Landmark study highlights urgent housing need across income levels at Carolina Core Housing Summit

By Staff Report, posted Oct 7, 2024 on BizFayetteville.com

On Sept. 27, the Carolina Core Housing Summit revealed the findings of an extensive housing study covering all 21 counties within the Carolina Core region, spanning from the Cape Fear region to areas of the Triangle and into the foothills.

NC REALTORS®, in collaboration with Bowen National Research, conducted surveys involving thousands of individuals and employers and analyzed data from hundreds of thousands of housing units across the region.

Key findings of the report highlight a significant portion of residents facing housing cost burdens.

Housing affordability is an ongoing challenge for many of the region’s renter and owner households.
The region has an insufficient inventory of available-for-sale housing to meet existing and projected housing needs, particularly products priced under $200,000.
Feedback provided by employers in the Carolina Core region states that the majority have had difficulty attracting employees due to the area’s housing issues, while a notable share of respondents indicated that these issues have also presented barriers to employee retention.
Consideration should be given to local zoning and land use policies and if they support current and projected housing needs of each area.

“The key take-aways from the Carolina Core Needs Assessment research is that Cumberland County needs to increase the median income of its workforce. Cumberland County is one of the most affordable housing markets in the 21-county core region. All counties in the region are projected to experience positive household growth among adults. However, the region is behind on available units for rent or sale. Restrictions and regulations on developers also need to loosen in order to allow for development of the workforce housing needed in the region,” shared Mark Dow, 2024 Legislative and Political Affairs Chairman for Longleaf Pine REALTORS®.

The goal of the Carolina Core Housing Summit is to present this data and unite key decision makers around building solutions, based on important takeaways:

Housing solutions are needed across all income levels
Coalition capacity is needed at the local level to bring all voices together
The challenge is urgent, but solutions are achievable

“The goal of this summit is two-fold. One, to bring much-needed attention to this critical issue of housing access and affordability in communities spanning our state,” said John McPherson, NC REALTORS 2025 President, in a press release. “Two, and equally as important, is to bring solution-oriented conversation and recommendations based on the findings of this comprehensive report that local communities, business leaders and elected officials can take back home and implement.”

The summit convened policymakers, employers and community leaders, aiming to drive the development of affordable housing solutions. The newly released study equips stakeholders with critical data to inform actionable strategies for addressing the region's housing challenges.

“It is critical that Fayetteville and Fort Liberty are tied into the future proposed I-685 highway. One example is the current situation with Western North Carolina and the tragic need for soldier deployment/readiness. Soldiers need to access and assist, and having easy access to a highway will help with that. We are planning to have a local town hall soon to present this new research to Cumberland County elected officials, economic developers, and planners in order to begin the process of addressing the various findings locally,” added Dow.

The Carolina Core Housing Summit is a joint initiative of NC REALTORS®, the Piedmont Triad Regional Partnership, NC Carolina Core and 11 Local REALTOR® Associations.

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