Report Highlights Four Key Strategies to Tackle Wyoming’s Housing Shortage

A new report outlines four strategies to address Wyoming’s housing shortage, emphasizing the need for increased funding and regulatory reform.

Report Highlights Four Key Strategies to Tackle Wyoming’s Housing Shortage
Report Highlights Four Key Strategies to Tackle Wyoming’s Housing Shortage

Cheyenne: Back in February, the Wyoming Community Development Authority released a housing needs assessment. It showed that housing development in Wyoming isn’t keeping pace with the expected growth.

In June, they teamed up with Abt Global, a research firm, to create a detailed plan to tackle this issue. On Thursday, Abt Global shared their findings from a comprehensive 111-page report, which you can check out on the WCDA’s website.

If you’re not up for reading the whole thing, they also made a handy local policy tool. It’s an interactive map that helps folks see the best strategies for their specific counties based on things like affordability and population.

The action plan was built from interviews with key stakeholders, public housing forums, and a review of over 100 housing documents. They even got feedback from 114 additional stakeholders through an online survey.

WCDA Executive Director Scott Hoversland mentioned that this is just the start. There’s still a lot to do, but they’re laying the groundwork for the future.

The assessment revealed that Wyoming needs to add between 2,070 and 3,860 housing units each year from 2024 to 2030. In 2023, only 1,681 units were added, meaning developers need to ramp up production significantly to meet demand.

Abt Global’s plan outlines strategies to hit these targets while keeping Wyoming’s values in mind. The first strategy is to boost resources for housing and infrastructure development.

According to their survey, 70% of respondents pointed to high development costs and limited funding as major barriers. To tackle this, they suggest increasing funding for housing development, possibly through a flexible housing development fund.

Wyoming is one of only three states without such a fund. They also recommend empowering localities to raise funds through various taxes and fees to support housing initiatives.

Another part of this strategy involves targeted infrastructure expansion, like enhancing the Wyoming Grants Assistance Program to help localities secure loans and grants.

The second strategy focuses on improving access to safe, quality, and affordable housing for homebuyers, homeowners, and renters. This includes funding for home repairs and expanding programs like Habitat for Humanity.

For renters, they suggest providing rehab and rental assistance to prevent homelessness and support eviction prevention efforts.

The third strategy aims to reduce regulatory and land access barriers for new housing development. This could involve helping localities identify and tackle these barriers, like the updates Cheyenne made to its development code.

They also recommend ensuring community input while streamlining the approval process for housing projects.

Finally, the fourth strategy is about building capacity among public and private actors. This includes improving access to funding opportunities and addressing gaps in the housing workforce.

Abt Global suggests making training and licensing easier to attract skilled workers to Wyoming, as some neighboring states offer better opportunities.

They also see potential in expanding modular and manufactured housing construction to provide cost-effective solutions and create jobs.

Ultimately, it’s up to the state and communities to decide which strategies to prioritize. Abt Global has outlined some recommendations and a timeline for potential changes as Wyoming’s legislative session kicks off this week.

Disclaimer: All images comply with fair use for educational and informational purposes. Sourced from public platforms. Have questions? Contact us.
Fact-Checking Policy: Accurate information is our focus. If errors are found, please let us know, and corrections will be made swiftly.