WATERTOWN, S.D.(KWAT)–The Watertown Development Company delivered the results of a housing study to the city council Tuesday night.
It shows the occupancy rate for rental units in Watertown is very high, but there’s a need for more single family homes in all price points–especially entry-level homes.
Development Company Executive Director Chris Clifton.
Clifton says salaries aren’t the problem in Watertown, but availability of affordable housing is a problem.
The study by Maxwell Research and Consulting found Watertown’s unemployment rate was just two percent, and that entry-level homes are difficult to build in the current environment due to high development costs.
Suggestions in the study included property tax abatements, smaller lots, tiny homes and public-private partnerships.