2017 Spencer Comprehensive Land Use Plan

Spencer, Iowa  2017  Comprehensive Plan

Table 6 – 2006 to 2016 Residential Building Permits, New Dwellings Built and Valuation of Housing in Spencer

Year

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

New Residential Permits New Dwelling Units Residential Remodel Permits New Build Value (Millions) Remodel Value (Millions)

26

14

12

13

9

4

32

40

9

34

9

34

14

13

13

9

4

39

40

9

65

77

166

170

143

165

116

101

129

109

128

75

75

4.88

2.60

2.84

2.65

2.10

0.85

4.77

5.47

2.27 11.11

7.22

1.46

1.52

0.82

4.13

1.09

1.30

1.39

1.03

1.09

1.25

1.10

Figure 17 - Residential Housing Building permits in Spencer, 2006-2016

No. of Permits No. of Dwellings Permit Valuation (in $000,000) Linear (Permit Valuation (in $000,000))

100

80

60

40

20

0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

OCCUPANCY CONDITIONS The following table shows vacancy rates during 2013. In the past 13 years (2000-2013) the total number of housing units have increased, but with a lack of occupants so has the vacancy rate. The vacancy rate for Spencer is 11.9% in comparison to 11.3% for Clay County and 8.5% for Iowa. Both Spencer and Clay County are slightly higher than the “ideal” vacancy rate of five percent, which is considered healthy for a buying and selling market. The owner occupancy rate of occupied housing is 70.3% in Spencer, with 29.6% of homeowners living in rental properties. The owner occupancy rate is slightly lower than the statewide average of 72.2% with 27.8% claiming rental occupancy as their place of residence.

Table 7 – Occupied Housing Units in Spencer, Clay Co., and Iowa

Vacant Housing Units

Owner Occupied

Renter Occupancy

Total Housing Units

Occupied Housing Units

Number Percentage Number Percentage Number

Percentage

Spencer Clay Co.

5,620 8,061

4,952 7,148

668 913

11.89% 11.33%

3,482 5,305

70.32% 74.22% 72.23%

1,470 1,843

29.68% 25.78% 27.77%

Iowa

1,341,001

1,226,547 114,454

8.53% 885,942

340,605

Source: U.S. Census Bureau, American Fact Finder, 2013

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NW Iowa Planning & Development