Own a home in Ketchum or Sun Valley?

You could earn up to $24,000 by converting your property into a new long-term rental for our local workforce.

What is Lease to Locals?

Results to Date*

New units unlocked
0
People housed
0
*Data as of June 1, 2024

How the Program Works

1

Verify property qualifies

The property must be located in North Wood River Valley in Sun Valley City Limits or Ketchum’s Area of City Impact, and NOW ALSO includes the area directly North of Ketchum’s ACI and South of Ketchum’s ACI to the border of Hailey’s ACI. (see map here). The property must not already be a long-term rental. This is defined as having had full-time tenants in the past 12 months, even if they were on a month-to-month lease.

2

Find qualifying tenants

All tenants must complete an employment verification form and work at least 30 hours per week for an employer based in the Blaine County. The rental is subject to a rent cap and the property can not be rented to immediate family members.

3

Sign a Lease

Property Owners must sign either a seasonal (5+ months) or long-term (12+ months) lease with a Qualified Household. See below for the grant amounts for property owners.

4

Complete full application

Placemate will provide property owners a full application which needs to be completed before the incentive can be dispersed. The funds will be paid in two equal installments — one at the beginning of the lease, and one at the end of the lease (within 60 days of each).

5

Compliance

The applicant must comply with midway and final lease checks to ensure they are in compliance. If they are found out of compliance, they may be disqualified from receiving additional incentive payments. Full program policies can be found here

Incentive Amounts For Homeowners

1 Qualified Tenant 2 Qualified Tenants 3 Qualified Tenants 4 Qualified Tenants
Seasonal (5+ months)
$2,500.00
$5,000.00
$7,500.00
$10,000.00
Long Term (12+ months)
$6,000.00
$12,000.00
$18,000.00
$24,000.00

Frequently Asked Questions

Location: The Housing Unit must be located within the North Wood River Valley defined as the city limits of Ketchum, Sun Valley, and Ketchum’s Area of City Impact . There are some exclusions including: Ketchum Light Industrial District and (from November 15th to April 15th) any avalanche zone.
Status: The Housing Unit must be a legally permitted dwelling unit and each bedroom in the property must have a door and window.
New Rental: The Housing Unit must have not already been leased as an existing long-term rental (unless through this Program) in the past 12 months.
Eligible Properties: The Housing Unit must be single-family homes, multi-family property, townhome, condo, or vacant room(s) in owner-occupied properties.
Property Condition: The Housing Unit must meet basic health and safety criteria as may be required per Idaho law and regulations.

 

Qualified Household: A qualified household must be made up of at least 50% Qualified Tenants and the household must not average more than $82,250 in annual income. Dependent children will count as one (1) additional Qualified Tenant for income calculations.

Qualified Tenant: A qualified tenant must be employed at least 30 hours per week at an employment site within Blaine County. Additional definitions of a qualified tenant include caretakers, children, or those who are disabled and can not work due to their disability. Dependent children will count as one (1) additional Qualified Tenant.

A Qualified Tenant is an adult employed at least 30 hours per week at an employment site within the Blaine County, who is not of blood relation to the Property Owner. Additional definitions of a qualified tenant include caretakers, children, or those who are disabled and can not work due to their disability.  Full details can be found in the program guidelines.

Yes, there is a rental cap (by unit size) that the Property Owner can charger per Housing Unit as follows:

  • Studio or 1 bedroom $1,500/month
  • 2 bedrooms $2,400/month 
  • 3 bedrooms $3,000/month
  • 4 bedrooms $4,000/month

First create a renter profile with Placemate. When we have an interested property owner reach out to us and their property matches what you are looking for in your profile, we will contact you directly. 

Not all owners are choosing to list their properties on Placemate so you will likely find Lease to Locals properties posted on the Idaho Mountain Express, Wood River Buy Sell Trade, or Wood River Rentals.

 

Payments will be sent from the City of Ketchum, who is administering the program. Incentive payments are considered taxable income and property owners are required to complete an application and w9. Once the application is submitted to the City of Ketchum they are processed within 60 days.

Tell us more about your property in the North Wood River Valley

Please only fill out this form if you are a property owner. If you are a tenant seeking housing, please visit our Renter Page.

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