Water prices soar 1600 percent raising housing concerns

During a recent government meeting, officials discussed a dramatic increase in the price of water, highlighting its implications for affordable housing development. The price of an acre-foot of water surged from approximately $65,000 in 2017 to an estimated $110,700 in 2024, marking a staggering increase of around 1,600%.

This significant rise was attributed to changes in the methodology used to assess water pricing, which now reflects the market value of the entire water supply portfolio. A substantial portion of this portfolio is tied to the Colorado-Big Thompson (CBT) project, whose prices have also escalated. Officials noted that the increase in water prices is a critical factor to consider as the community grapples with the challenge of developing affordable housing.

The discussion underscored the urgent need for strategic planning in water resource management, particularly as rising costs could hinder housing initiatives. The meeting concluded with a call for further analysis to ensure that water pricing aligns with community needs and economic realities.