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Lea County Housing Needs Study

Lea County Housing Needs Study. September 20, 2005. Study Performed by : Gruen, Gruen, and Associates. For Lea County Housing, Inc. Study Funding Sponsors:. Lea County, New Mexico City of Hobbs, New Mexico City of Eunice, New Mexico. Reasons for Housing Study.

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Lea County Housing Needs Study

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  1. Lea County Housing Needs Study September 20, 2005

  2. Study Performed by :Gruen, Gruen, and Associates For Lea County Housing, Inc.

  3. Study Funding Sponsors: • Lea County, New Mexico • City of Hobbs, New Mexico • City of Eunice, New Mexico

  4. Reasons for Housing Study • Pending Approval and Construction of the $ 1.4 billion NEF Project in Eunice that will bring 500 construction jobs and 200 permanent jobs to this area. • Expanded Tourist and support businesses being developed as a result of the Casino/Racetrack Complex. • Expanded Oil business and support services activity resulting from favorable oil prices. • Limited Housing Stock Availability.

  5. Housing Study Finding: • The Total Projected Demand for New and Replacement Housing in Lea County between 2005 and 2020 is 5,200 units. • This housing demand is equivalent to 350 housing units per year. • Presently, approximately 50 homes per year are being constructed.

  6. Housing Need Breakdown2005 - 2020 • City of Hobbs – 2,652 units • Lea County (outside cities) – 1,144 units • City of Lovington – 884 units • City of Eunice – 260 units • City of Jal – 208 units • City of Tatum – 52 units

  7. Job Growth Projections: • Analyzed historical data and new business additions to project a 1% job growth rate per year. Total Employment is Projected below: To verify that this study is based on conservative assumptions, the total employment in Lea County from the NM DOL as of March, 2005 was 24,611, which is greater than the 2010 projection.

  8. Need for Replacement of Aging Housing Percentage of Homes built prior to 1970 Lea County – 55 %

  9. Mobile Homes as Housing Units Percentage of Mobile Homes in each Community Percentage of Mobile Homes in Lea County – 17.1 %

  10. Projected Demand for “For Sale” Housing Units by Price Range

  11. Special Needs Housing:Disabled Population in Lea County • * Refers to Population over the age of 5 • The percentage of Disabled People in Lea County is 14.1 % • The percentage of Disabled People in the U.S. is 14.9 %

  12. Special Needs Housing:Senior Households in Lea County

  13. Total and Annual Housing Needs in Lea County: 2005-2020

  14. Projected Total and Special Housing Needs in Lea County: 2005-2020

  15. QUESTIONS ?

  16. Thank you for your sponsorship of this Study The Housing Study has been sent as a PDF file to the County Manager’s Office. The Housing Study has also been reproduced in the County Commission Packets for this Meeting. Thank you again for your support. With your help, LCHI is working to meet the Housing Needs of the entire Lea County Region.

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