Houghton-Hancock Area 25 Year Housing Plan
The Houghton and Hancock area is heavy influenced by Finlandia and Michigan Tech Universities with roughly 7,500 students between them. The cities of Houghton and Hancock had a total population between them of 12,342 using data from the 2010 census. Seven percent of the population of Houghton are 65 years of age or older whereas 13.8 percent of the State of Michigan’s population is of that age. The median household income was $27,661 and the median family income of $56,146 for Houghton for the period of 2009-2013 with 42.1 percent of persons falling below the poverty level (US Census and City of Houghton Master Plan). There are 1,734.1 persons per square mile in Houghton. Because more…show more content… The 2006 Campus Master Plan states that the dormitory style rooms of Douglas Houghton Hall, Wadsworth, and McNair are not appropriate to upper class students and that apartment style housing is needed. As of 2015, Michigan Tech offers a limited number of apartment units between Hillside Place and the aging and out of style Daniell Heights apartments. There are several hotels in the area that provide tourists a place to stay during summers and key events throughout the year.
Future Housing Approximately two-thirds of Michigan Tech students live off campus, so around 4,600 students. Students demand rental housing so a large demand is created in Houghton, especially locations closest to Michigan Tech’s campus. Michigan Tech estimated the need for an additional 400 beds mostly in apartment style housing for student use in their 2006 Master Plan. Housing costs at Michigan Tech run $9393 and up (including food) per academic year so rent should be marketed lower to make it a viable option considering commuting expenses and inconveniences to campus. Many houses Tech students live in now are larger low cost homes that are past/ well past their prime. As these houses need to be removed, an emphasis should be placed on apartment style units as well as semi, duplexes and up. Low-rise or garden apartments would make the most sense for the area considering the smaller population. A high-rise apartment should only be