Affordable Housing In Basalt
Eagle County, Colorado

1 Low Income Apartment Communities In Basalt

Roaring Fork Apartments

111 Emma Road
Basalt, Colorado
$579-2,226
1-2 BR
Market Rate
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Section 8 Vouchers, Apartments, and Waiting Lists in Basalt, 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.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Basalt, Colorado

Housing Authority Programs
Garfield County Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Basalt, Colorado

There are 1 low income housing apartment communities offering 56 affordable apartments for rent in Basalt, Colorado.

Income Based Apartments in Basalt, Colorado

Basalt 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 Basalt, Colorado

There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Basalt.

Housing Choice Vouchers in Basalt, Colorado

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Basalt, Colorado for a two-bedroom apartment is between $1,750 and $2,138.

2022 Basalt, Colorado Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Basalt, Colorado Fair Market Rent $1,292 $1,477 $1,944 $2,403 $2,636
Basalt, Colorado Payment Standard Range $1,163 to $1,421 $1,329 to $1,625 $1,750 to $2,138 $2,163 to $2,643 $2,372 to $2,900

Sourced from federal housing data and AffordableHousingOnline.com research.

Basalt, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 56
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 27.97%
Average Renter Household Size 2.59
Average Household Size 2.24
Median Household Income $69,583 ±$10,932
Median Rent $1,792 ±$264
Percentage Of Renters Overburdened 42.49% ± 18.9pp
Total Population 3,791

Population and Household Demographics

Basalt is a city in Eagle County, Colorado with a population of 3,791. There are 1,691 households in the city with an average household size of 2.24 persons. 27.97% of households in Basalt are renters.

Income and Rent Overburden in Basalt

The median gross income for households in Basalt is $69,583 a year, or $5,799 a month. The median rent for the city is $1,792 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Basalt, a household making less than $5,973 a month would be considered overburdened when renting an apartment at or above the median rent. 42.49% of households who rent are overburdened in Basalt.

Area Median Income In Basalt

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Basalt, the AMI is calculated from all households within Eagle County.

In Basalt, HUD calculates the Area Median Income for a family of four as $98,300

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Basalt

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Basalt

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Basalt AMI may qualify for rental assistance programs that target Extremely Low Income households.
$21,000 $24,000 $27,000 $30,000 $32,400 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Basalt AMI may qualify for rental assistance programs that target Very Low Income households.
$35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000
80% AMI Income Limits
Renters earning up to 80% of the Basalt AMI may qualify for rental assistance programs that target Low Income households.
$56,000 $64,000 $72,000 $80,000 $86,400 $92,800 $99,200 $105,600