Low Income Apartments and Affordable Housing For Rent in Gypsum, CO

Discover affordable housing in Gypsum where there are 3+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Spring Creek Village

750 Sunny Ave, Gypsum, Colorado 81637

Holy Cross Village

508 Sunny Avenue, Gypsum, Colorado 81637

Holy Cross Village

508 Sunny Ave, Gypsum, Colorado 0

calendar_today Opened: Oct 18
Open Until Further Notice

Reported On February 23rd, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Gypsum, Colorado
$43.92/hour
$29.50 (+205%) more than Colorado minimum wage and $36.67 (+506%) more than the Federal minimum wage.
Learn More About Gypsum, Colorado Affordable Housing ↓

What HUD offices serve Gypsum, Colorado?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Gypsum, Colorado.

Go to the Colorado Public Housing and Low-Income Apartments Waiting Lists page for openings near Gypsum.

How many renters live in Gypsum, Colorado?

The City of Gypsum has 8,291 people living in 2,351 households.

There are 2,321 renters living in 598 renter households in this City. Renters make up 27.99 percent of the population living in Gypsum.

What is the rental market like in Gypsum, Colorado?

There are an estimated 2,540 housing units in the Gypsum area. Of these, 728 units are rental homes, making up 29 percent of the housing market. For every renter household in Gypsum, Colorado, there are 1 rental units.

What is the vacancy rate for rentals in Gypsum?

The rental vacancy rate in Gypsum is 18 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Gypsum for each bedroom size?

Occupied Rental Units by Size in Gypsum
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
41 48 122 343 0
Occupied Rental Units by Size in Gypsum

A large number of apartments in Gypsum have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Gypsum are overburdened by housing costs?

Among renter households in this market, 46 percent have housing cost burden. Further, 9 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Gypsum

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,572 to $3,088. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,572
One BR $1,765
Two BR $2,319
Three BR $2,809
Four BR $3,088
2024 Fair Market Rents in Gypsum, Colorado

How many units are rented at Fair Market Rent (FMR) in Gypsum?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 41 100 percent
One BR 23 48 percent
Two BR 0 100 percent
Rental Units Below FMR in Gypsum, Colorado

How many affordable rental units are in Gypsum?

There are a variety of federal affordable housing programs serving households in Gypsum, Colorado including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 210
Tracked Units by Federal Program in Gypsum, Colorado

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Gypsum, Colorado

Gypsum features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Gypsum, Colorado

There are 271 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Gypsum.

Housing Choice Vouchers in Gypsum, Colorado

On average, Section 8 Housing Choice vouchers pay Gypsum landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Gypsum.

The maximum amount a voucher would pay on behalf of a low-income tenant in Gypsum, Colorado for a two-bedroom apartment is between $2,087 and $2,551.

Sourced from federal housing data and AffordableHousingOnline.com research.