This report exposes the impact of the statewide housing shortage on Gateway Cities with an in-depth examination of New Bedford’s residential market. Produced in partnership with the Regeneration Project, the analysis pinpoints the forces contributing to rapid cost increases and explores the impact of rising housing prices on the local and regional economy. Detailed estimates of the number of additional housing units required to stabilize prices are presented. The report concludes with recommendations for local action and state policy change to help Greater New Bedford produce these new homes.
Housing for All
Forward-Looking Strategies for a Growing New Bedford
Key Takeaways
- In New Bedford, rents have risen sharply, and demand has outpaced existing housing units by thousands of units
- Land assembly, prioritizing home ownership, and increasing the number of skilled real estate and construction workers, among other strategies, will help to build on the work New Bedford has done to balance the housing market