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Tuscaloosa County to need 8,600 new housing units, analysis shows

Tuscaloosa County will need almost 8,600 new housing units over the next five years, but the overwhelming majority of them — 72 percent — will be in the price range of less than $125,000.

That’s the finding of an analysis of the Tuscaloosa housing market by the Alabama Center for Real Estate, MarketGraphics Southeast and Zanola Co. LLC, a real estate research and business improvement services firm.

The analysis released this week shows housing starts in Tuscaloosa County bottomed out in 2011 after a four-year free fall.

Very interesting article details the projected housing needs for the area over the next decade. One important point to take away from the report is that student housing needs are being met and only a marginal increase will be needed.

- Student housing, which the study defined as housing specifically designated for college students, might need 300 to 699 units. The analysis said such housing “is inherently tied to increasing University of Alabama enrollment,” but it will be at a lower pace than the past few years.

“Based on the currently approved new student housing projects to be built, caution is recommended for approving additional student housing projects for the term of this forecast,” the study said.