HomeMy WebLinkAboutagenda.council.worksession.20251208AGENDA
CITY COUNCIL WORK SESSION
December 8, 2025
4:00 PM, City Council Chambers
427 Rio Grande Place, Aspen
I.Work Session
I.A Housing Needs Assessment Update
II.Council discussion of the items published in the most recent information update,
as needed
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12.8_CoA_Housing_Needs_Assessment_Update_Memo.docx
243156 Council and Board Presentation - December 2025.pdf
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STAFF REPORT
TO: Mayor and City Council
FROM: Liz Axberg, Housing Policy Analyst
THROUGH: Diane Foster, Deputy City Manager
MEETING DATE: December 8th, 2025
SUBJECT: Housing Needs Assessment Update
__________________________________________________________________
INTENDED OUTCOME:
The intended outcome of this work session is for City Council to receive an update on the
current status of the housing needs assessment, ask questions, review data findings and
trends, and understand next steps in this process.
EXECUTIVE SUMMARY:
In 2024, the Colorado Legislature enacted Senate Bill 24-174, requiring every local
government in Colorado to complete and publish a Housing Needs Assessment by
December 31, 2026, with updates every six years. In parallel, Proposition 123 requires
Rural Resort communities to submit a Rural Resort Income Limit Petition—supported by
recent housing-needs data—in order to access state grant funding for projects serving
income levels above those specified in statute.
To meet these dual state requirements and maintain eligibility for Proposition 123 funding,
the City of Aspen began work on the Housing Needs Assessment in February 2025. City
Council approved a contract with Economic and Planning Systems (EPS) on February 3,
2025, via Resolution 18, Series of 2025.
Early into the process, the Colorado Department of Local Affairs (DOLA) recommended
that jurisdictions complete their studies at a regional scale to streamline review and
maximize efficiency. In alignment with this guidance, Aspen partnered with Pitkin County
and the Town of Snowmass Village to jointly fund a regional assessment covering Pitkin
County, Aspen, Snowmass Village, Basalt, Carbondale, Glenwood Springs, Garfield
County, New Castle, Rifle, and Parachute. Data in today’s presentation includes both data
from Pitkin and Garfield County.
With Phase 1 now complete, the next steps include:
1. Submitting a Rural Resort Income Limit Petition, and
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2. Completing Phase 2, which will finalize Aspen’s full Housing Needs Assessment
as required by SB 24-174.
City Council will receive a second update and feedback opportunity upon completion of
Phase 2 of the Housing Needs Assessment.
DISCUSSION:
The first phase of the Housing Needs Assessment is now complete and fulfils the
requirements to submit a Rural Resort Income Limit Petition. To submit a petition,
jurisdictions are required to have a recent and complete housing needs assessment that
justifies the need for affordable housing that serves higher AMIs. The discussion today
includes data from the portion of the housing needs assessment that was completed
specifically for the Rural Resort Income Limit Petition.
Since there are time constraints to submitting a petition and applying to Proposition 123
funding opportunities, staff split the project into two phases to expedite phase one.
Outlined below are the two phases and the outcomes for each phase. Staff are
immediately rolling the project into phase 2 to complete the remaining components of a
housing needs assessment.
1. Phase 1: Tables and Waiver for Proposition 123 (complete)
Sections include: Demographic trends, Economic Trends, Housing
Inventory, Housing Market Trends, and Current and Projected Needs
i. Outcome: Required data tables to submit Rural Resort Income
Limit Petitions to Proposition 123
2. Phase 2: Remainder of Housing Needs Assessment
Sections include: Housing Problems, Housing Resources, Housing
Development Challenges and Opportunities, Policy Programs and
Recommendations, and a Housing Action Plan
i. Outcome: Build out the remaining components to fulfill SB 24-174
requirements and other potential data questions.
Staff emphasize that nothing in the housing needs assessment is legally bind ing nor
does it make recommendations on the amount of housing the City of Aspen or any of
the included jurisdictions “need to build”. While the housing needs assessment
estimates our current housing need and projected housing need, the Housing Action
Plan (also required by SB-174) is the portion where City Council will have the
opportunity to utilize the housing needs assessment data and other information (land
available, cost of construction, etc.), to set goals on the amount of housing to bring to
the community over the next 10 years. Staff will work on the Housing Action Plan after
completing Phase 2 of the housing needs assessment.
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The presentation that Council receives from EPS today will also be presented to the
Pitkin County Board of County Commissioners and Town of Snowmass Village Town
Council. The slides for today’s presentation are included to review prior to the
presentation.
FINANCIAL IMPACTS:
There are no new financial impacts associated with this update as the assessment results
are not binding and do not require action at this time.
RECOMMENDATIONS:
For this phase, staff ask Council for feedback and questions about the data and next
steps of this process. Given the restrictions of the state methodology requirements, this
presentation is informational about the data on the current and projected housing
needs in our region.
CITY MANAGER COMMENTS:
[Leave this section blank as it is intended for the city manager to provide additional
context for council at their discretion.]
ATTACHMENTS:
Attachment A – Housing Needs Assessment slides provided by EPS
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1600 Stout Street, Suite 1850 Denver, CO 80202
303.623.3557 www.epsys.comThe Economics of Land Use
ROARING FORK VALLEY REGIONAL HOUSING NEEDS ASSESSMENT
Draft Findings
December 2025
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 1
STUDY PARTNERS
Pitkin County
City of Aspen
Town of Snowmass Village
Town of Basalt
Garfield County
Town of Carbondale
City of Glenwood Springs
Town of New Castle
Town of Silt
City of Rifle
Town of Parachute
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 2
STUDY PURPOSE
•Meet the requirements of SB24-174,
requiring most local governments to
prepare Housing Needs Assessments
(HNAs)
•Support applications for Proposition 123
Funding and Rural Resort petition
•Plan for affordable housing needs in the
Roaring Fork Valley and Colorado River
Valley
•Build regional collaboration on housing
•Not a legally binding
commitment to:
–Build the amount of housing
identified in the HNA
–Build housing in the
locations identified in the
HNA
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 3
STUDY OVERVIEW
1.Demographic trends
2.Economic trends
3.Housing inventory
4.Housing market
5.Affordability analysis
6.Housing needs
–Existing need
–Projected future need
Next Steps
Remaining components for HNA compliant
with SB-174
•Housing problems
•Housing resources
•Housing development challenges and
opportunities
•Policy programs and recommendations
Deliverable: completed HNA for submittal
to DOLA
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1. DEMOGRAPHIC TRENDS
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 5
HOW HAS THE REGIONAL POPULATION CHANGED?
•Faster growth in Garfield
County than Pitkin,
especially since 2015
•In the future, Garfield
County expected to grow,
Pitkin County expected to
remain stable
–Projections based on
existing conditions
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 6
WHAT ARE THE CHARACTERISTICS OF RESIDENTS?
•Aging populations in both
counties
–Significant portion of the labor
force in both counties is 50 or older
•Higher share of population
under 25 in Colorado River
Valley
•Higher share of population 65
and older in Roaring Fork Valley
•Larger households in the
Colorado River Valley
Population by Age, 2023
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2. ECONOMIC TRENDS
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 8
JOBS & COMMUTING
•Garfield County has nearly 1.5X as many jobs as Pitkin
County
•In Pitkin County, the largest employment industries are
tourism-related
–25% accommodation & food services
–13% arts & recreation
–8% retail
•62% of Pitkin County workers commute in from
outside the county
•Of all Pitkin County workers (local and in-commuters),
42% commute more than 25 miles each way
–33% commute less than 10 miles
–26% commute 10-24 miles
–17% commute 25-50 miles
–25% commute more than 50 miles
Total Employment 2019 2024 Total Ann. #Ann. %
Pitkin County
Management 550 880 330 66 9.9%
Business and Financial Operations 790 1,150 360 72 7.8%
Computer and Mathematical 180 200 20 4 2.1%
Architecture and Engineering 220 270 50 10 4.2%
Life, Physical, and Social Science 80 110 30 6 6.6%
Community and Social Service 130 110 -20 -4 -3.3%
Legal 120 140 20 4 3.1%
Educational Instruction and Library 510 630 120 24 4.3%
Arts, Design, Entertainment, Sports, and Media 440 320 -120 -24 -6.2%
Healthcare Practitioners and Technical 150 400 250 50 21.7%
Healthcare Support 160 110 -50 -10 -7.2%
Protective Service 500 350 -150 -30 -6.9%
Food Preparation and Serving Related 1,010 2,620 1,610 322 21.0%
Building and Grounds Cleaning and Maintenance 1,330 1,120 -210 -42 -3.4%
Personal Care and Service 930 1,030 100 20 2.1%
Sales and Related 1,270 1,720 450 90 6.3%
Office and Administrative Support 1,540 1,590 50 10 0.6%
Farming, Fishing, and Forestry 30 90 60 12 24.6%
Construction and Extraction 820 630 -190 -38 -5.1%
Installation, Maintenance, and Repair 720 940 220 44 5.5%
Production 250 270 20 4 1.6%
Transportation and Material Moving 680 870 190 38 5.1%
Total 12,400 15,550 3,150 630 4.6%
Note: Total employment may not sum due to undisclosed data
Source: CO Dept. of Labor and Employment OEWS, Economic & Planning Systems
Z \Sh d\P j t \DEN\243156 A R i l H i N d A t\D t \[243156 E l t l ]T O ti E OES
2019-2024
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 9
WAGES
•Significant range in wages based on
occupation
•Lower wages in many of the occupations
with higher employment
–Highest wages in legal (1% of jobs) and
management (6% of jobs)
–Lowest in food preparation & serving (17% of
jobs), sales (11% of jobs), building and grounds
cleaning & maintenance (7% of jobs), personal
care & service (7% of jobs)
25th Median 75th
Wages Percentile Wage Percentile
Pitkin County
Management $86,473 $120,781 $158,386
Business and Financial Operations $61,540 $79,555 $106,960
Computer and Mathematical $78,478 $92,064 $121,339
Architecture and Engineering $62,859 $81,431 $102,710
Life, Physical, and Social Science $73,695 $73,695 $96,307
Community and Social Service $57,864 $67,139 $85,248
Legal $89,485 $127,845 $160,286
Educational Instruction and Library $46,085 $57,978 $78,410
Arts, Design, Entertainment, Sports, and Media $48,104 $65,330 $85,866
Healthcare Practitioners and Technical $79,555 $107,587 $131,652
Healthcare Support $44,857 $56,450 $61,107
Protective Service $49,864 $68,517 $79,350
Food Preparation and Serving Related $33,523 $38,661 $53,321
Building and Grounds Cleaning and Maintenance $38,189 $46,390 $56,138
Personal Care and Service $39,067 $45,996 $51,473
Sales and Related $36,181 $45,549 $63,653
Office and Administrative Support $42,488 $49,816 $64,463
Farming, Fishing, and Forestry $39,520 $46,205 $65,617
Construction and Extraction $48,610 $58,174 $72,989
Installation, Maintenance, and Repair $47,864 $59,608 $75,041
Production $39,078 $46,592 $58,760
Transportation and Material Moving $38,910 $56,018 $76,851
Total - All Occupations $40,980 $54,080 $76,851
Source: CO Dept. of Labor and Employment OEWS, Economic & Planning Systems
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3. HOUSING INVENTORY
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 11
HOW MUCH HOUSING IS IN THE REGION?
•Nearly 2X as many
housing units in Garfield
County than Pitkin
County
•Garfield County added
units faster than Pitkin
County from 2015 to
2023
•At the municipality level,
fastest growth since
2015 was in Basalt
Housing Units 2010 2015 2023 Total Ann. #Ann. %Total Ann. #Ann. %
Pitkin County 12,488 12,853 13,612 365 73 0.6%759 95 0.7%
Aspen 5,931 6,067 6,301 136 27 0.5%234 29 0.5%
Snowmass Village 2,355 2,478 2,697 123 25 1.0%219 27 1.1%
Basalt 1 1,832 1,834 2,249 2 0 0.0%415 52 2.6%
Unincorp. Pitkin County 3,688 3,794 3,975 106 21 0.6%181 23 0.6%
Garfield County 22,892 23,201 25,068 309 62 0.3%1,867 233 1.0%
Carbondale 2,426 2,471 2,677 45 9 0.4%206 26 1.0%
Glenwood Springs 4,118 4,176 4,445 58 12 0.3%269 34 0.8%
New Castle 1,668 1,695 1,944 27 5 0.3%249 31 1.7%
Silt 1,136 1,161 1,337 25 5 0.4%176 22 1.8%
Rifle 3,696 3,714 3,901 18 4 0.1%187 23 0.6%
Parachute 537 539 547 2 0 0.1%8 1 0.2%
Unincorp. Garfield County 9,311 9,445 10,217 134 27 0.3%772 97 1.0%
1 Basalt figures represent a total of values within both Pitkin and Eagle Counties
Source: CO State Demography Office, Economic & Planning Systems
2010-2015 Change 2015-2023 Change
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 12
Description Rental Ownership Unknown Total Count % Aff.
Pitkin County
Aspen 1,325 1,584 2 2,911 6,301 46.2%
Snowmass Village 485 353 0 838 2,697 31.1%
Basalt 43 251 0 294 1,610 18.3%
Unincorporated Pitkin County 14 74 0 88 3,975 2.2%
Total Pitkin County 1,867 2,262 2 4,131 13,612 30.3%
Garfield County
Carbondale 58 154 11 223 2,677 8.3%
Glenwood Springs 26 35 47 108 4,445 2.4%
New Castle 0 0 0 0 1,944 0.0%
Parachute 0 0 0 0 547 0.0%
Rifle 0 16 0 16 3,901 0.4%
Silt 0 0 0 0 1,337 0.0%
Unincorporated Garfield County 0 0 0 0 10,217 0.0%
Total Garfield County 84 205 58 347 25,068 1.4%
Total overall 1,951 2,467 60 4,478 38,680 11.6%
Source: CO State Demoraphy Office (SDO), Local planning offices, Economic & Planning Systems
Affordable Housing All Housing (2023)
HOW MUCH AFFORDABLE HOUSING IS THERE?
•There are nearly 4,500 units
of affordable housing in the
region
•Over 90% of units are in Pitkin
County
•65% of the region’s affordable
inventory (and 70% of Pitkin
County’s) is in Aspen
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 13
VACANCY
•Vacancy rates are much higher in Pitkin County than Garfield County, and have increased since
2010
•In this region, particularly in Roaring Fork Valley communities, “vacant” typically means a non-
primary home or vacation rental (not vacant for sale or rent)
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4. HOUSING MARKET
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 15
SINGLE FAMILY HOMES
•There is nowhere in the
region where the median
price of a single family
home is less than $1.5
million
•The most significant
annual growth rate in sale
price since 2020 occurred
in Woody Creek (25%),
followed by Snowmass
Village (20%) and Basalt
(15%)
Median Sale Price
Single-Family Residence 2015 2020 2024 Total Ann. #Ann. %Total Ann. #Ann. %
Upper-Valley
Aspen $5,600,000 $7,061,250 $7,300,000 $1,461,250 $292,250 4.7%$238,750 $59,688 0.8%
Snowmass Village $2,805,000 $3,623,750 $7,500,000 $818,750 $163,750 5.3%$3,876,250 $969,063 19.9%
Woody Creek $2,500,000 $4,094,000 $9,925,000 $1,594,000 $318,800 10.4%$5,831,000 $1,457,750 24.8%
Snowmass $1,225,000 $2,325,000 $2,676,563 $1,100,000 $220,000 13.7%$351,563 $87,891 3.6%
Subtotal $4,675,000 $5,122,500 $7,175,000 $447,500 $89,500 1.8%$2,052,500 $513,125 8.8%
Mid-Valley
Basalt $776,000 $1,030,000 $1,817,417 $254,000 $50,800 5.8%$787,417 $196,854 15.3%
Carbondale $627,000 $1,000,000 $1,505,000 $373,000 $74,600 9.8%$505,000 $126,250 10.8%
Subtotal $667,500 $1,020,500 $1,575,000 $353,000 $70,600 8.9%$554,500 $138,625 11.5%
Sales exclude the 5% of the highest and lowest sales by region
Source: Multiple Listing Service (MLS), Economic & Planning Systems
2015-2020 Change 2020-2024 Change
Upper-Valley
Aspen
Snowmass Village
Woody Creek (unincorp. county)
Snowmass (unincorp. county)
Mid-Valley
Basalt
El Jebel (unincorp. county)
Carbondale
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 16
Median Sale Price
Townhouse 2015 2020 2024 Total Ann. #Ann. %Total Ann. #Ann. %
Upper-Valley
Aspen $3,700,000 $5,850,000 $5,459,250 $2,150,000 $430,000 9.6%-$390,750 -$97,688 -1.7%
Snowmass Village $1,635,000 $2,230,000 $4,587,500 $595,000 $119,000 6.4%$2,357,500 $589,375 19.8%
Subtotal $3,075,000 $3,125,000 $4,800,000 $50,000 $10,000 0.3%$1,675,000 $418,750 11.3%
Mid-Valley
Basalt $501,900 $764,000 $1,250,000 $262,100 $52,420 8.8%$486,000 $121,500 13.1%
El Jebel $535,000 $680,000 ---$145,000 $29,000 4.9%---------
Carbondale $492,000 $757,000 $1,385,500 $265,000 $53,000 9.0%$628,500 $157,125 16.3%
Subtotal $501,900 $757,000 $1,289,375 $255,100 $51,020 8.6%$532,375 $133,094 14.2%
Sales exclude the 5% of the highest and lowest sales by region
Source: Multiple Listing Service (MLS), Economic & Planning Systems
2015-2020 Change 2020-2024 Change
TOWNHOMES
•Townhomes are less
expensive than single
family homes, but there
is nowhere in the region
where the median sale
price was less than $1.25
million in 2024
•Outside of Aspen,
median townhome prices
doubled or nearly
doubled in every
community between
2020 and 2024
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 17
CONDOS
•Condominiums were the
only housing type with a
median sale price under
$1 million in 2024 (in
Snowmass and
Carbondale)
•Median prices in Basalt,
Snowmass Village, and
Aspen were all over $1
million
•The median condo price
in all communities has
increased significantly
since 2020
Median Sale Price
Condominium 2015 2020 2024 Total Ann. #Ann. %Total Ann. #Ann. %
Upper-Valley
Aspen $1,137,500 $1,965,000 $2,700,000 $827,500 $165,500 11.6%$735,000 $183,750 8.3%
Snowmass Village $685,000 $829,977 $2,565,000 $144,977 $28,995 3.9%$1,735,023 $433,756 32.6%
Snowmass ---$395,000 $535,000 ---------$140,000 $35,000 7.9%
Subtotal $958,500 $1,177,500 $2,620,000 $219,000 $43,800 4.2%$1,442,500 $360,625 22.1%
Mid-Valley
Basalt $589,000 $599,900 $1,069,000 $10,900 $2,180 0.4%$469,100 $117,275 15.5%
Carbondale $409,500 $449,500 $732,500 $40,000 $8,000 1.9%$283,000 $70,750 13.0%
Subtotal $582,000 $525,000 $865,750 -$57,000 -$11,400 -2.0%$340,750 $85,188 13.3%
Sales exclude the 5% of the highest and lowest sales by region
Source: Multiple Listing Service (MLS), Economic & Planning Systems
2015-2020 Change 2020-2024 Change
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 18
RENTAL COSTS
•Rental data is not as readily
available as home sale data, and
current rental rates are hard to
capture
•CHFA’s statewide apartment
survey only includes the Glenwood
Springs metro, reporting median
rent of $1,800 in Q3 2025, up from
$1,145 in Q1 of 2022 (57%
increase)
•Zillow data for Garfield County
reports typical rent of $2,780 in
June 2025, a 12% increase from
June (reliable data is not available
for Pitkin County)
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5. AFFORDABILITY ANALYSIS
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 20
AFFORDABILITY IN PITKIN COUNTY
•The median income for
a 2-person household
was $100,600 in 2024,
up from $76,400 in
2010 (32% increase)
•This household can
afford $2,515 in
monthly housing costs
Pitkin County 30% AMI 60% AMI 80% AMI 100% AMI 120% AMI 150% AMI 200% AMI 250% AMI 300% AMI
2010
1-person Household $20,040 $40,080 $53,440 $66,800 $80,160 $100,200 $133,600 $167,000 $200,400
2-person Household $22,920 $45,840 $61,120 $76,400 $91,680 $114,600 $152,800 $191,000 $229,200
3-person Household $25,770 $51,540 $68,720 $85,900 $103,080 $128,850 $171,800 $214,750 $257,700
4-person Household $28,620 $57,240 $76,320 $95,400 $114,480 $143,100 $190,800 $238,500 $286,200
2024
1-person Household $26,400 $52,800 $70,400 $88,000 $105,600 $132,000 $176,000 $220,000 $264,000
2-person Household $30,180 $60,360 $80,480 $100,600 $120,720 $150,900 $201,200 $251,500 $301,800
3-person Household $33,930 $67,860 $90,480 $113,100 $135,720 $169,650 $226,200 $282,750 $339,300
4-person Household $37,710 $75,420 $100,560 $125,700 $150,840 $188,550 $251,400 $314,250 $377,100
Source: Colorado Housing and Finance Authority (CHFA), Economic & Planning Systems
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 21
WHAT CAN A 2-PERSON HOUSEHOLD AFFORD?
•2-person households in
Pitkin County earning
300% AMI ($301,800)
cannot afford homes in
the mid- or upper-
valley
•A 2-person household
still needs to earn
200% AMI ($201,200)
to afford the median
priced home in down-
valley communities
26
Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 22
UPPER VALLEY SALES BY AMI
•80% of sales in 2024 were only
affordable to households earning
over 400% AMI ($452,400 for a 3-
person HH in 2024)
•No sales in 2024 were affordable
below 120% AMI
•2020 and 2021 saw a record
number of overall sales
Upper Valley Sales by AMI, 2015-2024
(Aspen, Snowmass Village, Snowmass, Woody Creek)
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 23
MID VALLEY SALES BY AMI
•Nearly half (47%) of all sales in
2024 were only affordable to
households earning over 400%
AMI
–27% were affordable between 300-
400% AMI
•Only 2% of 2024 sales were
affordable between 80-150% AMI
•Like the Upper Valley, 2020 and
2021 saw higher-than-average
sales volume
Mid Valley Sales by AMI, 2015-2024
(Basalt, Carbondale)
28
Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 24
RENTAL AFFORDABILITY
•When people can’t
afford to buy a home,
they rent – putting
additional pressure on
the rental market
•A 2-person household
earning 100% AMI
could afford a
maximum of $2,515
monthly rent in 2024
Income Level
Description 30% AMI 50% AMI 80% AMI 100% AMI 120% AMI 150% AMI 200% AMI 250% AMI
Pitkin County
1-person Household
Annual Household Income $26,400 $44,000 $70,400 $88,000 $105,600 $132,000 $176,000 $220,000
Maximum Supportable Rent 30%$660 $1,100 $1,760 $2,200 $2,640 $3,300 $4,400 $5,500
2-person Household
Annual Household Income $30,180 $50,300 $80,480 $100,600 $120,720 $150,900 $201,200 $251,500
Maximum Supportable Rent 30%$755 $1,258 $2,012 $2,515 $3,018 $3,773 $5,030 $6,288
3-person Household
Annual Household Income $33,930 $56,550 $90,480 $113,100 $135,720 $169,650 $226,200 $282,750
Maximum Supportable Rent 30%$848 $1,414 $2,262 $2,828 $3,393 $4,241 $5,655 $7,069
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6. HOUSING NEEDS
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 26
OVERVIEW OF HOUSING NEEDS
Communities typically do not
address 100% of identified needs
By understanding the different
components of need, each
jurisdiction can set informed goals
and priorities and target available
resources
How much housing is addressed
within the region and each
jurisdiction ultimately depends on
regional and local capacity,
resources, partnerships, and policy
Existing housing demand (catch up need)
1.Reduce/eliminate overcrowding & temporary
housing conditions
2.Reduce long distance commuting
3.Address housing needs for unfilled jobs
Projected housing demand (keep up need)
1.10-year employment growth
2.Units to accommodate employees filling jobs
vacated by retirees
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 27
PITKIN COUNTY NET HOUSING NEED BY AMI
•Total need of 2,853 units over the next 10 years
•Need is concentrated in Categories 2 and 3
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 28
10 YEAR REGIONAL GROSS NEED
•In Pitkin County, the need is:
~59% existing shortage
~41% projected need
•Existing housing demand is split
relatively evenly across the
region
–48% of need in Pitkin
–52% of need in Garfield
•Future housing demand is
concentrated in Garfield County
–72% of need in Garfield
–28% of need in Pitkin
Components of Regional Housing Need
Description Count Share Count Share Count Share
Existing Housing Shortage
Overcrowding and Temporary Housing 247 8.7%601 12.4%848 11.0%
Commuting 916 32.1%157 3.2%1,073 14.0%
Unfilled Jobs 524 18.4%1,047 21.7%1,571 20.4%
Total Existing Housing Shortage 1,687 59.1%1,805 37.3%3,492 45.4%
Projected Housing Need
Employment Growth 2025-2035 631 22.1%2,019 41.8%2,650 34.5%
Retirees 535 18.7%1,011 20.9%1,546 20.1%
Total Projected Housing Need 1,166 40.9%3,030 62.7%4,196 54.6%
Total Units Needed through 2035 2,853 100.0%4,835 100.0%7,688 100.0%
Pitkin County Garfield County Total
Source: U.S. Census Bureau, Colorado Dept. of Labor and Employment, Longitudinal Employer-Household Dynamics, Colorado
State Demographer's Office, 2019 Greater Roaring Fork Regional Housing Study, Economic & Planning Systems
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 29
PIPELINE
•Affordable units in the development
pipeline in each community are netted
out of gross need to get final net need
–Units under construction are netted out of
existing shortage
–Entitled units are netted out of projected
need
•641 total pipeline affordable units in
region
–357 within Pitkin County
Location Project Name Affordable Market Total
Under Construction
Aspen Lumber Yard 277 0 277
Basalt Tree Farm 40 0 40
Total Under Construction 317 0 317
Entitled
Aspen Aspen Hills 11 11 22
Aspen 1020 East Cooper 4 0 5
Aspen 120 Main St 2 0 2
Aspen 808 Cemetery Lane 1 0 1
Basalt Basalt Center Circle 17 48 65
Basalt Basalt Commercial Park Lot J 3 0 3
Basalt Stott's Mill 2 0 2
Total Entitled 40 59 100
Source: Local planning departments, Economic & Planning Systems
Unit Count
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 30
Existing Projected Net % County % Regional
Description Shortage Need Need Need Need
Pitkin County 1,408 1,137 2,545 100%35%
Aspen 643 603 1,246 49%17%
Snowmass Village 300 208 508 20%7%
Basalt 173 125 298 12%4%
Unincorp. Pitkin County 291 201 493 19%7%
Garfield County 1,685 2,947 4,631 100%65%
Carbondale 209 387 596 13%8%
Glenwood Springs 629 1,196 1,825 39%25%
New Castle 58 68 126 3%2%
Silt 41 69 111 2%2%
Rifle 279 428 707 15%10%
Parachute 48 95 143 3%2%
Unincorp. Garfield County 420 703 1,122 24%16%
Regional Total 3,092 4,084 7,176 100%
Note: Figures may not sum due to rounding
Source: U.S. Census Bureau, Colorado Dept. of Labor and Employment, Longitudinal Employer-
Household Dynamics, Colorado State Demographer's Office, 2019 Greater Roaring Fork Regional
Housing Study, Economic & Planning Systems
10 YEAR REGIONAL NET NEED
•Regional 10-year net housing
need is ~7,180 units
–2,545 units in Pitkin County
•Per SB-174, share of jobs is
used to distribute need across
the County
–Pipeline developments in each
community are then netted out of
need
Regional Net Need Allocation by Percent of Jobs
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 31
ASPEN’S SHARE OF NEEDS
Description Total Owner Rental Total Owner Rental Total Owner Rental
Extremely- to Very Low Income
Category 1 (<50% AMI)216 0 216 0 0 0 216 0 216
Low Income
Category 2 (51% - 85% AMI)85 67 18 261 78 183 347 146 201
Moderate Income
Category 3 (86% - 130% AMI)61 61 0 259 129 129 319 190 129
Middle Income
Category 4 (131% - 205% AMI)120 72 48 55 37 18 175 109 66
Category 5 and above 161 161 0 161 161 0
Category 5 (206% - 240% AMI)8 6 2 8 6 2
Greater than 240% AMI 20 20 0 20 20 0
Total 643 361 282 603 271 332 1,246 632 614
Source: U.S. Census Bureau, Colorado Dept. of Labor & Employment (CDLE), LEHD, CHFA, Economic & Planning Systems
Aspen
Existing Shortage Projected Need Net Housing Need
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 32
Description Total Owner Rental Total Owner Rental Total Owner Rental
Extremely- to Very Low Income
Category 1 (<50% AMI)31 0 31 0 0 0 31 0 31
Low Income
Category 2 (51% - 85% AMI)69 21 49 89 27 62 158 48 111
Moderate Income
Category 3 (86% - 130% AMI)61 30 30 88 44 44 149 74 74
Middle Income
Category 4 (131% - 205% AMI)44 26 18 21 13 8 65 39 26
Category 5 and above 95 76 19 95 76 19
Category 5 (206% - 240% AMI)3 2 1 3 2 1
Greater than 240% AMI 7 7 0 7 7 0
Total 300 153 147 208 92 115 508 246 262
Source: U.S. Census Bureau, Colorado Dept. of Labor & Employment (CDLE), LEHD, CHFA, Economic & Planning Systems
Snowmass Village
Existing Shortage Projected Need Net Housing Need
SNOWMASS VILLAGE’S SHARE OF NEEDS
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 33
Description Total Owner Rental Total Owner Rental Total Owner Rental
Extremely- to Very Low Income
Category 1 (<50% AMI)55 0 55 0 0 0 55 0 55
Low Income
Category 2 (51% - 85% AMI)62 19 44 86 26 60 148 45 104
Moderate Income
Category 3 (86% - 130% AMI)50 25 25 85 43 43 135 68 68
Middle Income
Category 4 (131% - 205% AMI)49 29 20 21 12 8 70 42 28
Category 5 and above 75 60 15 75 60 15
Category 5 (206% - 240% AMI)3 2 1 3 2 1
Greater than 240% AMI 7 7 0 7 7 0
Total 291 133 158 201 90 112 493 223 270
Source: U.S. Census Bureau, Colorado Dept. of Labor & Employment (CDLE), LEHD, CHFA, Economic & Planning Systems
Unincorporated Pitkin County
Existing Shortage Projected Need Net Housing Need
UNINCORP. PITKIN COUNTY’S SHARE OF NEEDS
38
NEXT STEPS
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Economic & Planning Systems, Inc.Roaring Fork Valley Housing Needs Assessment 35
NEXT STEPS
•Finalize initial Housing Needs Assessment
•Work with staff to prepare and submit Prop 123 Rural Resort Income Limit Petition
(using the HNA)
•Complete SB-174 compliant Housing Needs Assessment (add supplemental data to
this analysis)
•Begin work on SB-174 compliant Housing Action Plan
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QUESTIONS & DISCUSSION
41