Our community, along with many resort communities, have lost many local workers at the inception and during COVID. Shifts in where people live and work have quickly changed the fabric of our local residents and workers. Many remote employees have decided to live in Summit County. Many sellers who were long term renting their properties are selling to take advantage of historically high sale prices. If you have been to Summit County recently, you may have noticed that many retail businesses and restaurants are closed or not operating at full capacity. The conversation has become intense as colliding interests of locals, employers, tourists, ski resorts, property owners, government and business present a myriad of issues with no easy solutions.

For background, in Summit County, there are 32,085 residential units. Deed restricted units (locals must own/occupy) account for 2,079 units, leaving 30,006 market rate units. According to Chalet, there are 7,451 properties in Summit County on AirBNB. This constitutes 24.8%, or about one quarter of properties. There isn’t a data source to confirm the number of all short term rentals in Summit County. Many argue that limiting or restricting further Short Term Rental licenses will provide more housing for locals. Others argue that short term rental properties should be taxed like commercial hotels, thus resulting in less income for owners and perhaps encourage them to rent long term to locals.

While Summit County and local municipalities haven’t decided to put a moratorium on short term rental licenses, the topic does remain on the table. A local Frisco resident is bringing a petition to put restrictions on short term rentals on the ballot.

We have been watching this issue carefully and have collected a number of resources in this document. If you have questions or want to hear more about this topic, let me know and we will continue to cover this important issue.

Short Term Rental Articles and Resources

Summit Daily Article: Latest report shows signs Summit County’s real estate market might be stabilizing
Lots of great #’s in this article (Dated July 31)

  • Average price of a resale single family home is nearly $1.4 million.
  • In June, there were 245 residential transactions totaling well over $255 million in gross sales volume:
    • 77 were priced at over $1 million
    • 194 were priced over $500,000.
    • 27% of the transactions were bought by locals for June.
    • 45% were bought by people living in the Front Range
    • 28% were bought by people living out of state.
    • 105 were Texas buyers
    • 48 were Florida buyers
    • 31 were California buyers

Alpine Inn is accepting applications for Workforce housing

STR rental experts explain impact on Summit County Affordable Housing issue

Workforce housing concerns.

Fact: Silverthorne has 169 registered short-term rentals, good for about 6% of the town’s housing stock.

Illegal STR’s in Grand County

Fact: 915 active short-term rentals in unincorporated Grand County, which is the county north of Summit County. Over half of Grand County’s short-term rentals — 493 units — are unregistered.

Next steps in housing strategies: Key Players

Summit County staff outlines strategies to mitigate affordable housing ‘crisis’

Breckenridge adding as many deed restrictions as possible

Summit officials hope to strike a balance with short-, long-term housing needs

70% of the county’s housing supply is vacant homes and 30%

Letter to Editor: Poll shows residents oppose rental limits

Interesting that the 66% opposition to the Frisco housing petition

Opinion | Kim McGahey

Short-term rentals are the precious metals of our boom economy

Mountain Town STR Moratorium

Mountain Towns Weigh Moratorium on New Short Term Rentals

Vail rejects STR Moratorium

Vail Daily Article: Rejects Short Term Rental Moratorium

Summit County Census

Summit County Census Numbers

  • Total residential units in Summit County: 32,085 (as of 2019)
  • Summit County deed restricted units: 2,079
  • Total STR licenses in Summit County: 4,230**

Active Rentals

**ACCORDING TO CHALET – There are 7451 active rentals

2020 Abstract of Assessment

2020 Abstract of Assessment and Tax Rate Document

abstract of assessment

Natural Gas Dilemma

Fraser Valley in Grand County

Crested Butte Case Study

AirBnB Impact on Real Estate

 

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