A Colorado town of 13,000 is struggling with a dire housing crisis that has left local ski resort workers forced to stay in hotels and the hospital struggling to hire staff, NBC reports.
In the Steamboat Springs community, the price of single-family homes has increased 80% since 2020, reaching a median value of $1.8 million, or about $2.4 million Canadian.
During this period, homeowners saw their property taxes increase by 86%. Purchasing a home in Steamboat Springs with an income of less than $200,000 has become virtually impossible.
The city government is also unable to hire a human resources manager because the offered salary of $167,000 a year is not enough to buy a home in Steamboat Springs.
The local hospital says offers from many doctors willing to pay more than $1 million for residency training were significantly exceeded by outside buyers.
The small town, whose economy depends heavily on its ski resort, has become a popular location for Olympic winter athletes.
Now the ski resort must rent a hotel to house its employees because apartments and houses that were once available for rental are now Airbnb-style accommodations.
“Previously, houses were used by our employees and hotels accommodated visitors. Now the houses are rented by visitors and the hotels are used to accommodate our employees,” laments the communications director of the Steamboat Ski Center.
She regrets that some of her employees have young families and are starting their careers but are unable to gain a foothold in the city due to the housing crisis.
Thanks to an anonymous donation of $24 million, the city was able to acquire a site measuring just over two square kilometers to build around 2,200 residential units. Sales and rentals of these units would be limited to individuals who work and live full-time in Steamboat Springs.
The hospital has also embarked on a real estate project with 42 apartments, whose rents cannot exceed 30% of the income of the employees living there.