# 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 | 33.9%   |
| Homeowner households          | 1,473,449 | 66.1%   |
| Total households              | 2,227,932 | 100.0%  |
| Low-income renter households   |         |         |

### Renter households by income group

| Households                    | % share |
|-------------------------------|---------|
| Extremely low-income (≤30% AMI) | 104,449 | 13.8%   |
| Very low-income (31-50% AMI) | 78,687  | 10.4%   |
| Low-income (51-80% AMI)      | 118,093 | 15.7%   |
| All low-income households (<80% AMI) | 301,229 | 39.9%   |

### 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

| List of loan programs                                                 |
|----------------------------------------------------------------------|
| [Sizeable Multifamily Affordable Risk Share Tool (SMART)](https://www.chfainfo.com/rental-housing/multifamily-lending/smart-program) |
| [Small Multifamily Permanent Loan (SIMPLE)](https://www.chfainfo.com/rental-housing/multifamily-lending/simple-program) |
| [Construction and Permanent Affordable Bond Loan (CAPABLE)](https://www.chfainfo.com/rental-housing/multifamily-lending/capable-program) |
| [Partnership-to-Perm Affordable Bond Loan (PAIRABLE)](https://www.chfainfo.com/rental-housing/multifamily-lending/pairable-program) |
| [CHFA Housing Opportunity Fund (CHFA HOF)](https://www.chfainfo.com/rental-housing/multifamily-lending/chfa-hof-program) |
| [Capital Magnet Fund (CMF)](https://www.chfainfo.com/rental-housing/multifamily-lending/capital-magnet-fund-cmf) |

### 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         | % share        | Households         | % share        | Shortage of units | S&D ratio |
|------------------|----------------------|----------------|-------------------|----------------|------------------|-------------------|----|-----|
| Adams County     | 56,704               | 32.1%          | 16,258            | 28.7%          | 31,330           | 55.3%   | 9,760     | 33.6% |
| Alamosa County   | 2,827                | 44.7%          | 860              | 30.4%          | 1,209            | 42.8%   | -1,148    | 349.7% |
| Arapahoe County  | 86,879               | 35.1%          | 22,579           | 26.0%          | 45,843           | 52.8%   | 16,768    | 12.0% |
| Archuleta County | 1,626                | 28.2%          | 515              | 31.7%          | 802              | 49.3%   | -3,384    | 1255.6% |
| Baca County      | 440                  | 27.6%          | 106              | 24.1%          | 69               | 15.7%   | -28       | 203.5% |

...

(continued for other counties)