Builders Patch | HousingCount: Colorado affordable housing data and latest news
Colorado
Summary
Colorado state is facing an acute affordable housing crisis. For every 100 low-income renter households, there are 49 units available that are affordable to them. The median rent in the state has risen by 79% since 2010, while median household incomes have grown by 64%. Currently, the state is short over 92,528 low-income housing units, meaning rental units that are affordable to households earning ≤60% of AMI.
33.9% share of renter households
39.9% share of low-income households
49.0% share of rent-burdened households
Renter population data
| Households |
% share |
| Renter households |
754,483 |
| Homeowner households |
1,473,449 |
| Total households |
2,227,932 |
| Low-income renter households |
|
Renter households by income group
| Households |
% share |
| Extremely low-income (≤30% AMI) |
104,449 |
| Very low-income (31-50% AMI) |
78,687 |
| Low-income (51-80% AMI) |
118,093 |
| All low-income households (<80% AMI) |
301,229 |
Rent-burdened households
| Share of income spent on rent |
Households |
% share |
| Moderately rent-burdened |
192,259 |
25.5% |
| 30.0–34.9% |
71,918 |
9.5% |
| 35.0–39.9% |
50,384 |
6.7% |
| 40.0-49.9% |
69,957 |
9.3% |
| Severely rent-burdened |
177,627 |
23.5% |
| ≥50.0% |
177,627 |
23.5% |
| All rent-burdened households |
369,886 |
49.0% |
Affordable housing shortage
| Median household income |
Amount ($) |
| in 2010 |
32,321 |
| in 2021 |
53,087 |
| Increase (2010–2021) |
64.2% |
| Median rent |
Amount ($) |
| in 2010 |
742 |
| in 2021 |
1,325 |
| Increase (2010–2021) |
78.6% |
| Supply, demand & shortage |
Units |
| Supply (current stock) |
90,608 |
| Demand (total units needed) |
183,136 |
| Shortage |
92,528 |
| Total shortage |
92,528 |
| Supply/demand ratio |
49.5% |
Finance institutions
Colorado Housing and Finance Authority
1981 Blake Street, Denver, CO 80202-1229
QAP document (Qualified Allocation Plan)
The QAP is a document that states, and a few local agencies, must develop in order to distribute federal Low Income Housing Tax Credits (LIHTCs), which can be awarded only to a building that fits the QAP’s priorities and criteria. Each QAP must spell out a housing finance agency’s (HFA’s) priorities and specify the criteria it will use to select projects competing for tax credits. The priorities must be appropriate to local conditions.
Shortage statistics for ELI & VLI renters
| Rental population |
ELI & VLI (<50% AMI) |
Rent-burdened |
Affordable housing |
| Name |
Households |
% share |
Households |
| ------------------ |
---------------------- |
---------------- |
------------------- |
| Adams County |
56,704 |
32.1% |
16,258 |
| Alamosa County |
2,827 |
44.7% |
860 |
| Arapahoe County |
86,879 |
35.1% |
22,579 |
| Archuleta County |
1,626 |
28.2% |
515 |
| Baca County |
440 |
27.6% |
106 |
...
(continued for other counties)