Teton Regional Housing Needs Assessment

Teton Regional Housing Needs Assessment

Who needs what, and where?!

The Teton Region Housing Assessment report (the report) is out, and a lot of new data on socioeconomic issues in the region is now available.

We can probably all agree that sometimes it's good to come in first?
Out of the 3 counties the report focused on, Teton County, ID 'wins' for the most unaffordable rental market.
Not much of a bragging rights kind of win there, eh? The report identifies the most affordable rentals to be found are in N Lincoln County. However, the study shows an income of $70,000 is needed to afford the average rent there.

 Nearly half (over 2,000 households) of all renters surveyed for the report, were forced to move (at least once) over the past 3 years. Main reasons for their moves included - property owners selling the house, significant increases in rent, long-term rentals being converted to short-term rentals, and sometimes an owner moving back to their home. Approximately 30% of homes in Teton Valley, ID are either second homes, short-term rentals, or vacant - in transition to either being sold or rented. 

So... jobs, but no housing. How long can this trend keep shooting upward? How long until we all know someone who faces moving because they can't find housing? Oh.. we're already there! This 'housing crisis' has a direct affect on us all - on our local community, local nonprofits and local businesses. Since 2010, in all regions of the study, jobs have been growing at more than double the rate of available housing units. 

 If understaffing in the region was an issue before, the pandemic threw lighter fluid on the flame. In 2021, 91% of local businesses owners experienced a growing number of problems associated with understaffing, with the number one problem (81%) being lack of housing.

Any good news here?
If good can be found here, it's in the community momentum for addressing the 'housing crisis.' It's in the increasing number of conversations and local groups focusing on solutions. It's in having access to current data and reports. We're seeing local governments work to fill housing gaps (approximately 1,580 units are needed) and supporting housing as a top priority in community planning efforts. VARD plans to be part of the solution in keeping our community vibrant and sustainable. 

Teton Region Housing Needs Assessment 

Teton Valley News Article:

"County needs over 1,500 more homes, study says."