Norwood, Colorado Affordable Housing

Affordable Housing programs support 0 income based apartments in Norwood where households pay rent based on how much they earn.

There are 30 affordable apartments in Norwood that offer reduced rents to low-income households.

Waiting Lists in Norwood, Colorado

There are no open Section 8 Housing Choice Voucher waiting lists in Norwood. Go to the Colorado Section 8 Waiting Lists page for openings near Norwood.

Cottonwood Creek Estates

1610 San Miguel St
Norwood, Colorado
$1000
4 BR
Affordable
Showing Results 1-10
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Affordable Housing Near Norwood

View affordable apartments and waiting lists in cities near Norwood

City Apartments
Mountain Village, CO Affordable Housing programs support 1 apartment communities in Mountain Village.
Telluride, CO Affordable Housing programs support 1 apartment communities in Telluride.

Public Housing Agencies Serving Norwood, 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.

Housing Authority Programs
San Miguel Regional Housing Authority Section 8 Housing Choice Voucher (HCV)
Go to the Colorado Public Housing and Low-Income Apartments Waiting Lists page for openings near Norwood.

Norwood, Colorado Affordable Housing Data

Income Based Apartments in Norwood, Colorado

Norwood 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 Norwood, Colorado

There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Norwood.

Housing Choice Vouchers in Norwood, Colorado

On average, Section 8 Housing Choice vouchers pay Norwood landlords $800 per month towards rent. The average voucher holder contributes $300 towards rent in Norwood.

The maximum amount a voucher would pay on behalf of a low-income tenant in Norwood, Colorado for a two-bedroom apartment is between $1,540 and $1,882.

2023 Norwood, 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
Norwood, Colorado Fair Market Rent $1,144 $1,300 $1,711 $2,082 $2,763
Norwood, Colorado Payment Standard Range $1,030 to $1,258 $1,170 to $1,430 $1,540 to $1,882 $1,874 to $2,290 $2,487 to $3,039

Sourced from federal housing data and AffordableHousingOnline.com research.

Norwood, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 30
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 44.39%
Average Renter Household Size 2.57
Average Household Size 2.67
Median Household Income $41,094 ±$11,198
Median Rent $806 ±$142
Percentage Of Renters Overburdened 56.57% ± 16.08pp
Total Population 595

Population and Household Demographics

Norwood is a city in San Miguel County, Colorado with a population of 595. There are 223 households in the city with an average household size of 2.67 persons. 44.39% of households in Norwood are renters.

Income and Rent Overburden in Norwood

The median gross income for households in Norwood is $41,094 a year, or $3,425 a month. The median rent for the city is $806 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Norwood, a household making less than $2,687 a month would be considered overburdened when renting an apartment at or above the median rent. 56.57% of households who rent are overburdened in Norwood.

Area Median Income In Norwood

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Norwood, the AMI is calculated from all households within San Miguel County.

In Norwood, HUD calculates the Area Median Income for a family of four as $104,800

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 Norwood

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 Norwood

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 Norwood AMI may qualify for rental assistance programs that target Extremely Low Income households.
$20,100 $23,000 $25,850 $28,700 $32,470 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Norwood AMI may qualify for rental assistance programs that target Very Low Income households.
$33,500 $38,250 $43,050 $47,800 $51,650 $55,450 $59,300 $63,100
80% AMI Income Limits
Renters earning up to 80% of the Norwood AMI may qualify for rental assistance programs that target Low Income households.
$53,550 $61,200 $68,850 $76,500 $82,650 $88,750 $94,900 $101,000