Bureau of Business and Economic Research

Document Type

Technical Report

Publication Date

8-1-2010

Sponsorship

Research funded by University of New Mexico-Taos and the Town of Taos

Publisher

University of New Mexico, Bureau of Business and Economic Research

Abstract

This report presents the findings of a study done by the UNM Bureau of Business and Economic Research on contract for the Town of Taos, New Mexico, and UNMs Taos branch campus to analyze the Taos housing market. The initial objective was to assess the potential demand for student housing at the UNM-Taos Klauer campus; a broader objective was to understand the dynamics of housing supply and demand in the Taos economy. The study's findings confirm the perception that the Taos residential housing market is distorted; fewer than five percent of working households could afford a median-priced home in Taos County during the 2006-2010 study period. Two major factors leading to the housing affordability problem are: pressure put on the local housing market by second or 'vacation' homes; the limited supply of land for high-density housing within Taos County. Data are displayed in tables and charts. A copy of the survey instrument is included in the appendix.'

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