Santa Fe getting 5,000 new dwellings, but is it enough? [View all]

It’s the typical Santa Fe story: A family preparing to move to the City Different searches for a home, only to find housing options sorely lacking or too far out of their price range.

For more than two decades, Santa Fe has experienced one of the tightest housing markets in the country, with a rental vacancy rate close to zero and an inflated homebuying market out of reach for midlevel buyers.

The issue is particularly concerning for renters.

According to the Santa Fe Association of Realtors’ 2020 housing report, there is a shortage of about 7,343 rental units in the Santa Fe area, with an average rental cost of about $1,000.

Read more: https://www.santafenewmexican.com/news/local_news/santa-fe-getting-5-000-new-dwellings-but-is-it-enough/article_9fdea124-b1db-11eb-af92-fba6306e1c3d.html