Since 2007, household incomes in Eagle County have increased by 6%, whereas median home prices have surged by 20%, and average rental rates have experienced a substantial increase of 48%.
Our Residents
As of 2022, the median home price in Eagle County reached $975,000, contrasting sharply with the average local household's buying power of $505,610, creating a significant Affordability Gap of $469,390. Of the total 31,912 homes in the county, more than 44% are either vacant or used by part-time residents.
Prospective buyers prioritize affordability and location but often find themselves vying with second homeowners and investors across all price segments, complicating their quest for suitable housing.
Furthermore, Eagle County faces critically low vacancy rates for rental properties, constricting options and inflating costs for renters. The prime concern for renters is proximity to work. Yet, the surge in short-term rentals has restricted available options, leading to overcrowding or inadequate living conditions for the remaining housing stock. This situation forces many renters to endure lengthy commutes, aggravating environmental issues and traffic congestion. Remarkably, 75% of renters wish to move within five years, with 90% aiming for homeownership.
What can we do?
Support our residents by backing housing initiatives that give them priority. By creating housing opportunities exclusively for locals, we can reduce their need to compete with buyers from outside the area and protect them from sharp increases in housing prices. Our residents should have the chance to concentrate on their lives, families, friends, contributions to the community, and future savings. Let's enable our community to have the autonomy to forge and safeguard their futures.