Casper housing prices on the move

Higher rent, same wages

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As Casper grows, so does the need for housing.

Since not all new jobs come with high wages, a Casper housing expert said it's even more important to have affordable housing.

Robin Mundell, Casper's housing and community development manager, said the cost of housing is increasing, but wages aren't, and as a result Casper is going to continue seeing a worker crunch.

In the face of an apparent housing shortage, three of Casper's largest apartment buildings may soon have higher rents. This will force some of the tenants who can't afford the increase to find another place to live.

Randy Hall, a broker for BrokerOne Real Estate, said this type of increase was a foregone conclusion.

The buildings were purchased during the last bust at a very low price, which allowed the owners to charge less than market-rate rent for many years.

Average apartment rents in Natrona County in December 2007, were $542 per month for a two-bedroom apartment, said Cheryl Gillum, the deputy director of the Wyoming Community Development Authority.

But, Hall said it may take a rent of $800 per month to justify new apartment construction. The low rental rate in Casper forced possible developers in the past to question whether it was financially responsible to build.

For some of the tenants of Mountain View Apartments, Sunridge Apartments and the Casper Village, the new rates - as much as a 59 percent increase - may be prohibitive.

"The problem is, I don't know where they are going to go," Hall said. "We have such a shortage of affordable housing here in town. But this was something that was going to happen sooner rather than later."

Kay Griffith, a worried resident in the Mountain View Apartments, said she wonders if it's possible for the city to put a cap on rent in Casper. She moved here two years ago from Fresno, Calif., where she was paying $750 a month. She now may have to pay $700 in Casper.

"I didn't move from California to Wyoming for it to get worse," she said. "I moved to get better."

Local developer Rich Fairservis said governments can only use rent controls with federally-funded apartments, not private developments.

Mundell said a potential problem with the increases is that some of the tenants in the three apartment complexes have government housing assistance with Section 8 vouchers.

In order to use the vouchers the rent must be below the Housing and Urban Development's definition of "fair market rent," and if it's not, Mundell said, the holder must find another location.

The housing problem in Casper is not going to improve until more apartment buildings are built and rents are reasonable, she said. If rents continue to rise, and wages don't, service industry employees are the most likely to leave for more affordable places to live.

For everyone else, that could mean longer lines at the grocery store and longer waits at restaurants, Mundell said.

Contact city reporter Christine Robinson at (307) 266-0639 or christine.robinson@trib.com

Natrona County monthly apartment rent

* Second quarter 2007: $542

* Second quarter 2006: $508

* Second quarter 2005: $441

* Second quarter 2004: $418

* Second quarter 2003: $395

* Second quarter 2002: $395

* Second quarter 2001: $369

* Second quarter 2000: $360

According to the Wyoming Housing Database Partnership

Natrona County apartment vacancy rate

* Second half of 2007: 1.07 percent

* Second half of 2006: 1.67 percent

* Second half of 2005: 1.97 percent

* Second half of 2004: 2.82 percent

* Second half of 2003: 3.41 percent

* Second half of 2002: 4.49 percent

* Second half of 2001: 1.89 percent

According to the Wyoming Housing Database Partnership

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