Prescott Valley council adopts affordable housing plan to address rising housing costs

The Prescott Valley Town Council unanimously approved an affordable housing plan March 12 that the town says will prioritize preserving existing homes, expand employer-supported workforce housing, and encourage flexible zoning and incentives to boost rental and owner-occupied affordability.

"Last year we did a survey and attainable housing was ranked as a top priority," Neighborhood Services Director Tracy Lyra told the council. Lyra presented data showing 29% of households are cost-burdened and 41.5% of renters are cost-burdened; she said housing costs in 2025 consumed about 48% of household income in town. "Our recommendations focus on neighborhood preservation, employer support, affordable owner-occupied housing and affordable renting housing," Lyra said.

The plan lists four focus areas: neighborhood and housing preservation using tools such as home-repair partnerships and targeted infill incentives; employer-supported workforce housing that encourages partnerships and home-buyer assistance for local employers; policies to support affordable owner-occupied homes including preapproved plans and fee reductions tied to affordability; and measures to spur affordable rental housing through flexible multifamily zoning, density bonuses and reduced or deferred fees. Lyra emphasized the plan "does not mandate specific developments, does not commit the town to new spending without council approval, does not override zoning without public process, and does not eliminate private market solutions."

Council members praised the plan and directed staff to proceed with community engagement, including listening sessions, pop-up booths and partnership outreach. The council approved the plan by electronic vote. The plan sets a framework for future actions but any funding or ordinance changes would require separate council approvals and public hearings.