Housing and Affordability
Vision: We will support good solutions that address affordability for all who choose to live and work here.
Housing Unit Characteristics
Cost-burdened housing refers to housing where the occupants spend more than 30% of their household income on housing costs. According to convention, households that spend 30 percent or more of their income on housing are considered "burdened" by housing costs that they may not be able to afford. While the 30-percent rule of thumb is not a perfect measure of unaffordable housing, it can be a useful indicator for identifying vulnerable households. As noted in the chart to the right, from 2014-2018, 29.92% of Park County residents are spending over 30% of their income on housing.
Real Estate Market
Local data on Park County's housing market shows a steady increase in median sales price for homes from 2015 to 2019 for single-family homes. The median sales price for multi-family structures increased from 2015 to 2018, but dropped off in 2019. The number of new listings per year slightly declined, as compared to 2015, from 2016-2018 but increased again in 2019. Data here is based on the December year-to-date listing information for each year shown.
About the Data
The Park County Community Foundation articulated the community vision after hearing thoughts from more than 700 community members including: discussions with nonprofits and other community leaders; a county-wide survey with more than 640 responses; and six focus groups throughout the county. To help the community measure and achieve progress towards the vision, we used insights from more than 70 sources and expert interviews to develop a community dashboard of key metrics.
The American Community Survey (ACS) provided data for the following charts:
• Occupied and Vacant Housing Units: Table B25002.
• Housing Units by Tenure: Table B25124.
• Cost Burdened Housing is based on table B25106; LiveStories calculated the percentage by summing housing units where housing costs comprise 30% or more of the occupants' household income, along with households with zero or negative income. This sum is then divided by the total number of occupied housing units and multiplied by 100. For owner-occupied housing units, the costs are monthly owner costs; for renter-occupied units, the costs are gross rent.
This report uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Data for Real Estate Market was accessed by Park County via Big Sky Country MLS.