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

Discover affordable housing in Chaffee County where there are 8+ 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.

Collegiate Commons

609 East Pine Street, Buena Vista, Colorado 81211

Salida Ridge Apartments

6201 Cleora Rd, Salida, Colorado 81201

deAnza Vista Homes

607 Poncha Ave, Poncha Springs, Colorado 81242

deAnza Vista Townhomes

10001 Poncha Springs Ln, Poncha Springs, Colorado 81242

Sunrise Manor Apartments

301 Alsina St, Buena Vista, Colorado 81211

River Bend Apartments

1500 Holman Ave, Salida, Colorado 81201

Salida Apartments

530 Teller St, Salida, Colorado 81201

Mt Shavano Manor

525 W 16th St, Salida, Colorado 81201

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Chaffee County, Colorado
$27.03/hour
$12.61 (+87%) more than Colorado minimum wage and $19.78 (+273%) more than the Federal minimum wage.
Learn More About Chaffee County, Colorado Affordable Housing ↓

What HUD offices serve Chaffee 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 Chaffee County, Colorado.

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

How many renters live in Chaffee County, Colorado?

The County of Chaffee County has 19,564 people living in 9,066 households.

There are 5,500 renters living in 2,757 renter households in this County. Renters make up 28.11 percent of the population living in Chaffee County.

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

There are an estimated 11,072 housing units in the Chaffee County area. Of these, 2,856 units are rental homes, making up 26 percent of the housing market. For every renter household in Chaffee County, Colorado, there are 1 rental units.

What is the vacancy rate for rentals in Chaffee County?

The rental vacancy rate in Chaffee County is 3 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 Chaffee County for each bedroom size?

Occupied Rental Units by Size in Chaffee County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
76 542 948 1,023 168
Occupied Rental Units by Size in Chaffee County

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

Among renter households in this market, 50 percent have housing cost burden. Further, 26 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 Chaffee County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,079 to $2,422. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,079
One BR $1,086
Two BR $1,427
Three BR $1,992
Four BR $2,422
2024 Fair Market Rents in Chaffee County, Colorado

How many units are rented at Fair Market Rent (FMR) in Chaffee 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
Studio 76 100 percent
One BR 311 57 percent
Two BR 530 56 percent
Rental Units Below FMR in Chaffee County, Colorado

How many affordable rental units are in Chaffee County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 236
Public Housing 50
Section 8 Project-Based Rental Assistance 40
USDA Section 515 Rural Rental Housing 48
Tracked Units by Federal Program in Chaffee County, Colorado

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

Income Based Apartments in Chaffee County, Colorado

Chaffee County features 138 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 Chaffee County, Colorado

There are 164 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Chaffee County.

Housing Choice Vouchers in Chaffee County, Colorado

On average, Section 8 Housing Choice vouchers pay Chaffee County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Chaffee County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Chaffee County, Colorado for a two-bedroom apartment is between $1,284 and $1,570.

Sourced from federal housing data and AffordableHousingOnline.com research.