Ski town can't fill 6-figure job because candidates can't afford housing

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Home inventory beneath pre-pandemic levels

Home inventory remains beneath pre-pandemic levels 04:08

Steamboat Springs, Colorado, has a problem that's prevalent among each edifice communities wherever lodging costs acold transcend section incomes: recruiting staff. That's because occupation candidates opportunity they can't spend to unrecorded there. 

While home prices and rents person soared crossed nan state complete nan past year, rent and existent property prices successful uber-wealthy enclaves are successful a convention of their own. The median listing value for homes presently disposable successful Steamboat Springs, for example, is $2 million, according to Realtor.com. Median rent is astir $4,000 a period according to Zillow.com. The precocious prices put area lodging retired of reach, moreover for those earning above-average salaries. 

Steamboat Springs metropolis head Gary Suiter told CBS MoneyWatch that nan metropolis authorities has struggled to enlistee a quality resources director, a management-level position pinch a six-figure net to match, NBC first reported. 

"That's nan lawsuit for 1 position. In these higher-end edifice communities, location are aggregate positions astatine each layers of nan statement that tin beryllium difficult to fill," Suiter added. 

The city, pinch a organization of 13,000, antecedently made occupation offers to 2 candidates, some of whom declined. 

"We had 2 recruitments antecedently and successful some cases they couldn't spend to unrecorded here," Suiter said. The position's salary? $167,000 per year.

Other section occupation openings salary acold less, including a posting for a rodeo attraction worker, which pays up to $29.62 an hour. 

Millennials struggling to spend homes successful cities 05:58

Signing bonuses 

Suiter said he's each excessively acquainted pinch nan rising lodging costs successful communities for illustration Steamboat Springs and really challenging they make it for section businesses to unit up. Wealthy individuals ammunition retired millions for 2nd homes successful specified areas and thrust up lodging costs, a inclination that was exacerbated by nan pandemic.

The peculiar trouble nan metropolis has had filling nan HR head domiciled "tells nan communicative of what's happening successful edifice communities, and it's been happening for a agelong time," he explained. "The aforesaid point is repeating itself successful higher-end areas."

Home prices successful nan country's 20 biggest metro areas went up an mean of 6.7% successful 2023, according to nan latest S&P CoreLogic Case-Shiller data. Across nan federation arsenic a whole, lodging prices roseate much than 5% complete nan past year, pushing location ownership retired of scope even for high-income earners. 

To make nan six-figure connection much palatable, Suiter said nan metropolis has added a signing prize that — for nan correct campaigner — is negotiable. 

"We will supply a signing prize wrong reason, if it's basal to enlistee nan astir qualified person," he said. 

Dormitory-style housing

It is harder to location members of nan city's astir 300-person authorities staff, galore of whom gain acold little than six figures annually, Suiter said. The metropolis is successful nan process of building dormitory-style lodging to accommodate immoderate of them. 

Housing challenges "permeate each level of nan organization," Suiter said. "It's not only pinch guidance positions, it's boots-on-the-ground jobs. Bus drivers person been difficult to recruit, particularly during nan pandemic pinch nan disguise mandate."

The town's world-class skis edifice provides up to 800 beds for unit "at beneath marketplace rate," according to a edifice spokesperson.

Megan Cerullo

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Megan Cerullo is simply a New York-based newsman for CBS MoneyWatch covering mini business, workplace, wellness care, user spending and individual finance topics. She regularly appears connected CBS News Streaming to talk her reporting.