Affordable Housing In Cokedale
Las Animas County,
Guide To Affordable Housing in Cokedale, Colorado
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Cokedale, Colorado.
Income Based Apartments in Cokedale, Colorado
Cokedale 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 Cokedale, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cokedale.
Housing Choice Vouchers in Cokedale, Colorado
On average, Section 8 Housing Choice vouchers pay Cokedale landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Cokedale.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cokedale, Colorado for a two-bedroom apartment is between $885 and $1,081.
2022 Cokedale, 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|
|Cokedale, Colorado Fair Market Rent||$653||$747||$983||$1,349||$1,484|
|Cokedale, Colorado Payment Standard Range||$588 to $718||$672 to $822||$885 to $1,081||$1,214 to $1,484||$1,336 to $1,632|
Sourced from federal housing data and AffordableHousingOnline.com research.
Cokedale, CO Affordable Housing Snapshot
|Total Affordable Apartment Properties||0|
|Total Low Income Apartments||0|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||40%|
|Average Renter Household Size||2.13|
|Average Household Size||2.33|
|Median Household Income||$57,857 ±$14,846|
|Median Rent||$1,083 ±$313|
|Percentage Of Renters Overburdened||54.17% ± 58.96pp|
Population and Household Demographics
Cokedale is a city in Las Animas County, Colorado with a population of 140. There are 60 households in the city with an average household size of 2.33 persons. 40% of households in Cokedale are renters.
Income and Rent Overburden in Cokedale
The median gross income for households in Cokedale is $57,857 a year, or $4,821 a month. The median rent for the city is $1,083 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cokedale, a household making less than $3,610 a month would be considered overburdened when renting an apartment at or above the median rent. 54.17% of households who rent are overburdened in Cokedale.
Area Median Income In Cokedale
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 Cokedale, the AMI is calculated from all households within Las Animas County.
In Cokedale, HUD calculates the Area Median Income for a family of four as $61,400
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 Cokedale
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 Cokedale
|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 Cokedale AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Cokedale AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Cokedale AMI may qualify for rental assistance programs that target Low Income households.