Affordable Housing In Nucla
Montrose County, Colorado

1 Low Income Apartment Communities In Nucla

Nucla Apartments

300 E 3rd Ave
Nucla, CO
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Housing Authorities that serve Nucla

Housing Authority Programs
Montrose County Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Nucla, Colorado

According to federal housing data and AffordableHousingOnline.com research, there are 1 low income housing apartment communities offering 10 affordable apartments for rent in Nucla, Colorado. Nucla features 0 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 10 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Nucla.

Nucla, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 10
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 30.08%
Average Renter Household Size 1.96
Average Household Size 2.13
Median Household Income $30,000 ±$13,093
Median Rent $605 ±$251
Percentage Of Renters Overburdened 33.78% ± 20.59pp
Total Population 525

Population and Household Demographics

Nucla is a City in Montrose County, Colorado with a population of 525. There are 246 households in the city with an average household size of 2.13 persons. 30.08% of households in Nucla are renters.

Income and Rent Overburden in Nucla

The median gross income for households in Nucla is $30,000 a year, or $2,500 a month. The median rent for the city is $605 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Nucla, a household making less than $2,017 a month would be considered overburdened when renting an apartment at or above the median rent. 33.78% of households who rent are overburdened in Nucla.1

Area Median Income In Nucla

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 Nucla, the AMI is calculated from all households within Montrose County.

In Nucla, HUD calculates the Area Median Income for a family of four as $59,100

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 Nucla

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 Nucla HUD Rental Assistance in Nucla

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,350 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,850 $27,250 $30,650 $34,050 $36,800 $39,500 $42,250 $44,950
80% of Median $38,150 $43,600 $49,050 $54,500 $58,900 $63,250 $67,600 $71,950
Low Income Housing Tax Credits in Nucla

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1991 to 1991, 1 low income apartment communities containing 10 rental apartments have been constructed and made affordable to low income persons in Nucla by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Nucla

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,850 $27,250 $30,650 $34,050 $36,800 $39,500 $42,250 $44,950
60% of Median $28,620 $32,700 $36,780 $40,860 $44,160 $47,400 $50,700 $53,940

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Nucla is $36,780 a year, or $3,065 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,065 by 30% to get a maximum rent of $920 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $596 $639 $766 $886 $988 $1,090
60% $716 $767 $920 $1,063 $1,185 $1,308
Fair Market Rents in Nucla

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$616 $620 $817 $1,151 $1,155