Low Income Apartments and Affordable Housing For Rent in Monument, CO

Discover affordable housing in Monument 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.

1122 Yellow Dogwood Hts

1122 Yellow Dogwood Hts, Monument, Colorado 80132

bed 4
payment $2395/mo.

16029 Denver Pacific Dr

16029 Denver Pacific Dr, Monument, Colorado 80132

bed 4
payment $2695/mo.

Monument View Apts

450 N Beacon Lite Rd, Monument, Colorado

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

How To Identify Affordable Housing in Monument, Colorado

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Monument, Colorado
$32.84/hour
$18.42 (+128%) more than Colorado minimum wage and $25.59 (+353%) more than the Federal minimum wage.
Learn More About Monument, Colorado Affordable Housing ↓

How many renters live in Monument, Colorado?

The City of Monument has people living in households.

There are renters living in renter households in this City. Renters make up 14.43 percent of the population living in Monument.

What is the rental market like in Monument, Colorado?

There are an estimated housing units in the Monument area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Monument, Colorado, there are 1.18 rental units.

What is the vacancy rate for rentals in Monument?

The rental vacancy rate in Monument is 15 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 Monument for each bedroom size?

Occupied Rental Units by Size in Monument
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 87 293 205 98
Occupied Rental Units by Size in Monument

A large number of apartments in Monument have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Monument

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,190 to $2,875. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,190
One BR $1,408
Two BR $1,734
Three BR $2,444
Four BR $2,875
2024 Fair Market Rents in Monument, Colorado

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

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 0 100 percent
Two BR 225 77 percent
Rental Units Below FMR in Monument, Colorado

How many affordable rental units are in Monument?

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

Federal Program Unit Count
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Monument, Colorado

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

Income Based Apartments in Monument, Colorado

Monument features 48 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 Monument, Colorado

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

Housing Choice Vouchers in Monument, Colorado

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Monument, Colorado for a two-bedroom apartment is between $1,561 and $1,907.

Sourced from federal housing data and AffordableHousingOnline.com research.

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