How many renters live in Mineral County, Colorado?
The County of Mineral County has 794 people living in 418 households.
There are 169 renters living in 110 renter households in this County. Renters make up 21.28 percent of the population living in Mineral County.
What is the rental market like in Mineral County, Colorado?
There are an estimated 1,261 housing units in the Mineral County area. Of these, 123 units are rental homes, making up 10 percent of the housing market. For every renter household in Mineral County, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in Mineral County?
The rental vacancy rate in Mineral County is 11 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Mineral County for each bedroom size?
Occupied Rental Units by Size in Mineral County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 8 | 52 | 39 | 0 | 11 |
Occupied Rental Units by Size in Mineral County
A large number of apartments in Mineral 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 Mineral County are overburdened by housing costs?
Among renter households in this market, 44 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 Mineral 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 Mineral County, Colorado
How many units are rented at Fair Market Rent (FMR) in Mineral 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 | 5 | 63 percent |
| One BR | 50 | 96 percent |
| Two BR | 12 | 31 percent |
Rental Units Below FMR in Mineral County, Colorado
How many affordable rental units are in Mineral County?
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 $1,228 and $1,500.
Sourced from federal housing data and AffordableHousingOnline.com research.
