“The prices have gone up really, really high in the last few years,” Murphy explained. “There are a lot of people who are struggling to live here, and just not enough units.”
It’s struggle is finding a way to keep costs down for residents, while getting more homes built at the same time. It’s part of why they’ve turned to deed-restricted homes, like the ones built in the Smith Ranch Community in Silverthorne. There have always been more applicants for the deed-restricted homes in Summit County than homes themselves, so they’ve taken to using a lottery system for new builds. The latest and last lottery just finished in March, with 27 lucky people getting the opportunity of a lifetime, and 84 people getting nothing but massive disappointment.
Rent prices have gone up as well. It’s not uncommon for people to offer spare rooms up in homes for thousands of dollars, showing the market value of even part of a home. Some simply are unable to afford living here, and that is changing the shape of the county, according to Murphy.