Affordable Housing In Boulder County
Colorado
72 Low Income Apartment Communities In Boulder County
The Hearthstone
Kestrel
The Lodge at Hover Crossing
There are 72 low income housing apartment complexes which contain 4,646 affordable apartments for rent in Boulder County. Many of these rental apartments are income based housing with 1,170 apartments that set rent based on your income. In Boulder County, HUD housing programs support 668 rental assistance apartments through programs like Project-based Section 8. There are 3,462 other low income apartments that don't have rental assistance but are cheaper than market rate rents.
Housing Authorities that serve Boulder County
| Housing Authority | Programs |
|---|---|
| Boulder County Housing and Human Services | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Boulder Housing Partners | Section 8 Housing Choice Voucher (HCV); Public Housing; Moving to Work |
Other Housing Authorities located in Boulder County
| Housing Authority | Programs |
|---|---|
| Louisville Housing Authority | Public Housing |
| Longmont Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Center for People With Disabilities | Section 8 Housing Choice Voucher (HCV) |
Guide To Affordable Housing in Boulder County, Colorado
Boulder County, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 72 |
|---|---|
| Total Low Income Apartments | 4,646 |
| Total Rent Assisted Apartments | 1,170 |
| Percentage of Housing Units Occupied By Renters | 37.83% |
| Average Renter Household Size | 2.32 |
| Total Population | 310,032 |
| Housing Units | 122,516 |
| Average Household Size | 2.45 |
| Median Household Income | $70,961 ±$1,552 |
| Median Rent | $1,187 ±$19 |
| Percentage Of Renters Overburdened | 54.01% ± 2.14pp |
Population and Household Demographics
Boulder County is a County in Colorado with a population of 310,032. There are 122,516 households in the county with an average household size of 2.45 persons. 37.83% of households in Boulder County are renters.
Income and Rent Overburden in Boulder County
The median gross income for households in Boulder County is $70,961 a year, or $5,913 a month. The median rent for the county is $1,187 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Boulder County, a household making less than $3,957 a month would be considered overburdened when renting an apartment at or above the median rent. 54.01% of households who rent are overburdened in Boulder County.1
Area Median Income In Boulder County
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.
In Boulder County, HUD calculates the Area Median Income for a family of four as $113,600
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 Boulder County
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 Boulder County HUD Rental Assistance in Boulder County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% of Median | $23,900 | $27,300 | $30,700 | $34,100 | $36,850 | $39,600 | $42,300 | $45,050 |
| 50% of Median | $39,800 | $45,450 | $51,150 | $56,800 | $61,350 | $65,900 | $70,450 | $75,000 |
| 80% of Median | $52,850 | $60,400 | $67,950 | $75,500 | $81,550 | $87,600 | $93,650 | $99,700 |
Low Income Housing Tax Credits in Boulder County
The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.
From 1990 to 2012, 31 low income apartment communities containing 1,845 rental apartments have been constructed and made affordable to low income persons in Boulder County by the Low Income Housing Tax Credit Program.
If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.
Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.
Income Qualifications for Low Income Housing Tax Credit Apartments in Boulder County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 50% of Median | $39,800 | $45,450 | $51,150 | $56,800 | $61,350 | $65,900 | $70,450 | $75,000 |
| 60% of Median | $47,760 | $54,540 | $61,380 | $68,160 | $73,620 | $79,080 | $84,540 | $90,000 |
For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Boulder County is $61,380 a year, or $5,115 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $5,115 by 30% to get a maximum rent of $1,535 a month.
Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.
| % of AMI | Studio | 1 Bed | 2 Bed | 3 Bed | 4 Bed | 5 Bed |
|---|---|---|---|---|---|---|
| 50% | $995 | $1,066 | $1,279 | $1,477 | $1,648 | $1,818 |
| 60% | $1,194 | $1,279 | $1,535 | $1,772 | $1,977 | $2,182 |
Fair Market Rents in Boulder County
Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.
2019 Fair Market Rents
| Studio | One BR | Two BR | Three BR | Four BR |
|---|---|---|---|---|
| $1,130 | $1,242 | $1,516 | $2,126 | $2,384 |
Cities In Boulder County
Select A City to View its Apartment Communities and Waiting Lists.
| City | Listings | Served By |
|---|---|---|
| Longmont | 29 | The HUD funded Public Housing Agencies that serve Longmont are the Boulder County Housing and Human Services, Longmont Housing Authority and Boulder Housing Partners. |
| Boulder | 29 | The HUD funded Public Housing Agencies that serve Boulder are the Boulder Housing Partners and Boulder County Housing and Human Services. |
| Lyons | 2 | The HUD funded Public Housing Agencies that serve Lyons are the Boulder County Housing and Human Services and Boulder Housing Partners. |
| Louisville | 6 | The HUD funded Public Housing Agencies that serve Louisville are the Boulder County Housing and Human Services and Boulder Housing Partners. |
| Lafayette | 4 | The HUD funded Public Housing Agencies that serve Lafayette are the Boulder County Housing and Human Services and Boulder Housing Partners. |
| Glendale | 1 | The HUD funded Public Housing Agencies that serve Glendale are the Boulder County Housing and Human Services and Boulder Housing Partners. |
| Nederland | 1 | The HUD funded Public Housing Agencies that serve Nederland are the Boulder County Housing and Human Services and Boulder Housing Partners. |
| Allenspark | 0 | The HUD funded Public Housing Agency that serves Allenspark is the Boulder Housing Partners. |
| Altona | 0 | The HUD funded Public Housing Agency that serves Altona is the Boulder Housing Partners. |
| Bark Ranch | 0 | The HUD funded Public Housing Agency that serves Bark Ranch is the Boulder Housing Partners. |
| Bonanza Mountain Estates | 0 | The HUD funded Public Housing Agency that serves Bonanza Mountain Estates is the Boulder Housing Partners. |
| Coal Creek | 0 | The HUD funded Public Housing Agency that serves Coal Creek is the Boulder Housing Partners. |
| Crisman | 0 | The HUD funded Public Housing Agency that serves Crisman is the Boulder Housing Partners. |
| Eldora | 0 | The HUD funded Public Housing Agency that serves Eldora is the Boulder Housing Partners. |
| Eldorado Springs | 0 | The HUD funded Public Housing Agency that serves Eldorado Springs is the Boulder Housing Partners. |
| Erie | 0 | The HUD funded Public Housing Agency that serves Erie is the Boulder Housing Partners. |
| Gold Hill | 0 | The HUD funded Public Housing Agency that serves Gold Hill is the Boulder Housing Partners. |
| Gunbarrel | 0 | The HUD funded Public Housing Agency that serves Gunbarrel is the Boulder Housing Partners. |
| Hidden Lake | 0 | The HUD funded Public Housing Agency that serves Hidden Lake is the Boulder Housing Partners. |
| Jamestown | 0 | The HUD funded Public Housing Agency that serves Jamestown is the Boulder Housing Partners. |
| Lazy Acres | 0 | The HUD funded Public Housing Agency that serves Lazy Acres is the Boulder Housing Partners. |
| Leyner | 0 | The HUD funded Public Housing Agency that serves Leyner is the Boulder Housing Partners. |
| Mountain Meadows | 0 | The HUD funded Public Housing Agency that serves Mountain Meadows is the Boulder Housing Partners. |
| Niwot | 0 | The HUD funded Public Housing Agency that serves Niwot is the Boulder Housing Partners. |
| Paragon Estates | 0 | The HUD funded Public Housing Agency that serves Paragon Estates is the Boulder Housing Partners. |
| Pine Brook Hill | 0 | The HUD funded Public Housing Agency that serves Pine Brook Hill is the Boulder Housing Partners. |
| St. Ann Highlands | 0 | The HUD funded Public Housing Agency that serves St. Ann Highlands is the Boulder Housing Partners. |
| Seven Hills | 0 | The HUD funded Public Housing Agency that serves Seven Hills is the Boulder Housing Partners. |
| Sugarloaf | 0 | The HUD funded Public Housing Agency that serves Sugarloaf is the Boulder Housing Partners. |
| Sunshine | 0 | The HUD funded Public Housing Agency that serves Sunshine is the Boulder Housing Partners. |
| Superior | 0 | The HUD funded Public Housing Agency that serves Superior is the Boulder Housing Partners. |
| Tall Timber | 0 | The HUD funded Public Housing Agency that serves Tall Timber is the Boulder Housing Partners. |
| Valmont | 0 | The HUD funded Public Housing Agency that serves Valmont is the Boulder Housing Partners. |
| Ward | 0 | The HUD funded Public Housing Agency that serves Ward is the Boulder Housing Partners. |
