2016 EAGLE COUNTY HOUSING UPDATE

Eagle County completed a Housing Needs Assessment in 2007, and a Nexus/Proportionality study for Commercial Development in 2008. The results of those two analyses were used as a basis for its 2009 Housing Guidelines. The 2012 Housing Needs Assessment was used to update the Housing Guidelines in 2014. Economic conditions in the United States, Colorado, and Eagle County have changed drastically since 2007-2008. Eagle County has gone from full employment (unemployment under 3%) to a rate of almost 9% unemployment in 2010, back to 3% in 2015. This see-saw of economic conditions has affected the housing market in Eagle County. Because 2007 was the height of the pre-recession growth period, the 2007 Housing Needs Assessment defined a need for affordable housing at its peak. Calculations in the 2008 Nexus study targeted ownership housing for workforce families earning 140% of Area Median Income (AMI). The 2012 Housing Needs Assessment provided an overview of post-recession needs for affordable housing which included lowering the target market for affordable housing to 100% AMI.

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