Affordable Housing In Lincoln County
Colorado

4 Low Income Apartment Communities In Lincoln County

Other Housing Authorities located in Lincoln County

Housing Authority	Programs
Housing Authority of the Town of Limon	Public Housing

Guide To Affordable Housing in Lincoln County, Colorado

There are 4 low income housing apartment communities offering 76 affordable apartments for rent in Lincoln County, Colorado. Lincoln County features 60 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 16 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Lincoln County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Lincoln County, CO Affordable Housing Snapshot

Total Affordable Apartment Properties	4
Total Low Income Apartments	76
Total Housing Units with Rental Assistance	60
Percentage of Housing Units Occupied By Renters	34.23%
Average Renter Household Size	2.36
Average Household Size	2.24
Median Household Income	$39,005 ±$4,134
Median Rent	$705 ±$53
Percentage Of Renters Overburdened	42.51% ± 10.02pp
Total Population	5,478

Population and Household Demographics

Lincoln County is a County in Colorado with a population of 5,478. There are 1,677 households in the county with an average household size of 2.24 persons. 34.23% of households in Lincoln County are renters.

Income and Rent Overburden in Lincoln County

The median gross income for households in Lincoln County is $39,005 a year, or $3,250 a month. The median rent for the county is $705 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lincoln County, a household making less than $2,350 a month would be considered overburdened when renting an apartment at or above the median rent. 42.51% of households who rent are overburdened in Lincoln County.¹

Area Median Income In Lincoln 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 Lincoln County, HUD calculates the Area Median Income for a family of four as $54,900

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 Lincoln 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 Lincoln County HUD Rental Assistance in Lincoln County

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% of Median	$14,350	$16,910	$21,330	$25,750	$30,170	$34,590	$39,010	$43,430
50% of Median	$23,850	$27,250	$30,650	$34,050	$36,800	$39,500	$42,250	$44,950
80% of Median	$38,150	$43,600	$49,050	$54,500	$58,900	$63,250	$67,600	$71,950

Low Income Housing Tax Credits in Lincoln County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1993 to 1993, 1 low income apartment communities containing 16 rental apartments have been constructed and made affordable to low income persons in Lincoln County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Lincoln County

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
50% of Median	$23,850	$27,250	$30,650	$34,050	$36,800	$39,500	$42,250	$44,950
60% of Median	$28,620	$32,700	$36,780	$40,860	$44,160	$47,400	$50,700	$53,940

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Lincoln County is $36,780 a year, or $3,065 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,065 by 30% to get a maximum rent of $920 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI	Studio	1 Bed	2 Bed	3 Bed	4 Bed	5 Bed
50%	$596	$639	$766	$886	$988	$1,090
60%	$716	$767	$920	$1,063	$1,185	$1,308

Fair Market Rents in Lincoln County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents

Studio	One BR	Two BR	Three BR	Four BR
$572	$576	$758	$981	$1,331