Over the past two years, headlines in the housing market have dominated news cycles. From housing shortages to exorbitant home prices, we’ve all heard about how the pandemic has affected nearly every housing market across the country. Many of us have experienced the phenomenon first hand. But while the pandemic has certainly impacted the housing market, many other factors have spurred housing growth in counties across the country — and those factors aren’t as widely discussed.
Take for example, massive impact the oil boom has had on housing in the Midwest. Between 2007 and 2012, employment in North Dakota’s oil and gas industry increased by 354%, resulting in a population growth of 19% in western North Dakota alone. As oil companies and oilfield workers continue to move in, sleepy towns and counties have been upended by the sudden influx of residents. While more jobs can boost the economy, rapid growth can also cause cities to struggle to meet demand for health services, roads, transportation and housing.
So which counties have seen the most housing growth over the past decade and why? Better Mortgage, an online lender and homeownership platform with a mortgage calculatorused US Census Bureau data decennial census to calculate which counties had the largest increase in housing units over the past 10 years. Counties are ranked based on the percentage change in housing units between 2010 and 2020, and the top 20 counties with the highest housing growth were selected for the national history. Housing census data was released on August 12, 2021 for all counties in America. Here’s what you need to know about your condition.
Georgia in numbers
#14. Forsyth County
– Evolution of housing (2010-2020): 23,529 (+36.7% since 2010)
– Housing units (2020): 87,581
– Housing (2010): 64,052
Whole swaths of new residents have moved to Forsyth County, Georgia over the past 10 years, and the area’s proximity to Atlanta and the Blue Ridge Mountains has been a big draw. The county grew by more than 43% from 2010 to 2020, and at the end of 2021, Forsyth was the fastest growing county in the Atlanta metro. With more residents comes the need for more housing, which has been a major factor in the significant housing growth in Forsyth County over the past decade. Developers had to build more units to accommodate the nearly 50% population growth, but the vacancy rate remained low. It is therefore likely that more new accommodations will also be added in the future.
#11. Bryan County
– Evolution of dwellings (2010-2020): 4,861 (+41.0% since 2010)
– Housing (2020): 16,703
– Housing (2010): 11,842
Bryan County was the fastest growing county in Georgia over the past decade, and this has had a significant impact on the rate of housing growth in the region. Part of the Savannah metropolitan area, Bryan County has a thriving economy that draws new residents and job seekers to the area in droves, resulting in the continued need for more housing. Bryan County is also home to the nation’s fastest growing container port, Port of Savannah, which is one of the state’s largest public employers. Other factors, such as a focus on building high-end residential developments, have added even more housing inventory to the mix, but the area maintains a low vacancy rate despite all the new development.
In other parts of the country, rapid rates of housing growth have other catalysts, including urban sprawl and economic growth. And, in rare cases, the growth may even be caused by an unprecedented influx of retirees moving into the area. The only consistent factor in these counties is that the subsequent housing growth has had a significant impact on the housing market.
Keep reading to see which counties have been at the peak of the housing market boom over the past decade.
Counties that have experienced the strongest housing growth over the past decade
#1. McKenzie County, North Dakota: 4,571 dwellings added from 2010 to 2020 (+147.9% since 2010)
#2. Williams County, North Dakota: 9,763 homes added between 2010 and 2020 (+93.3% since 2010)
#3. Hays County, Texas: 34,117 housing units added between 2010 and 2020 (+57.4% since 2010)
#4. Dallas County, Iowa: 13,865 homes added between 2010 and 2020 (+50.9% since 2010)
#5. Comal County, Texas: 22,831 housing units added from 2010 to 2020 (+48.5% since 2010)