Gunnison Valley Regional Housing Needs Assessment

The Gunnison Valley runs on two economies that produce two different housing problems. Crested Butte’s ski resort drives seasonal wage swings and short-term rental conversions. Gunnison’s university creates steady year-round demand but at wages that can’t compete with resort-driven prices.

Workers priced out of Crested Butte used to find something affordable down valley. That release valve has closed.

Homes sold under $500,000 in the South Valley dropped from 59% of sales in 2021 to 27% in 2023. The South Valley median jumped from $535,000 to $725,000 in two years. At 7,700 feet, with little developable land, the valley’s only affordable option is now its deed-restricted inventory, where homes sell at $260,000 to $290,000.

Western Spaces, with WSW Consulting and Urban Rural Continuum, prepared a regional housing needs assessment covering the county and its municipalities. The analysis mapped how seasonal employment, short-term rental conversions, and a shrinking affordable supply interact — pressures that affect the valley unevenly and resist a single fix. The findings supported Gunnison County’s Proposition 123 compliance and informed affordability initiatives across the region.