Affordable Housing In Fountain
El Paso County, Colorado

4 Low Income Apartment Communities In Fountain

Fountain Townhomes

111 E Ohio Ave
Fountain, Colorado
Subsidized

Fountain Ridge South Apartments

6850 Red Deer Pt
Fountain, Colorado

Fountain

906 Grinde Dr
Fountain, Colorado
Subsidized

Fountain Ridge

390 Comanche Village Dr
Fountain, Colorado
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Housing Authorities that serve Fountain

Housing Authority Programs
Housing Authority of the City of Fountain Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Fountain, Colorado

There are 4 low income housing apartment communities offering 166 affordable apartments for rent in Fountain, Colorado.

Income Based Apartments in Fountain, Colorado

Fountain features 55 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 Fountain, Colorado

There are 111 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fountain.

Housing Choice Vouchers in Fountain, Colorado

On average, Section 8 Housing Choice vouchers pay Fountain landlords $800 per month towards rent. The average voucher holder contributes $300 towards rent in Fountain.

The maximum amount a voucher would pay on behalf of a low-income tenant in Fountain, Colorado for a two-bedroom apartment is between $1,080 and $1,320.

2021 Fountain, 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
Fountain, Colorado Fair Market Rent $797 $949 $1,200 $1,717 $2,078
Fountain, Colorado Payment Standard Range $717 to $877 $854 to $1,044 $1,080 to $1,320 $1,545 to $1,889 $1,870 to $2,286

Sourced from federal housing data and AffordableHousingOnline.com research.

Fountain, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 166
Total Housing Units with Rental Assistance 55
Percentage of Housing Units Occupied By Renters 37.83%
Average Renter Household Size 2.90
Average Household Size 2.92
Median Household Income $57,057 ±$4,569
Median Rent $1,233 ±$68
Percentage Of Renters Overburdened 58.71% ± 9.54pp
Total Population 27,062

Population and Household Demographics

Fountain is a city in El Paso County, Colorado with a population of 27,062. There are 9,270 households in the city with an average household size of 2.92 persons. 37.83% of households in Fountain are renters.

Income and Rent Overburden in Fountain

The median gross income for households in Fountain is $57,057 a year, or $4,755 a month. The median rent for the city is $1,233 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Fountain, a household making less than $4,110 a month would be considered overburdened when renting an apartment at or above the median rent. 58.71% of households who rent are overburdened in Fountain.

Area Median Income In Fountain

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

In Fountain, HUD calculates the Area Median Income for a family of four as $82,400

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 Fountain

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 Fountain

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30% AMI Income Limits
Renters earning up to 30% of the Fountain AMI may qualify for rental assistance programs that target Extremely Low Income households.
$17,300 $19,800 $22,250 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Fountain AMI may qualify for rental assistance programs that target Very Low Income households.
$28,850 $33,000 $37,100 $41,200 $44,500 $47,800 $51,100 $54,400
80% AMI Income Limits
Renters earning up to 80% of the Fountain AMI may qualify for rental assistance programs that target Low Income households.
$46,150 $52,750 $59,350 $65,900 $71,200 $76,450 $81,750 $87,000