The goal of the Breckenridge Housing is to support the Town's community character and viable economy, as called out in the Breckenridge Vision Plan (created in 2002), by ensuring residents can live, work, play and raise a family in Breckenridge.
Breckenridge Housing Targets
47% of the Breckenridge workforce lives in the community (27%)
A balance of 35% of resident housing and 65% vacation/lodging (29%)
*target status as of 12/31/21*
Workforce housing is an issue across Colorado communities and especially in resort communities. Housing and migration trends - including critical workforce shortages - have come out of the Coronavirus Pandemic and exacerbated the challenges of workforce housing for residents and thus threatened our economy and ultimately the character, vitality, diversity of our community.
In the 2020 Summit County Needs Assessment, Breckenridge's projected housing need for 2023 is an additional 1,171 units (841 sale, 330 rental). The NEED today is likely much higher as the study was done before the pandemic which accelerated many factors (market conditions, influx of remote workers, unprecedented price escalation) and notable migration of locals leaving due to housing and financial stress.
The Town of Breckenridge has always taken a proactive approach through a variety of housing projects, programs and polices to invest in local employees, but the stakes have never been higher to achieve a balance in our community. CLICK HERE to learn about how Breckenridge Housing is funded, including the NEW Short Term Rental Fee, effective Jan 1, 2022.
HISTORY OF BRECKENRIDGE HOUSING
As a result of the Town’s adopted development code, in 1988 the first dedicated workforce units were established in Breckenridge. The code is a combination of traditional performance zoning and development incentives for public benefits such as deed restricted housing. As the community has evolved, the deed restrictions have become more sophisticated by incorporating elements like requirement of full-time work in Summit County, income testing, and appreciation limits.
Today, as the community has continued to thrive, housing factors have become more complex and the Breckenridge Housing has become an even more proactive force through collaboration and partnerships to ensure the Town's community character and viable economy remain sustainable and vibrant.