What is the housing gap?

 

Utah has a Housing Gap Challenge. Since 2010, Utah has added four new households for every three new housing units. For the first time in 40 years, Utah has more households than available housing; creating a gap that’s affecting over 54,000 families and individuals. This supply and demand challenge is a large component to the state’s skyrocketing housing prices, making living in Utah unaffordable for many.

 

How does it affect me?

 

Utah’s housing gap poses a serious threat to our state’s economic prosperity.  Housing prices in Utah are growing faster than San Francisco, Seattle and San Jose. Over the last five years, the mortgage payment on a median single-family home in the state has increased by 56%. Not only is housing getting more expensive, but commute times are getting longer, traffic is becoming more congested, schools are more crowded and water availability is strained. Responsible growth and wise utilization of recourse will help preserve Utah’s strong quality of life.

 

The state’s population has doubled in the past 30 years. It took 148 years for the state to reach 2 million residents, but it will only take 36 years to get to 4 million residents. The misconception is that this growth is from individuals moving into the state, when in reality the majority of Utah’s growth is internal. Tackling Utah’s housing gap is about securing the future for your kids, grandkids and aging parents. We want to make sure that Utahns at every stage in life have communities they love at prices we all can afford.

 

What can I do?

 

How can you help solve Utah’s Housing Gap? Start saying yes to well-planned growth. Encourage your local elected officials to support diverse housing options for every stage of life.

 

Utah’s Housing Gap Coalition supports plans and developments that build and preserve desirable communities with:

  • A healthy mix and balance of housing types
  • A variety of options for transportation (biking, walking, transit – in addition to driving).
  • Opportunities for recreation and preserved open space
  • Well-planned, efficient infrastructure that will integrate well with existing communities
  • Reasonable commute times and access to good jobs

 

By working in unison, we can solve the state’s housing problem and help preserve the communities we love with housing prices we can all afford.