Press Release: Housing Demand Study Available on YVHA website

Published On: March 7th, 2024Categories: Press Releases

STEAMBOAT SPRINGS, CO – The housing demand study referred to in the City of Steamboat Springs and Yampa Valley Housing Authority (YVHA) Annexation Agreement can be found in the Community Development Plan (CDP) here.  The Housing Demand Study was written by the consultants, RCLCO and part of Community Development Plan released in November 2022. RCLCO is a specialized, third-party real estate economics consulting firm that was hired as a sub-consultant to the prime consultant to YVHA called Mithun. Per the Annexation Agreement, YVHA is also working with RCLCO to create the methodology to regularly update the housing demand study, which YVHA will publicize to the community.

Jason Peasley, Executive Director of YVHA explained the process of how YVHA calculated the demand for housing in Steamboat Springs, “In 2021, YVHA worked with several consultants to help develop the Community Development Plan including lead consultant Mithun who subcontracted with the company RCLCO to develop a Housing Demand Study to better understand the housing needs of our community. RCLCO’s first report in January 2022 was based on employment numbers in Routt County. However, it was an interim document that was used to start discussions with the community and the Focus Teams we had created to ensure we were capturing all the elements of demand.”

To create the final housing demand study in the Community Development Plan, RCLCO used a range of data points including data from the Colorado Labor Department, the US Census, and the local Assessor’s office to quantify both the housing shortfall that exists today, as well as the amount of additional housing units needed to support the number of new jobs anticipated in Routt County over the next 10-20 years.

The more finalized RCLCO study that is shown in the Community Development Plan (CDP) cites that “the current housing shortfall that serves Steamboat Springs workforce is roughly 1400 units. Projections for future demand growth relative to supply growth suggest that there is a total need for approximately 1960 new homes by 2030 (560 additional beyond the 1400 homes) and approximately 2300 new homes by 2040 (900 additional units beyond the 1400 homes)” RCLCO also states that 80% of the jobs in Routt County are in Steamboat Springs.

“In summary, the January initial RCLCO Housing Demand Study said that the housing demand for Routt County is 3000 units needed and the final Housing Demand Study in the Community Development Plan refined the number to be “1961 homes needed in Steamboat Springs by 2030 and over 2400 in the Steamboat area by 2040[1]”.  YVHA will build housing only where there is demand. We will continue to update the housing demand analysis to ensure the homes we build meet the needs of the community,” added Jason Peasley.

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[1] CDP Housing Demand Study page 12 https://brownranchsteamboat.org/wp-content/uploads/2022/11/FINAL-22-11-03_Brown-Ranch-CDP_Demand-Study-Excerpt.pdf