Increasing housing density and building more multi-family homes are necessary to develop more “attainable” housing in Billings, a report by real estate consultants commissioned by the Billings Association of Realtors found.
Construction equipment clears home lots to the west of Presidio Lane and Matador Avenue as home construction fills in land in the northwest corner of the Billings Heights in this file photo.
A consulting team from the Counselors of Real Estate (CRE) visited Billings and studied the area’s affordability over the summer. Wendy Timm, the lead consultant, on Thursday presented the findings to a group of homebuilders, realtors and city officials.
The study focused on how to build housing for the 29,000 area residents who do not make enough money to afford a median-priced home — which includes many individuals working in the area’s biggest job sectors.
“The most stunning demographic statistic in the Billings area is that four of the top five occupations do not …