County housing study to be conducted as prices soar

With housing prices rising faster in Ozaukee County than incomes, county supervisors last week voted to award a $72,000 contract to a Milwaukee firm to conduct a housing needs assessment.

The contract calls for Baker Tilly to assess housing affordability in the county.

Ozaukee County has budgeted $50,000 for the study while local municipalities and Ozaukee Economic Development have pledged $26,000 toward the study.

Mequon, Port Washington, Grafton and OED have each pledged $5,000, while the villages of Saukville and Thiensville each pledged $2,500, Village of Belgium $600 and the Village of Fredonia $500.

Baker Tilly was one of 16 firms that submitted proposals for the study. Five of them were interviewed.

“The selection committee was particularly impressed by Baker Tilly’s data collection and public engagement methods, and their understanding, framework and approach to the housing affordability issue in Ozaukee County,” county Policy and Budget Analyst Jason Wittek said in a memo to the county Executive Committee.

In its proposal Baker Tilly said the housing pipeline in the county is active but not sufficient or “fully aligned” with the market.

Trends noted in the firm’s proposal is that since 2019 rents have risen 24.5%, home prices have risen by 38.1% but incomes have risen just 13%.

Meanwhile, the number of renters has grown by 3% while the number of homeowners has fallen by the same number.

The number of jobs in the county grew by 1,313 in the last five years but only 1,214 jobs are expected to be created in the next five years.

The study is expected to be completed by the end of the year.