The US housing market faces an acute shortage, with a deficit of 4.5 million units driving high housing costs for renters and buyers alike, Wyoming News Now reports.
While multi-family housing is increasingly seen as a cost-effective and timely solution to the crisis, Wyoming remains one of the states least invested in this type of development, according to a recent analysis by Construction Coverage.
In 2023, just 15.6% of new housing units authorized in Wyoming were classified as multi-family, compared to the national average of 39.1%. This amounts to only 263 new multi-family units authorized in the state last year, a stark contrast to the 1,418 single-family units approved.
Wyoming’s existing housing stock reflects this trend, with just 16.9% of homes classified as multi-family—well below the national average of 28.6%.
Nationwide, multi-family construction has surged in response to the housing crisis. Once sidelined during the pre-2008 housing boom in favor of suburban single-family developments, multi-family housing has grown steadily since the market collapse. Today, multi-family homes account for 39.1% of new housing permits, up from just 24.3% in 2009.
This shift is driven by millennials’ preference for urban living and the economic advantages of higher-density housing. Apartments, condos, and townhomes offer faster, more affordable ways to expand housing supply, particularly in urban and suburban areas.
Wyoming’s sparse population and wide-open spaces contribute to a longstanding preference for single-family homes. Restrictive zoning regulations and lower demand for high-density housing also play a role, limiting the growth of multi-family developments.
Neighboring states with similar characteristics, like South Dakota and Colorado, are experiencing a boom in multi-family housing construction. In South Dakota, more than half of all new homes authorized in 2023 were multi-family units. Advocates argue that Wyoming could benefit from following suit to address housing shortages, particularly in areas experiencing growth.
Expanding multi-family housing is a key focus in bipartisan efforts to address the US housing shortage. Recent political momentum has aimed at reducing zoning restrictions and other barriers to development. However, Wyoming’s slow pace in multi-family construction highlights the challenges of implementing such solutions in states with traditionally low-density housing.
With only 58 units in larger complexes of five or more units approved last year, Wyoming remains far from aligning with the national trend. For policymakers, developers, and community leaders, this data underscores an opportunity to reconsider how multi-family housing could address local housing needs.
