As we approach Election Day 2024, Utah lawmakers are rightly considering policy reforms to address housing affordability in Utah. According to Sutherland Institute’s voter priority poll from earlier this year, housing affordability is at the top of voters’ list of issues that will influence their vote this year.
As Utah policymakers consider reforms, one stands out for its promise — borne out by the evidence — to significantly address the costs of housing without requiring a dime in taxpayer subsidies: promoting light-touch density (LTD) housing.
A new study released by the American Enterprise Institute’s Housing Center confirms how a modest increase in density can ignite housing abundance and rein in surging home prices.
The Housing Center studied the 230,000+ single-family detached (SFD) homes that were constructed between 2000 and 2023 and found that the median home sat on one-quarter acre. If the median lot size were one-sixth of an acre instead, 145,000 additional homes for families would have been built. With slightly smaller lots and living areas, their price would be about 10% less, thereby improving affordability. The additional supply and price of these new homes would have reduced price pressures more broadly.