MADISON, Wis. — A report released by Forward Analytics finds that Wisconsin needs to build fewer homes than expected due to changing demographic patterns, a decline from 2023 estimates.
The study updates the previously assumed 140,000 projected units to be built from 2020 to 2030, revising the estimate to around 84,000 units based on updated Department of Administration population projections.
The study cites the shifting population dynamics as the reason behind the revision. The growing senior population, expected to increase by nearly 283,000 through 2030, has significant implications for housing supply, given this group's high homeownership rate. This also corresponds with the overall decline in the working-age population, which is estimated to drop 6.6 percent over the 10 years – the single most significant demographic shift of the decade.
Forward Analytics Report by TMJ4 News
“Wisconsin’s demographics are shifting rapidly, and our housing policy needs to keep pace,” said Jacob Anderson, research analyst at Forward Analytics. "If Wisconsin wants to retain and attract residents, it cannot accept the status quo and must increase permitting supply to give itself the chance to retain younger residents who are being priced out of the market, as well as attract new residents.
