Out of Reach

Out of Reach:

Rental Housing At What Cost?

October, 1998

Colorado

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State and Metro Area Data

									Income Needed to Afford FMR						% Renters unable to afford FMR		Hourly Wage Needed to Afford		Percent of Federal Minimum Wage (@$5.15)		Work Hours/week Necessary at Minimum Wage
		FAIR MARKET RENTS BY NUMBER OF BEDROOMS							Amount		Percent of AMI		% of Renter median
	1990 RENTER HOUSEHOLDS	Zero	One	Two	Three	Four	1998 Area Median Income (HUD)	1998 Estimated Renter Median Income	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom
Colorado	418,906	$ 412	$ 479	$ 629	$ 872	$ 1,030	$ 52,617	$ 33,679	$ 19,153	$ 25,160	36%	48%	57%	75%	31%	39%	$ 9.21	$ 12.10	179%	235%	72	94	Colorado
METRO AREA																							METRO AREA
Boulder-Longmont, CO	34,375	$ 478	$ 573	$ 734	$ 1,023	$ 1,206	$ 63,100	$ 37,500	$ 22,920	$ 29,360	36%	47%	61%	78%	32%	41%	$ 11.02	$ 14.12	214%	274%	86	110	Boulder-Longmont, CO
Colorado Springs, CO	62,658	$ 424	$ 455	$ 607	$ 845	$ 998	$ 45,800	$ 29,900	$ 18,200	$ 24,280	40%	53%	61%	81%	32%	41%	$ 8.75	$ 11.67	170%	227%	68	91	Colorado Springs, CO
Denver, CO	249,441	$ 401	$ 478	$ 637	$ 884	$ 1,043	$ 55,700	$ 36,167	$ 19,120	$ 25,480	34%	46%	53%	70%	28%	37%	$ 9.19	$ 12.25	178%	238%	71	95	Denver, CO
Fort Collins-Loveland, CO	26,175	$ 419	$ 517	$ 639	$ 887	$ 1,048	$ 50,900	$ 30,400	$ 20,680	$ 25,560	41%	50%	68%	84%	35%	43%	$ 9.94	$ 12.29	193%	239%	77	95	Fort Collins-Loveland, CO
Grand Junction, CO	12,716	$ 386	$ 400	$ 501	$ 675	$ 803	$ 37,900	$ 25,200	$ 16,000	$ 20,040	42%	53%	63%	80%	33%	41%	$ 7.69	$ 9.63	149%	187%	60	75	Grand Junction, CO
Greeley, CO	18,430	$ 401	$ 443	$ 558	$ 774	$ 916	$ 41,300	$ 25,900	$ 17,720	$ 22,320	43%	54%	68%	86%	37%	44%	$ 8.52	$ 10.73	165%	208%	66	83	Greeley, CO
Pueblo, CO	15,111	$ 406	$ 421	$ 526	$ 708	$ 844	$ 35,300	$ 21,900	$ 16,800	$ 21,000	48%	59%	77%	96%	40%	49%	$ 8.08	$ 10.10	157%	196%	63	78	Pueblo, CO

County Data

					Income Needed to Afford FMR						Estimated % Renters unable to afford FMR
					Amount		Percent of AMI		Estimated % of Renter median
County	Metro Area	Renter Households, 1990	1998 Area Median Income (HUD)	1998 Estimated Renter Median Income	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	One Bedroom	Two Bedroom	County
Adams County	Denver, CO	33,224	$ 55,700	$ 36,000	$ 19,120	$ 25,480	34%	46%	53%	71%	28%	37%	Adams County
Arapahoe County	Denver, CO	56,240	$ 55,700	$ 33,800	$ 19,120	$ 25,480	34%	46%	57%	75%	30%	39%	Arapahoe County
Boulder County	Boulder-Longmont,	34,375	$ 63,100	$ 37,500	$ 22,920	$ 29,360	36%	47%	61%	78%	32%	41%	Boulder County
Denver County	Denver, CO	107,174	$ 55,700	$ 39,200	$ 19,120	$ 25,480	34%	46%	49%	65%	26%	34%	Denver County
Douglas County	Denver, CO	3,088	$ 55,700	$ 31,600	$ 19,120	$ 25,480	34%	46%	61%	81%	32%	41%	Douglas County
El Paso County	Colorado Springs,	62,658	$ 45,800	$ 29,900	$ 18,200	$ 24,280	40%	53%	61%	81%	32%	41%	El Paso County
Jefferson County	Denver, CO	49,715	$ 55,700	$ 32,700	$ 19,120	$ 25,480	34%	46%	58%	78%	31%	41%	Jefferson County
Larimer County	Fort Collins-Lovel	26,175	$ 50,900	$ 30,400	$ 20,680	$ 25,560	41%	50%	68%	84%	35%	43%	Larimer County
Mesa County	Grand Junction, CO	12,716	$ 37,900	$ 25,200	$ 16,000	$ 20,040	42%	53%	63%	80%	33%	41%	Mesa County
Pueblo County	Pueblo, CO	15,111	$ 35,300	$ 21,900	$ 16,840	$ 21,040	48%	60%	77%	96%	40%	49%	Pueblo County
Weld County	Greeley, CO	18,430	$ 41,300	$ 25,900	$ 17,720	$ 22,320	43%	54%	68%	86%	37%	44%	Weld County

Click here to download a (Microsoft Excel 97) spreadsheet of these tables.

NOTES:

FMR = Fair Market Rent
AMI = Area Median Income, determined by HUD
HUD = Department of Housing and Urban Development
EST RTR MEDIAN = 1998 Estimated Renter Median Income, based on 1990 renter median income as percent of household median income
Income Needed to Afford = Affordability is based on the official 30%-of-income standard used in federal housing subsidy programs.
% Unable to Afford = percent ofrenter population whomust pay more than 30% of income for rent.
Wage calculations are based on a 40 hour week for 52 weeks per year.
The federal minimum wage is $5.15/hour.
Rows are shaded for navigational purposes only.

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