The Payson Town Council meeting on January 22, 2025, focused on a housing demand study that outlined the need for new homes in the area over the next five years. The study, presented by a housing consultant, indicated that Payson will require approximately 395 homes for sale and 107 for rent to meet projected growth based on census data and economic forecasts.

The consultant detailed the analysis process, which included assessing the number of new households expected in various income brackets, the types of housing desired, and current market conditions. The findings revealed a significant demand for affordable housing, particularly for middle-income workers, with a specific need for homes priced between $250,000 and $325,000. Currently, there are very few homes available in this price range, highlighting a gap in the market.

Council members expressed interest in how this data could assist in discussions with developers and in planning for future infrastructure needs. The consultant emphasized that the study is designed to be updated annually, allowing the town to adapt to changing market conditions, such as fluctuations in interest rates.

Additionally, the council discussed the importance of this data for economic development efforts, particularly in attracting retailers to the area. The housing demand study is seen as a valuable tool for both current and future planning, ensuring that the town can accommodate its growing population effectively.

In conclusion, the meeting underscored the critical need for targeted housing development in Payson to support its economic growth and meet the needs of its residents. The council plans to further analyze the study's findings and consider how to align future housing projects with the identified demand.