Lake of the Ozarks Regional Economic Development Council

Even before the completion of the 2022 Lake of the Ozarks Housing Study, it was obvious that a focus on increasing availability of housing was of utmost priority. Lack of available housing impacts economic growth and presents a serious challenge to small businesses at Lake of the Ozarks when it comes to keeping a consistent workforce in place. So as we a strategize on solutions, in order to be most effective, we need specific data that tells us where to target efforts to alleviate the most urgent needs first. The 2022 Housing Study provides that data. You can see the full report under the Demographics and Statistics Tab on our website . If you are interested in the main takeaways we learned from the 2022 Lake of the Ozarks Housing Study , today's blog is a summary from the report we wanted to share with you.  Multiple Factors at Work Many factors continue to drive the cost of housing in our area including construction costs, construction and building capacity, and lot locatio...

The housing market has an impact on so many other things regarding economic development at the Lake of the Ozarks . As rising costs in rent and housing lead to less availability, our ability to house the number of employees needed to service the area is challenged which can be a detriment to small businesses at the Lake of the Ozarks . Addressing the housing challenges specific to the lake area is of utmost priority. In order to do so, we need data to know how to be most effective in targeting the most urgent housing needs. The 2022 Housing Study was done to provide that kind of data. You can find the full report on the Demographics and Statistics page of our website . We will share a few takeaways from the report here in this blog. This report can be used by several groups and individuals, including, but not limited to: • Housing professionals, including developers, builders, real estate agents, and financial institutions who make decisions that influence the supply and construction o...

The housing market at the Lake of the Ozarks has changed dramatically in the last couple years, and LOREDC is focused on helping those who are ready and able to meet that challenge. One way we do so is by providing resources and information like the 2022 Lake of the Ozarks Housing Study . When it comes to housing development, it is essential to know the demographics of the people needing housing. Available housing for the workforce necessary to serve the community is a pre-requisite to workforce retention and growth, as well as business and economic development at Lake of the Ozarks . So a housing study was necessary to provide real numbers and data on what type of housing is needed most and where. Importance of a Housing Study The Lake of the Ozarks Regional Economic Development Council (LOREDC) represents a three-county region at the Lake of the Ozarks, Camden, Miller, and Morgan counties, and the communities within. Our focus is to coordinate, promote, and initiate regional econom...

The Lake of the Ozarks Regional Housing Study represents an in-depth study of the housing conditions in Camden, Miller and Morgan counties, as well as Laclede County. In last months blog we looked further into the housing demand for Camden County . This month we'll build on the housing demand and dive into Morgan County characteristics. A PROFILE OF MORGAN COUNTY Morgan County, while located in the Lake Region, has a distinct character where the natural landscape transitions from relatively subtle at the north to more mountainous near the Lake. Further, unlike many of the communities closer to the Lake, which are service centers for Lake residents, both Stover and Versailles function as more traditional rural population centers. These population centers are home to families and those employed in agricultural industries and local manufacturing with some Lake-oriented service businesses. In these areas, much of the demand for housing is for workforce rental and ownership optio...

The Lake of the Ozarks Regional Housing Study represents an in-depth study of the housing conditions in Camden, Miller and Morgan counties, as well as Laclede County. Building on the population and economic characteristics we discussed in last month's blog , today we dive into household size and other household characteristics.  Housing & Household Assessments Households around the Lake of the Ozarks region tend to be smaller, reflecting the older median age and the type of housing these populations demand. Young families are locating in the population centers and rural areas off of the Lake. A region's occupancy and housing age can tell a lot about the makeup of the housing market, gaps and opportunities. Occupancy  Most of the rental housing for the Lake of the Ozarks region's workforce is located within the population centers of Versailles, Camdenton, Lebanon and some in Osage Beach and Eldon. Vacancy rates in the region are much higher than traditional mar...

As we discussed in our December blog, the Lake of the Ozarks Regional Economic Development Council (LOREDC) is conducting a Lake of the Ozarks Area Housing Study . It is our hope and desire than an effective housing study would assist local government, builders, developers, lending institutions and other interested parties solve the housing concerns of the Lake of the Ozarks region. Business Owners' Issues The following scene is all too familiar for local business owners: an employee lives in a community 30 miles or more away from the Lake because they can't find quality and affordable housing near their job. Eventually that person finds a job closer to their home, leaves the Lake area and thereby forces that small-business owner to raise additional capital to retrain a new employee only to see this chain of events repeat over and over. Small business owners, as well as many people who work in these businesses could see this housing issue become a distant memory if LORE...

The Lake Region is unique for its beauty, its recreational features, its people, topography, and its quality of life. These characteristics attract people at all stages of their lives for opportunity, experience, pleasure, and retirement. However, one thing our region shares with many other places is the struggle to provide its present and prospective residents with places to live that provide for their needs at costs they can afford. Because of this, the Lake of the Ozarks Regional Economic Development Council (LOREDC) requested proposals from consultants with extensive experience in housing planning and policy to complete a comprehensive housing study for our region. What Is The Plan? This Lake of the Ozarks housing study will analyze all aspects of the regional housing market in our three counties: Camden, Miller and Morgan, on both regional and local levels. It will examine housing supply, demand, and affordability in areas as localized as zip code districts and individual co...