SALT LAKE CITY — Like many cities across the state, Farmington is facing a housing crunch primarily led by rapidly increasing home prices that have pushed homeownership out of reach for many residents.
Newly constructed homes are consistently valued at $1 million or more, according to David Petersen, the city’s community development director, who said existing freestanding homes in the city can top $750,000 and for-sale townhomes are often listed at half a million dollars.
Despite the average household income for Farmington being about $130,000 annually, those home prices exceed what most residents are able to afford.
“So, housing affordability in Farmington is not good,” Petersen told the Utah Legislature’s Economic Development and Workforce Services Interim Committee on Wednesday morning.
Petersen was one of several municipal officials to present to the committee on one of the oft-proposed solutions to the housing crisis: accessory dwelling units. Also commonly referred to as …