Emily Sadow, Program Associate and Office Manager, Valley Advocates for Responsible Development

The Department of Housing and Urban Development (HUD) considers households to be burdened if more than 30% of their income is spent on housing*. This implies that housing can be considered “affordable” when monthly housing costs (including utilities) are equal to no more than 30% of a household’s gross income. According to the newly released Teton Region Housing Needs Assessment, the Average Median Income (AMI) of a 3-person household in Teton Valley, ID is $68,800. The current rental market in Teton Valley requires an income of $99,000 to afford housing in the region, equating to 144% of a household's AMI on average. When asked what the biggest obstacle is in finding and keeping employees in the region, lack of housing is the number one response (81%). Conversion of rentals from long to short-term (usually meaning less than 30 days) is also impacting renters in the region, causing an estimated 180 renter households to move in the past 3 years.

Sarah Knoebl, University of Colorado Denver, Master of Urban and Regional Planning Candidate 2022 | CAP

Teton Valley residents are currently experiencing a critical shortage of available affordable housing. Tourism and the prominence of uncontrolled short-term rentals in the Valley is a key contributor to the housing shortage and resulting displacement of local residents. When considering Grand Targhee Resort’s proposed expansion, it is critical to understand and evaluate the expansion’s potential impacts on the local community - housing being a crucial priority. It is also imperative that Grand Targhee continue to partner with Teton County/s and surrounding cities to create affordable housing solutions and mitigate any additional stressors on community resources.

ADDITIONAL RESOURCES

Teton Region Housing Assessment Needs, 2022

Gateway Communities: Affordable Housing Issues & Planning Solutions - Sarah Knoebl, 2022

Teton County ID and Teton County WY Short Term Rental Study - Shleby Jablon, 2000