Full-time residents in mountain resort communities are seeing different problems from second homeowners, according to a new study commissioned by the Northwest Colorado Council of Governments and the Colorado Association of Ski Towns.
The survey was completed by 4,000 people across five counties in the Northwest Colorado region, including Eagle, Grand, Pitkin, Routt and Summit counties. Individuals were asked about their income bracket, residency status and other factors.
Compared to the other surveyed counties, Grand County reported the lowest percentage of full-time residents.
Full-time, year-round residency varied a great deal between the five counties, ranging from a low of 54% in Grand to a high of 77% in Routt County.
Of the 666 respondents from Grand County, 54% (359 people) identified as full-time residents, while 43% (286 people) said they owned a second home or vacation property in Grand County. Summit County’s statistics were very similar, 55% of respondents (628 people) identified as full-time, year-round residents while 42% (480 people) identified as second homeowners.
The survey came to the conclusion that “softer” full-time residency and higher second-home ownership in Summit and Grand counties could mean that “the proximity to the Denver Metro area is a catalyst for a more transient type of resident base in these communities”.
The data reported a 2.4-to-1 ratio of full-time, year-round residents to second homeowners across all counties. As a result, this may lead to a lower focus on resident-centric policy by both residents and leadership.
On the other side of the spectrum, second homeownership decreases with distance from the Denver urban area. Routt County reported the smallest number of owners in this category, at 21%. According to the survey’s findings, this suggests that second homeowners are looking for easy access to their units. The survey also found another pattern consistent across all counties; income levels for second homeowners and investment property owners are higher than income levels of full-time, year-round residents who either own or rent their residence.
Resort community residents are also more likely to be older and acutely wealthier than the U.S. population. The survey attributed this fact to the cost of living in resort communities, which can be a barrier for younger residents. Despite this, the wealthy (defined as $300,000 or more in household income) are less likely to be full-time, year-round residents and more likely to be second homeowners.
The survey reported the income bracket of 485 respondents from Grand County, with 13% (63 people) reporting under $50,000 and 23% (111 people) reporting $50,000 to $99,999. The average per-person income for Grand County, according to census.gov, is $43,553.