Keeping Up with Kerrville: Addressing our housing needs a top priority - hccommunityjournal.com: Opinion

Keeping Up with Kerrville: Addressing our housing needs a top priority

Posted: Wednesday, July 10, 2019 12:00 am

The lack of affordable housing that has hindered the local real estate market in recent years is certainly not a phenomenon unique to Kerrville. Across the United States, home prices are rising at twice the rate of wage growth, while at the same time the demand for housing is outpacing the current supply.

Locally, the lack of new housing starts has played a key role in Kerrville’s currently sparse housing options. Almost 84 percent of the homes in Kerrville were built before 2000. The downturn in new, affordable home construction over the past two decades has been fueled by both the recession of 2007-09 and rising land prices in more recent years. As a result, the median value of a home in Kerrville today is close to $200,000, according to the website Neighborhood Scout. (The national median home value was $250,000 in the third quarter of 2018 per an article in the National Association of Realtors’ publication, “The Evolving Form of Housing.”)

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