Economic Impact of Building 100 New Homes

The National Association of Home Builders documented the contribution of building 100 single family homes in a typical metro area for one year.  The year impact includes $21.1 million in local income, $2.2 million in taxes, and 324 jobs.  Half of the jobs are in construction, the other half extend from production and retailing of home furnishings to services such as real estate attorneys and landscapers.  The 100 new houses add annual recurring income of $3.1 million, $734,000 in taxes and 53 jobs.  Residents continue to buy goods and services that support the local economy and their taxes pay for schools, fire and police protection, roads and other governmental services.  Historically, housing has typically accounted for 17 percent of gross domestic product (GDP).

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