JACKSON HOLE, Wyo. — Jackson/Teton County’s Housing Department today released the Teton Region Housing Needs Assessment, providing a thorough and in-depth look at housing needs in Teton County, Wyoming; Northern Lincoln County, Wyoming; and Teton County, Idaho.
The study looks at jobs, housing, and the connections between these communities, and considers the extensive work already happening on resident and employee housing. It provides information to inform and guide housing policies and programs and to help educate community members about the many benefits of diverse, secure housing residents can afford.
The Housing Needs Assessment presents recommendations for each county and the region overall and is organized into eight chapters. It begins with a regional overview that presents key trends and illustrates connections in the Teton Region related to jobs, the economy, and housing. That section is followed by detailed housing needs studies for each county including sections on: Snapshots and Recommendations; Community Demographics; Jobs, Seasonality and Commuting; Housing Inventory; Housing Markets; Housing Programs’ Accomplishments and Challenges; Housing Resources Opportunities and Constraints; and Housing Units Needed.
In positive news, the study shows that 61% of employees in Teton County, Wyoming also live in that county. Despite home price increases and low availability, this percentage has remained fairly stable over the past decade (between 58% to 61%). The substantial work on affordable and workforce housing in Teton County has helped to retain this percent of workers living locally.
The study also shows that in Teton County, Wyoming the recent boom in housing prices means that homes priced below $500,000 have quickly disappeared. Rental vacancy rates in all three counties are currently below 1%, and 9,590 workers commute into Teton County, Wyoming for work each day. As anyone living in the area knows, challenges related to housing are extensive.
The Housing Needs Assessment details the issues and demonstrates the need for a robust, regional response with all sectors of the community working collaboratively and transparently to build and engage community support and accelerate housing solutions.
Consultant team, WSW Consulting will present about the Housing Needs Assessment at today’s Joint Information Meeting starting at 2:00pm.
