What HUD offices serve Cortez, 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.
Go to the Colorado Public Housing and Low-Income Apartments Waiting Lists page for openings near Cortez.
How many renters live in Cortez, Colorado?
The City of Cortez has 8,832 people living in 3,528 households.
There are 2,995 renters living in 1,264 renter households in this City. Renters make up 33.91 percent of the population living in Cortez.
What is the rental market like in Cortez, Colorado?
There are an estimated 4,104 housing units in the Cortez area. Of these, 1,413 units are rental homes, making up 34 percent of the housing market. For every renter household in Cortez, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in Cortez?
The rental vacancy rate in Cortez is 11 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 Cortez for each bedroom size?
Occupied Rental Units by Size in Cortez
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 40 | 221 | 528 | 464 | 11 |
Occupied Rental Units by Size in Cortez
A large number of apartments in Cortez 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 Cortez are overburdened by housing costs?
Among renter households in this market, 51 percent have housing cost burden. Further, 12 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 Cortez
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $910 to $2,043. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $910 |
| One BR | $966 |
| Two BR | $1,269 |
| Three BR | $1,534 |
| Four BR | $2,043 |
2024 Fair Market Rents in Cortez, Colorado
How many units are rented at Fair Market Rent (FMR) in Cortez?
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 | 26 | 65 percent |
| One BR | 204 | 92 percent |
| Two BR | 416 | 79 percent |
Rental Units Below FMR in Cortez, Colorado
How many affordable rental units are in Cortez?
There are a variety of federal affordable housing programs serving households in Cortez, Colorado including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 231 |
| Public Housing | 9 |
| Section 8 Project-Based Rental Assistance | 122 |
| USDA Section 515 Rural Rental Housing | 63 |
Tracked Units by Federal Program in Cortez, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cortez, Colorado
Cortez features 228 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 Cortez, Colorado
There are 108 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cortez.
Housing Choice Vouchers in Cortez, Colorado
On average, Section 8 Housing Choice vouchers pay Cortez landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Cortez.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cortez, Colorado for a two-bedroom apartment is between $1,142 and $1,396.
Sourced from federal housing data and AffordableHousingOnline.com research.
