Housing Needs and Market Analysis

 

Background Information


The Greater Fargo-Moorhead metropolitan statistical area (MSA) population has grown nearly 18 percent since 2010, from approximately 209,000 to over 246,000. The 2020 MSA population exceeded the 2020 projections that were made in 2010 by approximately 5,000. The 2035 population projection developed in the Fargo-Moorhead 2016 Demographic Forecast ranges from 309,000 to 317,000. The 2045 projection is 330,000 to 342,000. These projected growth levels, combined with the initiation of the FM Diversion, the recent groundbreaking on the Career Workforce Academy, and the continued growth of the metropolitan area as a medical, agricultural, educational, technical, cultural, and transportation hub of the region have resulted in concerns about the housing market and the extent to which the region is currently meeting the needs of its current and future workforce, as well as the needs of other sectors of the population, and the changes that may need to be implemented in the future to meet the housing needs of this growing metropolitan area.

 

Project Objective


The purpose of this study is to collect data and document the housing needs and demands of the region in conjunction with a market analysis for both the very near-term and out to the year 2032 (ten-year forecast). In addition to data analysis, the scope of the study includes providing case study examples that demonstrate how to successfully implement the type of housing that is needed and desired. Case study examples will be those that are not currently in use within the MSA, aimed at ways to meet identified needs. Local leaders, planning departments, and community development officials are concerned that steps taken to meet today’s needs and demands contribute to the longterm sustainability and quality of our housing market, rather than becoming blighted and unsustainable at some point in the future.

The study area will include the Cass County, ND and Clay County, MN MSA, with primary focus on the cities of Dilworth, Fargo, Horace, Moorhead and West Fargo. In addition, consideration will be given to communities in the surrounding areas within Cass and Clay County, including Barnesville, Glyndon, Hawley, and Sabin, MN and Argusville, Casselton, Harwood, Kindred, and Mapleton, ND and several other smaller cities in both counties which are currently showing evidence of attracting new housing. Local leaders are interested in how the housing and demographic inputs impact the housing market as a whole, and to what extent policies and laws are affecting housing development. If feasible, a housing data collection and metric system will also be created to track housing trends in our future.