Low Income Apartments and Affordable Housing For Rent in Lake County, CO

Discover affordable housing in Lake County where there are 3+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Tabor Grand

711 Harrison Ave, Leadville, Colorado 80461

Mount Massive Manor

131 W 12th St, Leadville, Colorado 80461

H1hom00072 Rmmh Acquisition - Sawatch

400 W 17th St, Leadville, Colorado 80461

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lake County, Colorado
$25.83/hour
$11.41 (+79%) more than Colorado minimum wage and $18.58 (+256%) more than the Federal minimum wage.
Learn More About Lake County, Colorado Affordable Housing ↓

What HUD offices serve Lake County, Colorado?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Homeownership Voucher, Family Self-Sufficiency, Mainstream Voucher programs for Lake County, Colorado.

Go to the Colorado Public Housing and Low-Income Apartments Waiting Lists page for openings near Lake County.

How many renters live in Lake County, Colorado?

The County of Lake County has 7,403 people living in 2,837 households.

There are 1,506 renters living in 641 renter households in this County. Renters make up 20.34 percent of the population living in Lake County.

What is the rental market like in Lake County, Colorado?

There are an estimated 4,010 housing units in the Lake County area. Of these, 641 units are rental homes, making up 16 percent of the housing market. For every renter household in Lake County, Colorado, there are 1 rental units.

What is the vacancy rate for rentals in Lake County?

The rental vacancy rate in Lake County is 0 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 Lake County for each bedroom size?

Occupied Rental Units by Size in Lake County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 120 281 232 8
Occupied Rental Units by Size in Lake County

A large number of apartments in Lake County 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 Lake County are overburdened by housing costs?

Among renter households in this market, 64 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 Lake County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,031 to $2,196. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,031
One BR $1,038
Two BR $1,364
Three BR $1,753
Four BR $2,196
2024 Fair Market Rents in Lake County, Colorado

How many units are rented at Fair Market Rent (FMR) in Lake County?

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
One BR 77 64 percent
Two BR 92 33 percent
Rental Units Below FMR in Lake County, Colorado

How many affordable rental units are in Lake County?

There are a variety of federal affordable housing programs serving households in Lake County, Colorado including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 74
Section 8 Project-Based Rental Assistance 24
Tracked Units by Federal Program in Lake County, Colorado

Rental units may be funded in part by multiple federal programs.

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 $1,228 and $1,500.

Sourced from federal housing data and AffordableHousingOnline.com research.