The 2015 Workforce Housing Scorecard examines and analyzes the current and projected housing trends and provides a preview of where Orange County is headed in terms of workforce housing, and how it will impact demographic, economic, and business competitiveness factors.
Orange County’s future prosperity hinges on the region’s ability to create a healthy, prosperous economy that promotes both jobs and housing, not one at the expense of the other. The Scorecard reveals which cities have struck an adequate jobs-to-housing balance, and which are falling behind.
When the inaugural Workforce Housing Scorecard was released in 2008, Orange County was near the height of the “housing bubble” and experiencing rapid acceleration of home prices. When the housing bubble burst, contributing to the “Great Recession,” the region’s economic decline, and job loss, Orange County’s housing market quickly deteriorated. Now that the region’s economy is recovering and creating jobs, the Workforce Housing Scorecard is again released at a turning point for the housing market–but this time in a positive direction, as home prices, construction and demand are on the rise. Though these are positives for the future of housing and business competiveness, there are still challenges ahead in supplying a range of high-quality, affordable housing options for Orange County’s workforce.