Colorado Faces 106,000-Unit Housing Shortage Despite Growth

Colorado faces a housing shortage of 106,000 units as of 2023, down from a 2019 peak of 140,000, with the state needing to build about 34,100 new homes annually over the next decade to prevent further shortfalls. Governor Jared Polis emphasizes reducing government barriers and supports policies like removing parking requirements to improve affordability and increase housing supply. Despite building an average of 43,000 units yearly between 2020 and 2023, affordability remains a major issue due to rising construction costs and higher interest rates. The state is collaborating with local governments and community organizations to continue addressing these challenges, including investments in infrastructure and streamlining permit processes. Meanwhile, federally, Canada launched the Build Canada Homes agency with a $13 billion investment focusing on affordable non-market housing and factory-built homes, although some provinces like British Columbia are not among the initial target locations. Additionally, Idaho faces its own housing affordability crisis, with Senator Mike Crapo proposing the bipartisan ROAD to Housing Act to cut red tape and increase housing supply for low-income renters.