over half of all households in Burke County are senior-led, pointing to a growing demand for senior-oriented housing options.

Economic Landscape

Burke County’s economy is heavily influenced by the manufacturing and healthcare sectors, providing essential employment opportunities. However, many workers face housing affordability issues due to lower wages compared to state averages. With an estimated 14,000 individuals commuting to the county daily for work, the demand for affordable, local housing remains high.

Housing Supply and Affordability

The county has limited availability in both rental and for-sale housing markets:

• Rental Market: With a high occupancy rate of 97.3%, vacancy in rental units is minimal, leading to increased rental costs. Since 2018, rental rates for common unit types have risen between 76% and 140%, with the largest gaps in affordable units priced below $891/month.
• For-Sale Market: Burke County’s housing inventory has decreased by almost half since 2018, resulting in a market with only 1.7 months of available inventory, well below the healthy range of 4–6 months. This low supply has pushed median home prices up by over 60% since 2019, reducing the availability of affordable options, particularly for first-time homebuyers.

Community Feedback on Housing Needs

The report’s community engagement found widespread concerns about affordability and availability:

• Stakeholders highlighted the need for affordable workforce housing and targeted solutions for single professionals and young families.
• Employers noted that housing challenges impede staffing, increase costs, and hinder expansion efforts.
• Residents and Commuters expressed dissatisfaction with the local market’s limited options and high prices.
• Developers cited barriers such as financing, high labor/material costs, and zoning restrictions, limiting new construction.

Identified Housing Gaps

To address current and future needs, the study estimates a five-year housing gap of 4,822 units across rental and for-sale markets, with specific shortfalls in lower-cost rental housing and moderately priced for-sale homes. Meeting these demands will require both policy adjustments and development incentives to encourage affordable housing projects.

Recommended Strategies for Burke County

The Housing Needs Assessment offers several strategic recommendations:

1. Set Clear Goals and Prioritize Action: The county should establish short- and long-term housing goals, focusing on policies to support new developments and affordable housing initiatives.
2. Establish a Housing Committee: A committee or dedicated housing director could provide ongoing oversight and help implement the county’s housing policies and programs.
3. Encourage Senior-Oriented Housing: Given the county’s aging population, senior-oriented housing—including affordable rentals and independent living options—should be prioritized.
4. Policy Adjustments and Incentives: Burke County can promote development by modifying density regulations, waiving certain fees, and supporting low-income housing programs.
5. Enhance Community Education and Outreach: Educating residents, stakeholders, and potential developers about housing programs and incentives can foster community support for affordable housing solutions.
6. Explore Partnerships: Collaborating with nonprofits, private developers, and local businesses could improve housing access and affordability.

Burke County’s path to addressing its housing needs lies in a proactive approach, engaging stakeholders, and creating a supportive environment for new housing developments. By following these insights and recommendations, Burke County can improve housing options, making it a more accessible and thriving community for current and future residents.

To work with Carl Beardsworth call (919) 616-1742