Income not keeping up with rising housing costs

New reports from the U.S. Department of Housing and Urban Development indicate the median family income in Teton County, Wyoming rose over 3% in 2018. But, local officials say that is not keeping up with the cost of housing.

“While we are happy to see that incomes are going up, it is unfortunately not keeping pace with rental rates that, according to the Wyoming Cost of Living Index, rose 13.5% for apartments and 9.2% for houses last year,” said Jackson/Teton County Housing Department Director April Norton.

Norton said Teton County offers two programs to serve working families.

The “Affordable Program” is based on household income and total asset worth. Applicants must earn less than 120% of the medium family income for Teton County.

The “Workforce Program” requires that at least 75% of household income is earned locally, but has no income or asset limits.

To be eligible for both programs, applicants must work full-time for a local business.

“I hope people who are seeking housing will take time to learn about the programs that are offered through the Housing Department, Housing Trust, and Teton Habitat,” Norton said. “Between the three organizations, we are providing housing opportunities for families across the income spectrum.”

People looking for assistance can find an online intake form at the Affordable Housing program website.

Check here for more information about the Housing Trust or Teton Habitat.