Economic Analysis for Lakes Region Planning Commission

Maegan, Allison, Braedon

Introduction

http://www.nhbr.com/July-21-2017/Whats-the-economic-impact-of-second-homes-in-New-Hampshire/

http://www.nhhfa.org/news/new-housing-market-report-data-shows-inadequate-supply-to-meet-states-housing-needs

http://nhpr.org/post/what-kind-housing-does-nh-need-and-why-dont-we-have-enough-it#stream/0

http://www.concordmonitor.com/nh-rental-market-is-tough-and-getting-worse-housing-survey-says-11200068

Article Findings

-Home prices still rising in most areas of the state

-Low vacancy rates and a shortage of units in rental housing in most regions of the state

-Affordability for renter households (paying no more than 30% of income towards housing costs) remains a problem in most areas of the state

Dotplot

Column chart

Geofacet

Conclusion:

Our research question states “Given a limited income, such as college students living on a budget, how possible is it for them to rent/buy a home in New Hampshire?”. Throughout our research process we have come to the conclusion on why it is much harder for young adults to purchase/rent a home. One of our articles state that “While New Hampshire is a relatively high-income state, perhaps well-positioned to afford high rents, many of the new jobs that are being created are in low-wage industries such as retail and food service.” Many young adults who have not landed a well-paying job straight out of school get sucked right back into the low-paying wages just to make ends meet untill a well paying job comes around. Also, looking back at our collumn and our geofacet graph, you can see there is a small amount of towns that actually have available rentals and there is a large amount of towns who clearly have little available rentals. This also makes it harder on young adults to find an apartment/house in their given income rate.