In a bid to offer clarity on the housing situation for its residents, Wake County has unveiled a new Housing Data Dashboard, an online resource designed to provide a detailed overview of the local housing market. The platform provides insights into population growth, housing affordability, as well as supply and demand dynamics. Wake County Board of Commissioners Chair Susan Evans highlighted the significance of the dashboard, stating, "This tool will help us all make informed decisions about how we grow and where we invest," in a statement obtained by Wake.gov.
The launch of this interactive tool comes as Wake County grapples with substantial population and housing cost increases. Over the past decade, the region's population has seen a near 10 percent uptick; just last year, 41,000 new residents relocated to the area from other parts of the nation. This influx coincides, with a steep 26 percent rise in median rent since 2018, exacerbating the financial burden on renters. Currently, close to 61,000 renter households in Wake County devote over 30 percent of their earnings to housing costs, a situation classified as cost-burdened.
Data transparency emerges as a primary goal for the dashboard, which aims to arm citizens, local officials, and housing advocates with comprehensive information. The expectation is that a more coordinated, informed approach to housing concerns can be cultivated through the availability of such data. The interactive platform offers charts, maps, and the ability to dive into various dimensions of the housing issue, including trends that span demographics and affordability metrics.
Furthermore, the dashboard's design enables users to extract and personalize reports, ensuring relevance to specific community needs. Evans emphasized the impact of this functionality, saying, "The more we understand the full picture, the more effectively we can address housing challenges and create opportunity for all." Despite the many challenges, Wake County's effort to demystify the housing landscape for its residents presents hope that with accurate information, constructive steps can be taken to mitigate the housing pressures it faces today.
