 Housing Market Analysis: Significant Characteristics of the Housing Market: |
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Housing Market Analysis: Significant Characteristics of the Housing Market: |
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4. Building Permits and Value of New Construction
New housing starts in Iowa City have been steadily increasing. Since 1993 there have been 932 permits issued for new single-family homes. Table III.2 shows the total number of new single-family homes that have been constructed in Johnson County from 1993 through 1998. The building trend has continued this year with 98 single-family dwelling unit permits issued by Iowa City through May of 1999.
Table III.2
NEW SINGLE-FAMILY DWELLING BUILDING PERMITS
|
Unincorporated Johnson County1 |
Iowa City |
Coralville |
North Liberty2 |
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|
Year |
# of Permits |
Total Value |
# of Permits |
Total Value |
Average Price |
# of Permits |
Total Value |
# of Permits |
Total Value |
|
1993 |
163 |
$22,356,013 |
223 |
$27,088,191 |
$121,472 |
94 |
$13,138,100 |
29 |
$2,241,611 |
|
1994 |
153 |
24,449,012 |
206 |
27,513,693 |
$133,562 |
84 |
11,246,000 |
168 |
10,323,030 |
|
1995 |
111 |
18,213,000 |
149 |
18,828,773 |
$126,368 |
59 |
8,573,500 |
161 |
9,726,000 |
|
1996 |
101 |
15,820,626 |
90 |
13,582,422 |
$150,916 |
82 |
10,004,265 |
50 |
4,000,000 |
|
1997 |
110 |
18,827,909 |
110 |
17,217,457 |
$156,522 |
92 |
12,231,450 |
34 |
3,017,383 |
|
1998 |
127 |
24,049,994 |
154 |
20,642,082 |
$134,039 |
104 |
14,092,730 |
51 |
4,363,000 |
1Figures are for unincorporated Johnson County.
2
Figures include duplexes and zero lot linesSOURCE: CITY OF IOWA CITY HOUSING & INSPECTION SERVICES, CITY OF CORALVILLE, CITY OF NORTH LIBERTY
Furthermore, there have been 75 duplex units constructed in Iowa City between 1993 and 1998, providing for another 150 single-family units. Many of the duplexes in Iowa City were built in the 1970s as affordable housing. Starting in the early 1980s there was an interest among the private developers in building zero lot-line homes because of the reduced cost and subsequent affordability to consumers. Zero lot-line construction has been particularly active in Coralville. Because of its affordability, this type of housing also has become a popular housing type within the Iowa City housing market, especially for first-time homebuyers.
Because Iowa City is a university community, a large percentage of the housing units are multi-family rentals (53.7% according to the 1996 Census). Table III.4 shows the number of permits issued and the number of multi-family units constructed between 1993 and 1998. The number of units constructed during that time period was 1,236, which is approximately 5% of the total stock.
Table III.3
NEW DUPLEX DWELLING BUILDING PERMITS
|
Iowa City |
Coralville |
North Liberty |
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|
Year |
# of Permits |
Total Value |
# of Permits |
Total Value |
# of Permits |
Total Value |
|
1993 |
10 |
$2,091,991 |
37 |
$3,860,000 |
7 |
$716,000 |
|
1994 |
14 |
2,436,487 |
30 |
3,645,000 |
-- |
-- |
|
1995 |
8 |
1,414,088 |
20 |
2,925,000 |
-- |
-- |
|
1996 |
14 |
2,760,082 |
11 |
1,142,000 |
-- |
-- |
|
1997 |
13 |
2,527,987 |
6 |
865,000 |
33 |
2,389,600 |
|
1998 |
16 |
2,945,487 |
10 |
1,730,000 |
27 |
1,720,000 |
NOTE: Duplexes include zero lot line units in Coralville. Zero lot line units for North Liberty and Iowa City are included in Single-Family Dwelling totals.
SOURCE: CITY OF IOWA CITY HOUSING & INSPECTION SERVICES, CITY OF CORALVILLE, CITY OF NORTH LIBERTY.
Table III.4
NEW MULTI-FAMILY DWELLING BUILDING PERMITS
|
Iowa City |
Coralville |
North Liberty2 |
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|
Year |
# of Permits (Units ) |
Total Value |
# of Permits (Units) |
Total Value |
# of Permits (Units) |
Total Value |
|
1993 |
24 (235) |
$9,726,121 |
5 (29) |
$1,230,000 |
7 (53) |
$1,841,000 |
|
1994 |
28 (335) |
12,793,325 |
9 (78) |
2,215,000 |
2 (19) |
741,000 |
|
1995 |
14 (166) |
8,165,541 |
10 (88) |
2,671,000 |
12 (38) |
914,000 |
|
1996 |
19 (218) |
11,108,901 |
10 (96) |
1,541,000 |
10 (92) |
2,792,840 |
|
1997 |
24 (185) |
10,397,114 |
5 (28) |
1,475,000 |
2 (20) |
599,000 |
|
1998 |
15 (97) |
6,822,828 |
7 (49) |
3,784,000 |
0 (72) |
1,409,629 |
1Number of dwelling units in parenthesis.
2
Value for 11 of the apartment units in 1993 are included in a commercial permit.SOURCE: CITY OF IOWA CITY HOUSING & INSPECTION SERVICES, CITY OF CORALVILLE, CITY OF NORTH LIBERTY.
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