MenuHousing's Impact on the Local Economy
Phase 1: Local Industries Involved in Home Building
Phase 2: Ripple Effect
Phase 3: Ongoing, Annual Effect
Click on the study below to view the results:
- Income, Jobs & Taxes Generated
- Comparing Costs to Revenue for Local Governments
The Housing Policy Department of the National Association of Home Builders (NAHB) maintains an economic model that it uses to estimate the local economic benefits of home building.
Originally developed in 1996, the model was at first calibrated to a typical metropolitan area using national averages, but from the beginning was capable of being adapted to a specific local economy my replacing key housing market variables.
As of January 2008, the Housing Policy Department has produced over 500 of these customized reports analyzing residential construction in various metropolitan areas, non-metropolitan counties and states across the country.
The results from NAHB's local impact model have been used by outside organizations such as university, state housing authorities and affordable housing agencies.
This detailed study shows such information as:
- Money generated in local income and taxes for government
- Jobs generated not only by those in the home building industry but also potentially new jobs for those who move into the new homes
- The ecomonic impact of 581 single family units built versus 843 multi family units built in Sioux Falls in 2008
