Responding to a state law, the town of Avon has conducted a housing needs assessment that includes both the town and the entire valley. That work could provide initial information for a valleywide housing authority.

Avon Town Manager Eric Heil shared that information Friday at a meeting of valley town managers, mayors and other local officials.

Heil said the assessments are being done to comply with state Proposition 123, and to qualify rural resort regions for funding. But, he added, since no state guidelines are available yet for local and regional action plans, the thinking is to just go ahead and see “if we get state deference” on local work.

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The housing assessment was conducted by Economic & Planning Systems, a Denver-area firm that has worked for several local governments.

Heil said the valley’s communities have “kept up” with demand, based on a housing assessment from six years ago. On the other hand, he noted there’s less available land on which to build, and construction costs have increased.

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While the valley’s shortage has stayed relatively even over the past half-dozen years, that shortage will grow over the next decade.

According to projections, the valley’s housing shortage will grow from the current 2,638 units to 6,375 units by 2035. That growth is based on both growth in employment and in the number of people retiring and moving to the valley over the next 10 years.

As you’d expect, most of those new jobs will be in Vail and Avon, which will account for 50% of the projected growth in employment.

Given that many of those jobs will be serving the valley’s tourist industry, the need will be concentrated among those making between 50% and 100% of the area median income. And, given that people want to live closer to where they work, demand for housing will be closer to those jobs.

According to a survey on the needs in the assessment, more than 36% of respondents said they’d prefer to live in Edwards, with another 20% in Vail and 19% in Avon.

Most of those people will rent, Heil said. Ownership just isn’t “economically viable” for most people, Heil said. And for most people, living closer to work also means living in multi-family housing.

Next steps in creating a housing plan could include creating a multi-jurisdictional housing authority. That will take both time, meetings, and, probably, voter approval for funding as well as other revenue authorizations, deed restriction acquisitions and the other large and small details required to put together a local authority.