How many renters live in El Paso County, Colorado?
The County of El Paso County has 740,567 people living in 293,070 households.
There are 231,709 renters living in 104,248 renter households in this County. Renters make up 31.29 percent of the population living in El Paso County.
What is the rental market like in El Paso County, Colorado?
There are an estimated 304,249 housing units in the El Paso County area. Of these, 107,592 units are rental homes, making up 35 percent of the housing market. For every renter household in El Paso County, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in El Paso County?
The rental vacancy rate in El Paso County is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in El Paso County for each bedroom size?
Occupied Rental Units by Size in El Paso County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 5,308 | 22,627 | 38,622 | 22,379 | 10,814 |
Occupied Rental Units by Size in El Paso County
A large number of apartments in El Paso County 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 El Paso County are overburdened by housing costs?
Among renter households in this market, 52 percent have housing cost burden. Further, 25 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 El Paso County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,190 to $2,875. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,190 |
| One BR | $1,408 |
| Two BR | $1,734 |
| Three BR | $2,444 |
| Four BR | $2,875 |
2024 Fair Market Rents in El Paso County, Colorado
How many units are rented at Fair Market Rent (FMR) in El Paso County?
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 | 2,756 | 52 percent |
| One BR | 13,585 | 60 percent |
| Two BR | 18,494 | 48 percent |
Rental Units Below FMR in El Paso County, Colorado
How many affordable rental units are in El Paso County?
There are a variety of federal affordable housing programs serving households in El Paso County, Colorado including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 3,801 |
| Public Housing | 742 |
| Section 8 Project-Based Rental Assistance | 894 |
| Mod Rehab Project-Based Rental Assistance | 37 |
| Section 202 Supportive Housing for the Elderly | 150 |
| USDA Section 515 Rural Rental Housing | 96 |
Tracked Units by Federal Program in El Paso County, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in El Paso County, Colorado
El Paso County features 1,669 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 El Paso County, Colorado
There are 3,331 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in El Paso County.
Housing Choice Vouchers in El Paso County, Colorado
On average, Section 8 Housing Choice vouchers pay El Paso County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in El Paso County.
The maximum amount a voucher would pay on behalf of a low-income tenant in El Paso County, Colorado for a two-bedroom apartment is between $1,561 and $1,907.
Sourced from federal housing data and AffordableHousingOnline.com research.
