Housing has long been a cornerstone of the American dream, but today, the U.S. faces a housing crisis with a shortage of over 4.5 million homes. A decade of underbuilding and rising demand from younger generations are driving up prices and limiting access to affordable housing.
The Ripple Effect: This shortage affects more than homebuyers—it slows economic growth, hampers job creation, and makes it harder for businesses to attract and retain talent due to high housing costs.
The Business Opportunity: Addressing the housing crisis offers businesses a chance to contribute to the solution. By supporting efforts to increase housing supply, companies can help drive economic growth and stability.
WY it Matters: It’s time to focus on solutions. Wyoming’s housing shortage isn’t just a challenge—it’s an opportunity to take action. By supporting new construction, affordable housing, and innovative strategies, we can unlock lasting economic benefits for our communities.
A crucial step? Permitting and regulatory reform. Streamlining these processes will increase housing supply, reduce costs, and help businesses thrive.
Economic Impact of Wyoming’s Housing Shortage:
-
$1B in lost economic output
-
$438M less in personal income
-
6,654 jobs not created
(*U.S. Chamber Analysis, REMI+ Economic Model)
Current Housing Market in Wyoming:
-
Median listing price: $459,925
-
Price per square foot: $205
-
Total listings (Jan): 2,282
-
New listings (Jan): 560 (24.5% of total)
-
Median days on market: 89
(*Realtor.com, Jan 2025)
The Wyoming Chamber is committed to addressing this issue. With your support, we can ensure a brighter, more prosperous future for our state.
