Colorado has a shortage of affordable rental housing, with nearly twice as many low-income families as the number of units available, a state analysis shows.
And the places where the burden on families is highest — where low-cost housing is least available — are Boulder and the Fort Collins-Loveland area, according to the Division of Housing at the Colorado Department of Local Affairs.
Statewide, families earning less than $15,000 a year had the largest gap with 2.1 households for every unit available, and there were 1.9 households earning less than $20,000 for every unit, the analysis found.
Rent-burdened households are those that pay 30 percent or more of income toward housing. The study found that 47 percent of all renter households paid at least 30 percent of their income for housing; 24 percent of all renters required at least 50 percent of their income to meet housing costs.
Boulder had the highest percentage of renters — 32 percent — paying at least half their income for housing, and 48 percent, also highest, paying at least 35 percent of their income.
The areas with the smallest rent burdens were in Grand Junction and Colorado Springs.
In metro Denver, there were 2.3 households for every unit of affordable rental housing for families making less than $20,000 per year.
From: Denver Post