x
Breaking News
More () »

Study shows severe housing shortage in San Patricio County

The average cost of a home in Portland is just over $177,000. Currently, there are only 127 homes there that are listed for sale.

San Patricio County (KIII news) — According to the latest statistics from Texas Realtors, San Patricio County is facing a severe housing shortage.

"It's all caused by supply and demand. I mean, there's not, there's a lot of people that want housing in San Patricio County, and there are not enough houses," said Foster Edwards of the San Patricio County Economic Development Corporation.

Edwards referred to a recent independent study conducted by Texas A&M University-Corpus Christi.

"The couple of remarkable things to me that were in the study is one, ah, we're about 3,500 houses short over the next five years. So we need to build about 700 houses a year," Edwards said.

The study shows 200 houses currently are being built per year in San Patricio County, which means housing units, not just single family but also multi-family.

"It is a seller's market right now," Edwards said.

Portland realtors agree there is a shortage of housing.

With new plants and companies opening up in San Patricio County, realtors are scrambling to meet demands.

Another revelation of the TAMUCC study is the cost of housing in San Patricio County.

"Housing prices since 2000, housing values have gone up 63-percent in San Patricio County, and 30-percent in Nueces County and that surprised me that our values have gone up a little over twice as much," Edwards said.

The average cost of a home in Portland is just over $177,000. Currently, there are only 127 homes there that are listed for sale.

Stay connected with 3News for the latest news, sports, and weather. Download the KIII-TV 3News app now.

Have an idea for a story? Send news tips to news@kiiitv.com, and visit us on Facebook, Twitter, and Instagram!

Before You Leave, Check This Out