PARK CITY, Utah—Park City and Summit County are facing a significant housing crisis, with a desperate need for more affordable housing.
According to information shared by Housing Resource Center, and pulled from the 2021 housing needs assessment, over 70% of homes in Park City are either vacant or second homes. Less than 20% of homes are owner occupied.
Park City housing inventory totals 10,440 units. 3,399 units are occupied, and 7,041 are vacant. Vacant units are due primarily to second homes and recreational use, which account for 6,750 or 96% of vacant units. Owner-occupied units total 2,230 units and renter-occupied units 1,169 units.
The situation is compounded by the fact that Park City is the only city in Utah where workers outnumber the population. With 11,000 workers compared to just 8,500 residents, it’s clear that there is a significant demand for housing.
The impact on the community is profound, as over 85% of Park City’s workforce must commute to the town for work. This not only adds to transportation challenges but also affects the overall quality of life. In addition, the cost of living in Summit County is nearly 35% higher than the national average, making it increasingly difficult for families to make ends meet. In fact, the average home price in Park City alone exceeds a staggering $2 million.
While the area median income for a family of four is reported at $134,700, these numbers can be misinformed, as workforce wages are considerably lower. Park City and Summit County have average earnings per job of $4,000 lower than the state of Utah. This is $10,000 less than the national average of $74,153, highlighting the financial challenges faced by the local workforce.
According to the Housing Resource Center, the housing crisis in Park City and Summit County is a pressing issue that demands attention. With skyrocketing home prices, low owner-occupancy rates, and a significant wage gap, urgent action is necessary to create more equitable housing opportunities for residents.
How You Can Take Action:
- Join the coalition of YIMBYs, and speak up for affordable housing – Sign Up Here
- Share your story if the housing crisis has affected you or your family – Share Your Story Here
- Help spread the word on social media – Assets Here
- Donate and help meet a $1 million match by September 30, 2023 – Donate Here
Local Housing Story’s:
Kara is a teacher who spent seven years commuting from Salt Lake to Park City to teach before her family could access affordable housing.
Diego is a local leader and community convener, Diego Zegarra works tirelessly to create a more equitable and just Park City. Purchasing an affordable housing unit offered him stability and belonging.