Juneau Housing Needs Assessment – City and Borough of Juneau (2010, 2013)

Economic Research
The Challenge: 

The number of new housing units permitted and built in Juneau has not kept pace with local demand, while at the same time single family homes sales prices are at an all-time high. In the rental market, low income residents are being pushed out of affordable rentals by median and above median income households. The number of households with incomes over $100,000 renting rather than owning their homes increased over 90% between 2000 and 2010, far outpacing growth of the rental market overall. Through JEDC ‘s support of the work of the Juneau Affordable Housing Commission and the Juneau Homeless Coalition, both groups focusing on the availability and affordability of housing for Juneau’s residents, it became clear there was a need to clarify how much and what types of housing is available to meet the different needs of Juneau’s population.

The Solution: 

Baseline economic profile of the Juneau housing market: In November 2010, JEDC published the first Juneau Housing Needs Assessment. A follow up study was completed in November, 2012. The study includes an analysis of the household characteristics, income, education and employment of Juneau residents; an examination of current and projected employment levels and projected wage rates of workers employed in Juneau’s primary industries; an analysis of past and projected housing production and price points; a discussion of barriers to development, including the availability of developable land; and a model that compares housing supply with demand, as defined by household income levels. The report recommended that about 500 single family homes and 200 fair market rental units are needed to ease the tight housing market and bring vacancy rates to a 5% level.