Jobs and Housing Analysis in Waukesha County
Analysis of jobs and housing in Waukesha County to identify gaps in workforce housing for economic development needs. Data reveals education levels, income, skilled occupations, wages, and industry distribution.
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A Jobs and Housing Analysis for Waukesha County An analysis of jobs and housing in Waukesha County to identify potential gaps in workforce housing to meet current and projected economic development needs. 1
Waukesha County is Highly Educated and Affluent Educational Attainment Median Household Income and Home Values 100.0% 95.7% $249,000 91.0% 90.5% $250,000 86.7% 80.0% $198,600 $200,000 $178,600 $165,800 Percent of Population 60.0% $150,000 41.2% 40.0% 33.9% $100,000 29.8% $76,545 27.8% $53,357 $56,247 $53,889 20.0% $50,000 $0 0.0% High School Graduate or Higher Bachelor's Degree or Higher Median Houshold Income Median Home Value Waukesha County Milwaukee MSA Wisconsin USA Waukesha County Milwaukee MSA Wisconsin USA Source: American Community Survey, 2011-2015 2
Waukesha County Employees are Highly Skilled and Professional Workers in Various Occupations 25% Percent of Civilan Employed Population Age 16+ in 19.3% 20% 14.7% 14.0% 15% Occupation 10.8% 10.5% 10.1% 10.0% 9.9% 9.6% 9.4% 10% 7.3% 7.1% 6.9% 6.1% 6.0% 5.8% 5.7% 5.7% 5.4% 5.1% 5% 0% Management, Business, and Financial Occupations Computer, Science, and Engineering Occupations Education, Legal, Community Service, Arts, and Media Occupations Healthcare Pracitioner and Technical Occupations Production Occupations Waukesha County Milwaukee MSA Wisconsin USA Source: American Community Survey, 2011-2015; US Bureau of Labor Statistics 2015 3
AVERAGE WAGE IN WAUKESHA COUNTY: 2015 Percent of Total 100.0 Monthly Wage Range Less Than $1,500 $1,500 to $1,999 $2,000 to $2,999 $3,000 to $3,999 $4,000 to $4,999 $5,000 or More Annual Wage Range Less than $18,000 $18,000 to $23,988 $24,000 to $35,988 $36,000 to $47,988 $48,000 to $59,988 $60,000 or More Jobs 18,889 20,705 33,639 36,652 36,804 87,884 234,573 8.1 8.8 14.3 15.6 15.7 37.5 Total Source: Wisconsin Department of Workforce Development: Quarterly Census of Employment and Wage, and SEWRPC.
AVERAGE MONTHLY WAGE AND NUMBER OF JOBS BY INDUSTRY IN WAUKESHA COUNTY: 2015 Average Monthly Wage 3,617 $ 5,373 5,281 3,703 6,114 5,295 3,827 1,274 2,790 3,769 4,354 $ Industry Jobs Natural Resources & Mining Construction Manufacturing Trade, Transportation, Utilities Financial Activities Professional & Business Services Education & Health Services Leisure & Hospitality Other Services Public Administration 235,427 525 14,269 43,832 47,395 15,586 35,066 39,508 20,357 8,124 6,069 Total Source: Wisconsin Department of Workforce Development: Quarterly Census of Employment and Wage, and SEWRPC.
Waukesha County is Aging Age Distribution Median Age 40% 45 42.8 43 35% Percent of Total Population in Age Group 42 41 30% 39 25% 38.1 37 20% Age in Years 35 15% 34 33 10% 31 5% 29 0% 2000 2015 2000 2015 2000 2015 27 27 Waukesha County Wisconsin USA 25 0-19 20-44 44-59 60-74 75+ 1970 1980 1990 2000 2010 Source: US Census; UW Extension 6
Waukesha County is Becoming More Diverse Source: US Census; UW Extension 7
Where does Waukesha County s workforce come from? WASHINGTON OZAUKEE DODGE Commuting to Waukesha County: 93,599 13,236 4,051 Commuting from Waukesha County: 68,802 WAUKESHA Net Inflow: 24,797 MILWAUKEE JEFFERSON Waukesha County Population: 398,424 Live and Work in Waukesha County: 127,596 4,794 2,256 Sources: 5-year American Community Survey, 2009-2013 US Census 2016 Population Estimates WALWORTH RACINE Workers commuting to Waukesha County Workers commuting from Waukesha County 8
Emerging Sector: Information Technology We focused in on IT, as the computer and electronic product manufacturing sector for Waukesha County is in the 96th percentile for concentration among all other counties and the data processing, hosting, and related services industry s location quotient has risen from less than 1 in 1998 to 4 in 2016 Establishments in this industry, specifically for Waukesha County, typically work alongside other establishments, especially in the healthcare sector Going forward, Waukesha County Center for Growth would like to conduct a more in-depth analysis on this sector 9
Managerial, Financial, and Information Technology Service Industries and Occupations The Milwaukee-Waukesha-West Allis metropolitan statistical area has a high concentration in managerial and financial services occupations Although its location quotient is only 2.16, the management of companies and enterprises industry is in the 97th percentile among all other counties Insurance carriers/other financial investment activities are above the 95th percentile and insurance agencies and brokerages are in the 94th percentile 10 Source: U.S. Bureau of Labor Statistics, Waukesha County, Four-digit NAICS Code, 2016:Q3
Employment Projections Summary Intermediate Employment Projections show that Waukesha County will gain 76,000 jobs by 2035. Social Services (Child and elderly care, rehab) 81% Business Services (advertising, computers, cleaning) 60% Health Services (medical, surgical) 35% Manufacturing ? (we expect employment to grow) Financial Services ?
People are Renting More and Buying Less Rental Vacancy Rate vs Homeownership Rate 12% 70% 11% 69% 10% 68% 9% 67% 8% 66% 7% 65% 6% 64% 5% 63% 4% 62% 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 Rental Vacancy Rate (Left) Homeownership Rate (Right) Source: US Bureau of the Census 12
MONTHLY OWNER COSTS FOR HOUSING UNITS WITH A MORTGAGE IN WAUKESHA COUNTY: 2015 Monthly Cost Number Percent of Total Less than $700 $700 to $999 $1,000 to $1,499 $1,500 to $1,999 $2,000 or More 1,681 6,554 21,900 23,173 28,355 81,663 2.1 8.0 26.8 28.4 34.7 100.0 Total Source: U.S. Bureau of the Census: American Community Survey, and SEWRPC.
MONTHLY GROSS RENT FOR RENTER-OCCUPIED USING UNITS IN WAUKESHA COUNTY: 2015 Rent Number Percent of Total Less than $300 $300 to $499 $500 to $749 $750 to $999 $1,000 to $1,499 $1,500 or More 946 1,181 6,416 12,058 13,251 4,715 38,567 2.5 3.1 16.6 31.3 34.4 12.2 100.0 Total Source: U.S. Bureau of the Census: American Community Survey, and SEWRPC.
Waukesha County Housing Affordability Summary: (2015 data) About 20% of owner occupied households spent over 30% of their monthly income on housing costs About 38% of renter occupied households spent more than 30% of their monthly income on housing The fair market rent in Waukesha County for a one bedroom apartment was $723, and a two bedroom apartment was $907 (in 2016) The cost of a typical starter home in Waukesha County was about $200,000
PERCENT OF INCOME SPENT ON A $200,000 MORTGAGE PAYMENT WITH A 30 YEAR LOAN AT 6.9% RATE OF INTEREST IN WAUKESHA COUNTY BY SELECT OCCUPATION TYPES, 2006 30 Percent of Gross Median Income = Monthly Affordable Housing Actual Affordable Mortgage at 30 Percent of Gross Median Income Actual Percent of Gross Income Spent on a $200,000 Mortgage Payment Median Wage Per Hour Median Income Per Year Type of Employment Civil Engineer Urban Planner Social Worker School Teacher (K-8) Manufacturing Worker Construction Worker Police Officer Legal Secretary Roofer Dental Assistant Travel Agent Floral Designer Bank Teller Child Care Worker Fast Food Cook $29.52 $28.02 $26.14 $24.50 $23.86 $23.63 $20.50 $17.66 $17.42 $13.32 $11.88 $10.82 $10.44 $9.69 $8.00 $61,401 $58,281 $54,371 $50,960 $49,634 $49,152 $42,025 $36,732 $36,233 $27,705 $24,710 $22,505 $21,715 $20,155 $16,640 $1,535.02 $1,456.80 $1,359.27 $1,274.00 $1,240.85 $1,228.80 $1,050.62 $918.32 $905.82 $692.64 $617.76 $562.62 $542.88 $503.88 $416.00 $183,474 $171,517 $156,788 $143,840 $138,807 $136,977 $109,924 $89,832 $87,937 $55,566 $44,197 $35,827 $32,828 $26,907 $13,564 40 percent 43 percent 45 percent 49 percent 50 percent 50 percent 55 percent 67 percent 68 percent 90 percent 100 percent 110 percent 114 percent 123 percent 149 percent
