Report finds market for up to 450 new housing units in area
TIFFIN, OHIO – June 25, 2019 – In order to determine the kind of housing needed and attract developers to the area, the City of Tiffin has released the results of a months-long housing study. The report, “Tiffin Housing Opportunities Analysis,” is based on analyses of the housing market within the Tiffin market, area demographics, and a survey to existing and potential residents. Housing site opportunities also were identified through multiple field trips to the Tiffin area to review sites and interview local stakeholders.
The study was conducted by Dublin, Ohio-based DiSalvo Development Advisors (DDA), funded by the City of Tiffin and managed by Tiffin-Seneca Economic Partnership. It is DDA’s opinion that in the next three years a market exists for 330 to 450 new housing units in the Tiffin area. Eight potential development site examples were identified.
According to DDA, the Tiffin market represents one of the most underserved housing markets in Northwest Ohio. The lack of rental and for-sale housing development has resulted in an extreme shortage of housing that prevents prospective homeowners and renters from moving into the area. Growth in the labor pool and spending power for the local businesses is constrained without available housing. Among 18 rental properties surveyed, only two units were vacant. At the time of this writing, there were just 30 homes listed for sale (above $50,000) that were not pending, and no condominiums were listed for sale.
Also as part of the study, an online housing survey was responded to by 600 people in March and April 2019. Of the 600 respondents, 496 (82.7 percent) indicated that they or a family member work in Tiffin. Eight out of 10 respondents indicated parkland was the most important amenity proximate to a residence for owners and renters. Proximity to retail and workplace were the second and third most important amenities.
The survey also showed that eight of every 10 respondents indicated they were very or extremely familiar
with the business offerings in downtown Tiffin. Respondents were asked to choose their top three businesses/venues they would like to see, which were a bakery, indoor farmer’s market and a family recreation venue (e.g. arcade, bowling, movies, etc.). It is important to note that the desire by the
respondents for certain business types in the downtown does not indicate that the market will support such businesses.
Tiffin Mayor Aaron Montz commented: “The results of this survey are clear – there is a need for new housing development in the City of Tiffin. With so many great things happening in our community, this need must be addressed if we want to see continued growth.”
About the Tiffin-Seneca Economic Partnership
Started in 1983 as the Seneca Industrial and Economic Development Corp. (SIEDC), the Tiffin-Seneca Economic Partnership is a private, non-profit corporation dedicated to driving positive economic, downtown, and community development in Tiffin and Seneca County, Ohio, which consistently ranks among the top communities nationally for economic development. Learn more about the great things going on in Tiffin and Seneca County at http://www.tiffinseneca.com.