How many renters live in Highlands Ranch, Colorado?
The City of Highlands Ranch has 103,830 people living in 38,839 households.
There are 17,372 renters living in 7,954 renter households in this City. Renters make up 16.73 percent of the population living in Highlands Ranch.
What is the rental market like in Highlands Ranch, Colorado?
There are an estimated 38,505 housing units in the Highlands Ranch area. Of these, 8,201 units are rental homes, making up 21 percent of the housing market. For every renter household in Highlands Ranch, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in Highlands Ranch?
The rental vacancy rate in Highlands Ranch is 4 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 Highlands Ranch for each bedroom size?
Occupied Rental Units by Size in Highlands Ranch
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 326 | 1,720 | 2,690 | 1,971 | 702 |
Occupied Rental Units by Size in Highlands Ranch
A large number of apartments in Highlands Ranch 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 Highlands Ranch are overburdened by housing costs?
Among renter households in this market, 45 percent have housing cost burden. Further, 22 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 Highlands Ranch
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,658 to $3,225. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,658 |
| One BR | $1,835 |
| Two BR | $2,201 |
| Three BR | $2,874 |
| Four BR | $3,225 |
2024 Fair Market Rents in Highlands Ranch, Colorado
How many units are rented at Fair Market Rent (FMR) in Highlands Ranch?
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 | 16 | 5 percent |
| One BR | 112 | 7 percent |
| Two BR | 168 | 6 percent |
Rental Units Below FMR in Highlands Ranch, Colorado
How many affordable rental units are in Highlands Ranch?
There are a variety of federal affordable housing programs serving households in Highlands Ranch, Colorado including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 192 |
Tracked Units by Federal Program in Highlands Ranch, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Highlands Ranch, Colorado
Highlands Ranch 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 Highlands Ranch, Colorado
There are 96 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Highlands Ranch.
Housing Choice Vouchers in Highlands Ranch, Colorado
On average, Section 8 Housing Choice vouchers pay Highlands Ranch landlords $800 per month towards rent. The average voucher holder contributes $400 towards rent in Highlands Ranch.
The maximum amount a voucher would pay on behalf of a low-income tenant in Highlands Ranch, Colorado for a two-bedroom apartment is between $1,981 and $2,421.
Sourced from federal housing data and AffordableHousingOnline.com research.
