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Affordable Housing In Elbert County
Colorado

Guide To Affordable Housing in Elbert County, Colorado

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Elbert County, Colorado.

Income Based Apartments in Elbert County, Colorado

Elbert County 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 Elbert County, Colorado

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elbert County.

Housing Choice Vouchers in Elbert County, Colorado

On average, Section 8 Housing Choice vouchers pay Elbert County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Elbert County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Elbert County, Colorado for a two-bedroom apartment is between $1,445 and $1,766.

2021 Elbert County, 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
Elbert County, Colorado Fair Market Rent $1,179 $1,304 $1,605 $2,186 $2,486
Elbert County, Colorado Payment Standard Range $1,061 to $1,297 $1,174 to $1,434 $1,445 to $1,766 $1,967 to $2,405 $2,237 to $2,735

Sourced from federal housing data and AffordableHousingOnline.com research.

Elbert County, 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 11.3%
Average Renter Household Size 2.74
Average Household Size 2.82
Median Household Income $84,963 ±$4,050
Median Rent $1,083 ±$182
Percentage Of Renters Overburdened 37.22% ± 9.21pp
Total Population 23,855

Population and Household Demographics

Elbert County is a county in Colorado with a population of 23,855. There are 8,417 households in the county with an average household size of 2.82 persons. 11.3% of households in Elbert County are renters.

Income and Rent Overburden in Elbert County

The median gross income for households in Elbert County is $84,963 a year, or $7,080 a month. The median rent for the county is $1,083 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Elbert County, a household making less than $3,610 a month would be considered overburdened when renting an apartment at or above the median rent. 37.22% of households who rent are overburdened in Elbert County.

Area Median Income In Elbert 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 Elbert County, HUD calculates the Area Median Income for a family of four as $100,000

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 Elbert 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 HUD Rental Assistance in Elbert County

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 Elbert County AMI may qualify for rental assistance programs that target Extremely Low Income households.
$21,000 $24,000 $27,000 $30,000 $32,400 $35,160 $39,640 $44,120
50% AMI Income Limits
Renters earning up to 50% of the Elbert County AMI may qualify for rental assistance programs that target Very Low Income households.
$35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000
80% AMI Income Limits
Renters earning up to 80% of the Elbert County AMI may qualify for rental assistance programs that target Low Income households.
$54,950 $62,800 $70,650 $78,500 $84,800 $91,100 $97,350 $103,650