1,092
Built (Existing)
Single-Family Homes

This represents all deeded free-market single-family zoned homes.

287
Built Multi-Unit Homes

This includes all multi-family parcels with a main house and at least one accessory unit. The total does not include the 257 accessory units.

87
Built Multi-Family Parcels

This includes all multi-family parcels with a minimum of two units (duplexes, triplexes, etc.) with no main house. This represents a total of 363 units. It does not include apartment parcels.

1,446
Built Townhome/Condos

This represents all deeded free-market townhome/condos in the TOJ, including a small segment (106 units) being rented through commercial operations.

28
Built Apartment Parcels

There are 705 actual apartment units on these parcels

141
Single-Family Vacant Lots

This represents only single-family zoned lots, of which 81 are .34 acres or larger, opening up the possibility for lot splits.

33
Commercial Vacant Lots

This represents commercial zoned vacant lots.

638
Commercial Developed

This represents commercial zoned deeded parcels and condos. There are 120 residential accessory units attached to these developed commercial properties.

32
Common Parcels

23 common lots + 9 Public (open space, school, etc. – cannot be developed)

5
Conservation Easement Parcels

No development

Town of Jackson Existing Residential Units 3,789

1,379 deeded homes
+ 1,446 deeded condo/townhomes
+ 257 accessory units (homes)
+ 363 units (multi-family parcels)
+ 120 accessory units (commercial)
+705 apartments
+ 141 trailers
+ 237 deed restricted ownership units (homes and condos)

Total existing residential units in the TOJ: 4,648

Total Potential Town of
Jackson residential units:

5,093
(existing residential units)
+ 445
(projected additional units)

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
* Although some homes are not yet reflected in the Teton County GIS, this number includes homes issued building permits through Q3 2016.
* This report includes most, but not all, residential housing units. Based on the 2014 Regional Housing Needs Assessment, there are approximately 446 additional housing units not considered in this report, which include retirement and assisted living developments, federal employee housing, and several units in commercial zone

Town of Jackson Projected Future Development
Single-Family Homes
141

This is based on the existing residential vacant lots; 81 of these parcels are .34 acres or larger, opening up the possibility for additional lot splits. Some lots are combined for tax purposes like the Gill Addition and some multiple AR lots like on Hansen and Redmond.

NC-2 Homes
15

This represents vacant NC-2 lots, and/or partially built parcels that can still build another home.

Condo / Townhouses
223

This estimate considers contiguous multi-family zoned parcels (AR, UR, NC-2) that would allow development through a PRD on a minimum .52 acres; the total includes both contiguous vacant lots and homes that are 50+ years old. To calculate this net-effect estimate, we subtracted the number of existing homes and accessory units that would be lost; 50 homes and 21 accessory units would be scrapped. The estimate does not take into account un-built additional accessory units on existing AR/UR developed lots.

In our calculation, we also assumed that the same number of trailers (141) would be replaced by condos/townhomes. NOTE: Even though the net effect of this trailer-to-condo conversion is flat, the reality would result in displacement of service workers who cannot afford the average purchase price of a condo/townhouse ($789,012 in 2016 for a 3-bedroom unit).

The odds are good that more than half of these parcels will not be developed or re-developed as many 50+ year-old homes are not being scrapped; instead, buyers are remodeling and/or adding additional square footage.  Why? Some properties have grandfathered zoning that would go away if redeveloped; some homes are in really good shape; other buyers are discouraged by the cost to tear -down and redevelop (deemed cost prohibitive based on the value of the land or budget).

Existing Old Motels within Residential Zones
(condo / townhouses)
66

This represents four old motels that are surrounded by multi-family or single-family homes.  The projected units are based on existing PRD allowed densities, but there is the potential for granting these properties higher density. While not included in the projection, several sites offer significant potential for local and/or affordable housing, such as: the Sagebrush Motel on West Broadway; the old motel on East Broadway that St. John’s Medical Center owns; and the 10-acre U.S. Forest Service site that recently sold on North Cache.  The TOJ planners are currently considering on the 10-acre USFS site.

Total Projected Additional Residential Units: 445+ approx.

(does not include deed restricted) 

156 deeded homes + 289  (223 + 66) deeded condo/townhomes = 445 total projected additional residential units in the TOJ

Current Cost of New Construction + Current Property Prices

The average TOJ building permit valuation for a single-family home in 2016 was $881,235.  The TOJ valuation value only considers construction cost, not the combined worth of the property and house.  In 2015, the average TOJ home sale price in 2016 was $1,032,156.  NOTE:  For homes built in the last five years, the average sale price was significantly higher at  $1,777,000.

At year-end, the average TOJ home listing price was $1,786,687  The least expensive home in the TOJ (at year-end) was a 2-bedroom, 1-bath, 1,016 sq. ft. home built in 1988, listed for $565,000.

Last year, the average sale price for a TOJ single-family vacant lot was $577,700. The average size single-family lot sold in 2016 was .29 acres.

When you combine the average building permit value with the average sale price of a vacant single-family lot, you will be spending an average of $1,458,935 to build a new home, which does not factor in the lag time of planning and building headaches that accompany building projects in the TOJ.

The outlook for locals buying into the condo/townhouse market is similarly bleak.  At years-end, the average 2016 listing price for a TOJ 3+ bedroom condo/townhouse is $693,857 (all at least 22 years old).  The average 2016 sale price for a TOJ 3+ bedroom condo/townhouse was $773,822.  NOTE: The average sale price for a condo/townhouse built in the last five years was $1,341,360.

* All statistics are supplied by sources that have been deemed reliable but are not guaranteed.
* Does not include deed restricted affordable housing, fractional ownership, or Government leases.
* Although some homes are not yet reflected in the Teton County GIS, this number includes homes issued building permits through Q3 2016.
* This report includes most, but not all, residential housing units. Based on the 2014 Regional Housing Needs Assessment, there are approximately 446 additional housing units not considered in this report, which include retirement and assisted living developments, federal employee housing, and several units in commercial zone