At the recent Detroit Lakes Housing Summit, findings from a new housing study highlighted the city’s need for additional affordable housing amid ongoing growth. The study, presented by Scott Knudson of Community Partnering Research, showed that much of Detroit Lakes’ growth is driven by an influx of retirees and individuals nearing retirement. By 2028, projections indicate over half of area households will be headed by individuals 65 and older, with additional growth in the 45-54 age group. This trend underscores the need for affordable, accessible housing options.
The study found that renters, particularly those earning below $33,000, face a high-cost burden, often spending more than 30% of their income on housing. To address demand, the study recommends constructing 190-220 new rental units over the next five years, including 30 low-income units, along with 185-210 single-family homes.
Summit panelists identified obstacles to meeting these goals, citing high interest rates, rising construction costs, and the cost per apartment unit averaging $250,000. City officials hope that community engagement and data-driven insights will guide efforts to create more sustainable and affordable housing solutions for Detroit Lakes.