Steamboat Springs, Colorado, like many other resort communities, is facing a challenge in recruiting staff due to the high cost of housing. The median listing price for homes in Steamboat Springs is $2 million, and the median rent is roughly $4,000 a month, making housing unaffordable for many job candidates. This has made it difficult for the city government to fill positions, including a human resources director role with a six-figure salary.
The rising housing costs in resort communities like Steamboat Springs have made it challenging for local businesses to staff up. Wealthy individuals purchasing second homes in these areas have driven up housing costs, exacerbating the issue. The city’s struggle to fill the HR director role is emblematic of the broader housing challenges in higher-end areas, where even high-income earners may struggle to afford housing.
Home prices in the country’s largest metro areas increased by an average of 6.7% in 2023, pushing home ownership out of reach for many people. To make job offers more appealing, the city of Steamboat Springs has added a signing bonus for certain positions. However, even with signing bonuses, it can be challenging to recruit and retain staff, especially for lower-paying roles like rodeo maintenance workers.
The city is in the process of building dormitory-style housing to accommodate some of its government staff, many of whom earn less than six figures annually. Housing challenges affect every level of the organization, from management positions to entry-level roles like bus drivers. The town’s ski resort provides housing for up to 800 staff members at below-market rates, alleviating some of the housing pressure faced by employees.
Overall, the housing affordability crisis in Steamboat Springs and other resort communities underscores the broader challenges facing workers in high-cost areas. While signing bonuses and additional incentives may help attract certain candidates, the fundamental issue of soaring housing costs remains a significant barrier to recruitment and retention. Addressing this issue will require a multifaceted approach, including policy solutions and public-private partnerships to create more affordable housing options for workers at all income levels.
