LEHI, Utah — Utah developers and construction companies are trying to balance the state’s need for affordable housing with market-driven demands for more amenities and luxury materials. That challenge was a central theme at the Utah Economic Summit, sponsored by Rimrock Construction.

Economists and industry leaders discussed how Utah’s housing market, construction trends and broader economic conditions are shaping the state’s future.

Phil Dean, chief economist and public finance senior research fellow at the Kem C. Gardner Policy Institute, said Utah needs to rethink its approach to affordability.“Utah hasn’t delivered what the market really needs,” Dean said. “What’s been built is high-end product. What we need are more entry-level, attainable homes — and that means rethinking our approach to affordability.”Dean noted that Utah’s economy remains one of the nation’s strongest, with steady job growth, rising wages and unemployment near 3.5%. But he called housing affordability the one of the state’s biggest long-term economic risks.

Scott Miner, CEO of Rimrock Construction, said the private sector is focused on finding solutions.

“Utah’s growth has been incredible, but it’s created real pressure as we balance affordability and what people actually want,” Miner said. “As builders, we’re committed to finding new ways to deliver quality housing that people can actually afford — even if that means rethinking materials, density and design standards.”Dallas Hakes, Mapleton Mayor and owner/operator of Lonestar Builders, said developers are still struggling with costs and regulations that make affordable construction difficult.

“Land, labor and city fees have all gone up, and construction costs haven’t come back down,” Hakes said.

Panelists agreed that creativity, flexibility and a willingness to build smaller, simpler units will be key to expanding the state’s affordable housing supply.

“We have to change the way we think about this,” Dean said. “We need more linoleum, Formica countertops, two bedroom one bath units, and it means more density to be able to make it more affordable.”

Tom Henriod, CEO of Rockworth Companies, added, “We’ve got to figure out ways to do it less expensively.”