COSHOCTON − A recent housing analysis shows that Coshocton County has a severe housing shortage across the board, in terms of price range and location.
The Coshocton Port Authority and the Ohio Mid-Eastern Governments Association worked with The Hamman Consulting Group on the study. The report was funded by a grant from the Resilience Initiative for Southeastern and Eastern Ohio (RISE Ohio). Local real estate agents and brokers were also used for the analysis.
Need for the study
Tiffany Swigert, executive director of the Port Authority, said housing issues came to light during the COVID-19 pandemic as people were allowed to work more remotely. Some people realized the big city wasn’t for them or couldn’t sell while the market was high, Swigert said. This led them to look for Coshocton, which is smaller and more affordable than a big city like Columbus, Cleveland or Cincinnati.
“We hear stories every day about people coming into our community. It’s encouraging and exciting, but it also comes with some challenges,” Swigert said of the housing shortage this has created. “It’s a barrier to workforce development. It’s a barrier to us growing here and attracting new businesses.”
Swigert said the purpose of the study was to understand what Coshocton currently has in the housing market and what needs to be built or revived based on needs and demographics. She said this is important for real estate developers and financial institutions.
She said the survey shows there is a shortage of ranch-style homes in the area for older couples looking for smaller and affordable homes, including rental properties. A step forward is working with landowners to build new homes, with Swigert saying the greatest need will likely be homes under $180,000.
“It’s very difficult to just approach a developer and say, ‘we want you to come to Coshocton.’ And they say, ‘Tell me why I should do that.’ If we don’t have the information to support that, not just in conversations, but also fact-based information that they can present to their financial institution or investor to substantiate the need, they won’t come,” Swigert said “Now we can we take these documents and say ‘developer, this is why we want you to come to Coshocton, here is why it makes financial sense for you to come to Coshocton’ because it’s all about them making money at the end of the day.”
Statistics related to the population
The 2023 population of Coshocton County was 36,376 people, with approximately 40% living within the city limits. This is down from 37,046 in the 2010 census and 36,621 in the 2020 census. While the province has seen an overall population decline, there was an increase in what the report referred to as the eastern, northeastern and northern zones. This was attributed to the Amish.
About 38% of residents are between 35 and 64 years old. From birth to 19 years this is about 23% and those over 65 years make up about 21%. The median ages for all zones have increased since 2010 and appear to continue to increase.
However, the number of families, households of two or more people who are related, has fallen by 4.4% since 2010 and is expected to decline by another thirteen families by 2028. Households, that is, people living in the same housing unit but not related, remained about the same. The average household size also did not change much.
In terms of annual average income, the northeast and northern zones were the highest at $65,612 and $64,392, respectively. These areas also have the highest median household incomes, $85,043 and $86,120 respectively. Median income and median income for the entire province are expected to rise through 2028.
Statistics regarding housing
As of 2023, there were a total of 16,295 housing units in Coshocton County. More than 7,000, or about 43%, were in the Central Zone, which included the city of Coshocton. Of these, 6,012 are designated as urban residential units and 1,037 as rural. The rest of Coshocton County is also considered rural.
For the middle zone, 56% of the homes are owner-occupied, 33% rental properties and 10% vacancies. The rest of the province is fairly flat with approximately 73% to 77% owner-occupied homes per zone, 10% to 16% rental properties and 6% to 15% vacancy. Vacant homes include homes that are used seasonally or occasionally and homes that are currently for sale or rent but not occupied.
The number of owner-occupied housing units increased by 208 units between 2010 and 2023 and is expected to increase by another 100 units by 2028. The majority are in the central zone, 3,980. More than 41% have lived in their home since at least 1999. Of the rental properties, 64% are located in the middle zone. From 2010 to 2023, rental units fell by 259. More than 55% of all homes were built before 1970. Homes with mortgages across the province range from 54% to 59%
More than 72% of occupied homes in the county have an assessed value of less than $200,000. Based on the value distribution, this means that housing options for higher incomes are extremely limited. The highest value homes, between $300,000 and $350,000, are mainly in the northeast zone. Lower value homes, from $100,000 to $150,000, are mainly located in the Central Zone. In contrast, the average housing cost in 2023 in the central zone was $123,197 and in the northeast zone was $295,573.
The number of single-family homes sold increased from 2018 to 2021, but then declined due to interest rate increases. Homes are now selling closer to list price, 98.5%, than in 2018, 93.5%. The average price went from $94,500, or $67.66 per square foot, in 2018 to $155,000, or $115.63 per square foot, in 2023.
At the end of 2023, there were 51 single-family homes on the market, 11 of which were under contract, but viewings were allowed, and eight were under contractor without viewings. Twelve housing permits for new construction were issued in 2022 and 2023, including four in the city of Coshocton, three in Warsaw and West Lafayette and two in Plainfield.
Next steps
The report made several suggestions for where Coshocton County can go from here, based on leveraging economic incentives, expanding the community’s reinvestment area, demographically specific opportunities and targeted marketing, direct outreach and networking.
Seven of the 10 census tracts in the county are eligible for new market tax credits. There is also only one project, the Honey House on Main Street, that operates as a community reinvestment area and receives a tax credit for renovations. Tax increment financing can also be used to upgrade or expand utilities and infrastructure for development.
Multifamily housing should be a focus as it is often what is sought by seniors looking to downsize, young professionals and those in need of affordable housing. These are groups that often like the flexibility of renting and do not need as much space. Older commercial buildings could be converted into such residential units, the study suggested.
It was also suggested that data from the report should be used to create marketing presentations for potential developers and local officials and stakeholders. They should try to engage more with project influencers and decision makers, industry associations and local property owners to encourage new construction and renovation.
Leonard Hayhurst is a community content coordinator and general news reporter for the Coshocton Tribune with more than 15 years of local journalism experience and multiple awards from the Ohio Associated Press. He can be reached at 740-295-3417 or llhayhur@coshoctontribune.com. Follow him on X (formerly Twitter) at @llhayhurst.
This article originally appeared on Coshocton Tribune: Study confirms lack of housing in Coshocton, offers possible solutions
