Affordable Housing Online is monitoring the federal government's response to the coronavirus disease (COVID-19) outbreak. 

An extensive list of coronavirus resources for low-income households can be found here.

Affordable Housing In Mineral County
Colorado

Guide To Affordable Housing in Mineral County, Colorado

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Mineral County, Colorado.

Income Based Apartments in Mineral County, Colorado

Mineral County 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 Mineral County, Colorado

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mineral County.

Housing Choice Vouchers in Mineral County, Colorado

On average, Section 8 Housing Choice vouchers pay Mineral County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Mineral County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Mineral County, Colorado for a two-bedroom apartment is between $881 and $1,077.

2021 Mineral 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
Mineral County, Colorado Fair Market Rent $796 $801 $979 $1,328 $1,541
Mineral County, Colorado Payment Standard Range $716 to $876 $721 to $881 $881 to $1,077 $1,195 to $1,461 $1,387 to $1,695

Sourced from federal housing data and AffordableHousingOnline.com research.

Mineral County, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 11.68%
Average Renter Household Size 2.58
Average Household Size 1.91
Median Household Income $48,125 ±$8,932
Median Rent $761 ±$173
Percentage Of Renters Overburdened 39.53% ± 41.57pp
Total Population 733

Population and Household Demographics

Mineral County is a county in Colorado with a population of 733. There are 368 households in the county with an average household size of 1.91 persons. 11.68% of households in Mineral County are renters.

Income and Rent Overburden in Mineral County

The median gross income for households in Mineral County is $48,125 a year, or $4,010 a month. The median rent for the county is $761 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Mineral County, a household making less than $2,537 a month would be considered overburdened when renting an apartment at or above the median rent. 39.53% of households who rent are overburdened in Mineral County.

Area Median Income In Mineral 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 Mineral County, HUD calculates the Area Median Income for a family of four as $75,500

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 Mineral 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 Mineral 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 Mineral County AMI may qualify for rental assistance programs that target Extremely Low Income households.
$15,900 $18,150 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% AMI Income Limits
Renters earning up to 50% of the Mineral County AMI may qualify for rental assistance programs that target Very Low Income households.
$26,450 $30,200 $34,000 $37,750 $40,800 $43,800 $46,850 $49,850
80% AMI Income Limits
Renters earning up to 80% of the Mineral County AMI may qualify for rental assistance programs that target Low Income households.
$42,300 $48,350 $54,400 $60,400 $65,250 $70,100 $74,900 $79,750