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Affordable Housing In Greenwood Village
Arapahoe County, Colorado

2 Low Income Apartment Communities In Greenwood Village

Prentice Place Lofts

8300 E Prentice Ave
Greenwood Village, Colorado

Caley Ridge

9530 E Caley Cir
Greenwood Village, Colorado
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Housing Authorities that serve Greenwood Village

Housing Authority Programs
South Metro Housing Options Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Greenwood Village, Colorado

There are 2 low income housing apartment communities offering 204 affordable apartments for rent in Greenwood Village, Colorado.

Income Based Apartments in Greenwood Village, Colorado

Greenwood Village 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 Greenwood Village, Colorado

There are 204 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Greenwood Village.

Housing Choice Vouchers in Greenwood Village, Colorado

On average, Section 8 Housing Choice vouchers pay Greenwood Village landlords $1,000 per month towards rent. The average voucher holder contributes $300 towards rent in Greenwood Village.

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

2021 Greenwood Village, 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
Greenwood Village, Colorado Fair Market Rent $1,179 $1,304 $1,605 $2,186 $2,486
Greenwood Village, 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.

Greenwood Village, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 204
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 32.78%
Average Renter Household Size 1.79
Average Household Size 2.46
Median Household Income $117,500 ±$9,164
Median Rent $1,418 ±$97
Percentage Of Renters Overburdened 35.49% ± 10.87pp
Total Population 14,920

Population and Household Demographics

Greenwood Village is a city in Arapahoe County, Colorado with a population of 14,920. There are 6,044 households in the city with an average household size of 2.46 persons. 32.78% of households in Greenwood Village are renters.

Income and Rent Overburden in Greenwood Village

The median gross income for households in Greenwood Village is $117,500 a year, or $9,792 a month. The median rent for the city is $1,418 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Greenwood Village, a household making less than $4,727 a month would be considered overburdened when renting an apartment at or above the median rent. 35.49% of households who rent are overburdened in Greenwood Village.

Area Median Income In Greenwood Village

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 Greenwood Village, the AMI is calculated from all households within Arapahoe County.

In Greenwood Village, HUD calculates the Area Median Income for a family of four as $104,800

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 Greenwood Village

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 Greenwood Village

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 Greenwood Village AMI may qualify for rental assistance programs that target Extremely Low Income households.
$22,050 $25,200 $28,350 $31,450 $34,000 $36,500 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Greenwood Village AMI may qualify for rental assistance programs that target Very Low Income households.
$36,700 $41,950 $47,200 $52,400 $56,600 $60,800 $65,000 $69,200
80% AMI Income Limits
Renters earning up to 80% of the Greenwood Village AMI may qualify for rental assistance programs that target Low Income households.
$55,950 $63,950 $71,950 $79,900 $86,300 $92,700 $99,100 $105,500