Growth comes with challenges, and one of the greatest we currently face is housing. Supply has not kept up with our rate of growth — we have more families than we have homes. Utah currently has a shortage of approximately 50,000 housing units and the gap continues to grow. This growing chasm has contributed to the rising prices of homes: current home prices are 20% higher than in neighboring states. Our economy can’t succeed without a workforce, and our workforce can’t exist without housing.
In May 2018, the Salt Lake Chamber convened the Housing GAP Coalition to address the high priority the business community places on housing. Employers can’t recruit or retain employees if those employees can’t live in their communities. The Coalition works closely with state and local governments to raise public awareness, to implement best practices, and to create policies that will make space for smart growth.
MEDIAN SALES PRICE OF NEW SINGLE-FAMILY HOME VS. PERCENT OF HOUSEHOLDS ABLE TO AFFORD A NEW SINGLE-FAMILY HOME
Member Survey Results on Affordable Housing