Single-Family Construction up Nearly 22%, Commercial Construction up 311%
Omaha, Neb., June 11, 2021 – The Greater Omaha Chamber today announced record-breaking numbers for the multi-county region that comprises Greater Omaha, with commercial construction up 311% over April 2020, and April 2021 home permits exceeding $52 million – a jump of nearly 22% over April 2020.
The numbers, released today and reported as April’s Monthly Economic Indicators, come on the heels of Omaha being named the No. 4 market nationally for first-time homebuyers, according to SmartAsset.
SmartAsset, a global financial-advisement organization, noted Nebraska’s “10th-lowest foreclosure rate, with 0.32 foreclosures for every 10,000 homes, when compared to all other states and the District of Columbia,” contributed to Omaha’s success. The firm pointed out Omaha, Nebraska, in particular, ranks “best” in this area, when compared to competing metros.
In addition, March 2021’s Greater Douglas County unemployment rate of 3.3% (according to the Bureau of Labor Statistics), was favorable for Omaha’s home-buying community – where SmartAsset said nearly 44% of residents under age 45 own a home.
Additional Monthly Economic Indicators for April showed airline travel (calculated as Eppley enplanements) had risen 14.8% over April 2020; while a marked decrease in unemployment – from 8.6% in April 2020 to 2.8% in April 2021 – continues to illustrate economic improvement.
Of the regional industries experiencing growth, Leisure and Hospitality showed the largest gains, increasing 56.3% when compared to April of last year.
While both commercial construction and single-family construction are up in Greater Omaha, it is important to note much of the exponential growth in commercial construction is due to a large data center project in Sarpy County.
About Greater Omaha
Greater Omaha is a No. 1 ranked up-and-coming-tech hotspot, a “top 10 best place to live on a $60,000 salary” and was named America’s No. 2 Best Small City by Resonance Consultancy. The region is a top-five “most remarkable waterfronts in the U.S.” and is home to more than 30 communities and nearly 1 million people.
About the Greater Omaha Chamber Economic Development Partnership
The Greater Omaha Chamber Economic Development Partnership (https://www.omahachamber.org/economic-development/) represents a seven-county area from two states (Nebraska and Iowa) that includes Cass, Dodge, Douglas, Otoe, Pottawattamie, Sarpy and Washington Counties.
About the Greater Omaha Chamber
The mission of the Greater Omaha Chamber is to champion a thriving business community and a prosperous region through visionary leadership and collaboration.