As one would expect in a growing community with 5% population growth reported between the 2016 and 2021 census, Brandon has recorded a steady increase in the number and dollar volume of building permits across all sectors of the economy.
Residential construction continues to be strong, with over 2,600 new units constructed in the last decade. Of these newly constructed units, approximately half were multiple family units. Over the past 10 years Brandon averaged 266 new dwelling units per year. Despite strong residential growth, Brandon continues to exhibit signs of a community in which the housing demand continues to exceed supply. Brandon’s rental vacancy rate continues to be relatively low, currently hovering around 1.6 percent. Brandon’s average housing price continues to grow and remain strong.
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| # of New Residential Units Added | 470 | 208 | 259 | 187 | 232 |
RTM and Mobile Homes are excluded