A rapid and focused effort to accelerate housing investments at all price points is a key area of focus for the PSP. Permian Basin metro populations have expanded in concert with shale industry growth and demands for multi-family homes are increasing as more young families and singles move to the region. This demand surge has created a sharp and ongoing price shock in home and rental rates.
In 2018, the Bureau of Labor Statistics reported there was no region in the United States that could match the Permian Basin for its percentage increase in new jobs. Attracting new workers is becoming increasingly difficult given the housing shortage and higher costs of living.
What We're Doing
The PSP Housing Committee is seeking to partner with various organizations and stakeholders to increase housing availability across the Permian Basin and mitigate housing as a barrier to workforce expansion.