Getting the Valley's Housing in Order

The regional housing crisis is rife with both challenges and opportunities for communities from Aspen to Parachute. Perhaps the most optimistic sign is the growing awareness — socially, economically and politically — of how housing underscores community health, vitality and sustainability. This cohesive awareness is a critical step toward communities addressing together a shared burden.

A stark reminder was reported in the Wednesday, June 5 Aspen Times, revealing that the Aspen School District's Moody’s credit rating is taking a hit because of a low general fund reserve balance. A lack of affordable teacher housing also factored in: “The credit profile of Aspen School District is supported by Aspen’s highly-affluent economy, anchored by world-renowned Aspen and Snowmass Ski Resorts,” reported the Times, quoting a document from the rating agency. “Property value appreciation has accelerated in recent years due to strong demand in the area, including a 58% increase in assessed valuations for fiscal year 2024 to $5.5 billion. However, this economic strength and significant rise in property values presents challenges related to cost of living and housing affordability for district staff, which makes it more difficult for the district to attract and retain teachers, and subsequently increases the operating costs of the district.”

The housing issue has become a pressing concern throughout the region, where necessity becomes the mother of invention as seen in varied approaches striving to address a growing community crisis.