Economic Momentum Meets a Housing Bottleneck in Grant County

Grant County’s latest economic analysis from the Harvard Growth Lab paints a picture of a community with strong legacy industries, emerging opportunities, and a critical housing challenge that now shapes its long‑term outlook.

The report notes that while the county’s population has been declining for two decades—now below 30,000—its income levels have grown faster than many peers. Economic activity remains anchored in mining and government, but newer sectors such as information services, professional and business services, and education‑related industries are showing meaningful momentum. As one section explains, “the mining sector has experienced above‑average growth… [and] professional and business services… have been leading growth,” highlighting a gradual broadening of the local economic base.

Housing, however, is emerging as the county’s most significant constraint. Prices have risen 30% since 2014, yet the housing stock has barely changed. Even more concerning, the vacancy rate has climbed to 25%, with most empty units “not available for rent or purchase,” leaving unclear why so much housing is effectively offline. This mismatch between demand and usable supply limits the county’s ability to attract and retain residents—an issue that directly affects workforce availability and future economic development.

Looking ahead, the report identifies more than 200 potential industries that align with the region’s existing capabilities, including high‑ and medium‑wage opportunities in manufacturing, services, natural resources, and select retail and wholesale sectors. Some, like “Colleges, Universities, and Professional Schools,” are already adding jobs locally even as they shrink elsewhere in the state. Others—such as media‑related information industries or food‑processing niches—could grow with the right infrastructure, workforce, and site readiness.

For REALTORS®, the takeaway is clear: housing availability is now a central economic development issue. As the report concludes, “the county’s economic growth is limited by its ability to attract and keep residents.” Efforts to bring more units online, address unclear vacancies, and expand housing options will directly support job growth, business attraction, and long‑term community vitality.

Full report here: Growth Lab at Harvard University - Identifying Local Opportunities for Grant County. Thank you to the SWNM Council of Governments for sharing.