Steamboat Springs, CO

Report Summary: Mountain resort towns like Steamboat Springs have long struggled to provide enough housing that’s affordable. Yet in the wake of the pandemic, the situation is worsening: with full-time remote work here to stay, relocation to resort towns is a growing trend — and Steamboat Springs is no exception, resulting in a housing crisis as supply lags far behind demand. Steamboat Springs is currently 1,400 housing units short of what’s needed. What’s there is pricey: The average sale price of homes has increased by over 70% since 2019, and one-bedroom rents are one-third above the national average. What’s more, about 3,000 units have been converted to short-term rentals, exacerbating the shortage and leaving many locals priced out of Steamboat. The Yampa Valley Housing Authority invited ULI’s Advisory Services team in to assess the Brown Ranch Community Development Plan, funding concepts, strategy working with the private sector, as well as stewardship and governance.