A comprehensive housing needs analysis was presented to the Storm Lake City Council on Monday.
Matt Mullins with Maxfield Research Consulting pointed out that there are very few vacant lots in the community…
Mullins said there’s demand for over 400 additional housing units since the last study was done in Storm Lake in 2017, and pointed out growth in Storm Lake’s population. He acknowledged challenges with inflation, the uncertain effect of tariffs, and mortgage/interest rates making affordability more difficult.
Storm Lake’s home ownership rate decreased slightly between 2020 and 2024 from 60.8 to 59.9 percent.
The report says the community’s aging population is driving the need for alternative living options. Senior housing demand accounts for nearly half of all housing needs in Storm Lake over the next decade.
The council is expected to officially acknowledge the study at its next meeting on May 5th.
