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Affordable Housing In Colorado Springs
El Paso County, Colorado

49 Low Income Apartment Communities In Colorado Springs

Green Valley Apartments

1960 S Chelton Rd
Colorado Springs, Colorado

Sandcreek Apartments

1940 S Chelton Rd
Colorado Springs, Colorado

Stetson Meadows Apartments

4495 Tutt Blvd
Colorado Springs, Colorado

Tamarac Senior Apartments

700 W Cheyenne Rd
Colorado Springs, Colorado

Lynmar Apartments

2750 Vickers Dr
Colorado Springs, Colorado

Village at Homewood Point

907 E Colorado Ave
Colorado Springs, Colorado

Greentree Village Apartments

3562 N Carefree Cir
Colorado Springs, Colorado

Constitution Square Apartments

7230 Constitution Square Hts
Colorado Springs, Colorado

Wyndam Place Senior Residences II

350 E Las Animas St
Colorado Springs, Colorado

Housing Authorities that serve Colorado Springs

Housing Authority Programs
Colorado Springs Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Colorado Springs, Colorado

There are 49 low income housing apartment communities offering 4,252 affordable apartments for rent in Colorado Springs, Colorado.

Income Based Apartments in Colorado Springs, Colorado

Colorado Springs features 1,627 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 Colorado Springs, Colorado

There are 2,625 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Colorado Springs.

Housing Choice Vouchers in Colorado Springs, Colorado

On average, Section 8 Housing Choice vouchers pay Colorado Springs landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Colorado Springs.

The maximum amount a voucher would pay on behalf of a low-income tenant in Colorado Springs, Colorado for a two-bedroom apartment is between $1,027 and $1,255.

2020 Colorado Springs, 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
Fair Market Rent $743 $897 $1,141 $1,646 $2,003
Payment Standard Range $669 to $817 $807 to $987 $1,027 to $1,255 $1,481 to $1,811 $1,803 to $2,203

Sourced from federal housing data and research.

Colorado Springs, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 49
Total Low Income Apartments 4,252
Total Housing Units with Rental Assistance 1,627
Percentage of Housing Units Occupied By Renters 42.01%
Average Renter Household Size 2.38
Average Household Size 2.50
Median Household Income $54,527 ±$802
Median Rent $922 ±$15
Percentage Of Renters Overburdened 49.3% ± 1.74pp
Total Population 442,040

Population and Household Demographics

Colorado Springs is a city in El Paso County, Colorado with a population of 442,040. There are 174,441 households in the city with an average household size of 2.50 persons. 42.01% of households in Colorado Springs are renters.

Income and Rent Overburden in Colorado Springs

The median gross income for households in Colorado Springs is $54,527 a year, or $4,544 a month. The median rent for the city is $922 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Colorado Springs, a household making less than $3,073 a month would be considered overburdened when renting an apartment at or above the median rent. 49.3% of households who rent are overburdened in Colorado Springs.

Area Median Income In Colorado Springs

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 Colorado Springs, the AMI is calculated from all households within El Paso County.

In Colorado Springs, HUD calculates the Area Median Income for a family of four as $81,600

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 Colorado Springs

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 Colorado Springs

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,150 $19,600 $22,050 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $28,600 $32,650 $36,750 $40,800 $44,100 $47,350 $50,600 $53,900
80% of Median $45,750 $52,250 $58,800 $65,300 $70,550 $75,750 $81,000 $86,200