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Affordable Housing In Lake County
Colorado

3 Low Income Apartment Communities In Lake County

Mount Massive Manor

131 W 12th St
Leadville, Colorado
Subsidized

Tabor Grand

711 Harrison Ave
Leadville, Colorado

H1hom00072 Rmmh Acquisition - Sawatch

400 W 17th St
Leadville, Colorado
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Housing Authorities that serve Lake County

Housing Authority Programs
Upper Arkansas Area Council of Governments Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-Sufficiency; Mainstream Voucher

Guide To Affordable Housing in Lake County, Colorado

There are 3 low income housing apartment communities offering 220 affordable apartments for rent in Lake County, Colorado.

Income Based Apartments in Lake County, Colorado

Lake County features 24 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 Lake County, Colorado

There are 196 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake County.

Housing Choice Vouchers in Lake County, Colorado

On average, Section 8 Housing Choice vouchers pay Lake County landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Lake County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lake County, Colorado for a two-bedroom apartment is between $783 and $957.

2021 Lake 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
Lake County, Colorado Fair Market Rent $746 $763 $870 $1,245 $1,370
Lake County, Colorado Payment Standard Range $671 to $821 $687 to $839 $783 to $957 $1,121 to $1,370 $1,233 to $1,507

Sourced from federal housing data and AffordableHousingOnline.com research.

Lake County, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 220
Total Housing Units with Rental Assistance 24
Percentage of Housing Units Occupied By Renters 43.47%
Average Renter Household Size 2.26
Average Household Size 2.38
Median Household Income $45,367 ±$6,912
Median Rent $850 ±$121
Percentage Of Renters Overburdened 38.48% ± 10.27pp
Total Population 7,362

Population and Household Demographics

Lake County is a county in Colorado with a population of 7,362. There are 3,025 households in the county with an average household size of 2.38 persons. 43.47% of households in Lake County are renters.

Income and Rent Overburden in Lake County

The median gross income for households in Lake County is $45,367 a year, or $3,781 a month. The median rent for the county is $850 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lake County, a household making less than $2,833 a month would be considered overburdened when renting an apartment at or above the median rent. 38.48% of households who rent are overburdened in Lake County.

Area Median Income In Lake 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 Lake County, HUD calculates the Area Median Income for a family of four as $66,800

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 Lake 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 Lake 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 Lake County AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,950 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% AMI Income Limits
Renters earning up to 50% of the Lake County AMI may qualify for rental assistance programs that target Very Low Income households.
$24,850 $28,400 $31,950 $35,500 $38,350 $41,200 $44,050 $46,900
80% AMI Income Limits
Renters earning up to 80% of the Lake County AMI may qualify for rental assistance programs that target Low Income households.
$39,800 $45,450 $51,150 $56,800 $61,350 $65,900 $70,450 $75,000

Cities In Lake County

Select A City to View its Apartment Communities and Waiting Lists.

City Served By
Leadville The HUD funded Public Housing Agency that serves Leadville is the Upper Arkansas Area Council of Governments.
Leadville North The HUD funded Public Housing Agency that serves Leadville North is the Upper Arkansas Area Council of Governments.
Twin Lakes The HUD funded Public Housing Agency that serves Twin Lakes is the Upper Arkansas Area Council of Governments.