How many renters live in Palmer Lake, Colorado?
The City of Palmer Lake has people living in households.
There are renters living in renter households in this City. Renters make up 8.29 percent of the population living in Palmer Lake.
What is the rental market like in Palmer Lake, Colorado?
There are an estimated housing units in the Palmer Lake area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Palmer Lake, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in Palmer Lake?
The rental vacancy rate in Palmer Lake is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Palmer Lake for each bedroom size?
Occupied Rental Units by Size in Palmer Lake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 10 | 8 | 38 | 31 | 0 |
Occupied Rental Units by Size in Palmer Lake
A large number of apartments in Palmer Lake 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 Palmer Lake
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 Palmer Lake, Colorado
How many units are rented at Fair Market Rent (FMR) in Palmer Lake?
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 | 4 | 40 percent |
| One BR | 7 | 88 percent |
| Two BR | 0 | 100 percent |
Rental Units Below FMR in Palmer Lake, Colorado
How many affordable rental units are in Palmer Lake?
Income Based Apartments in Palmer Lake, Colorado
Palmer Lake 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 Palmer Lake, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Palmer Lake.
Housing Choice Vouchers in Palmer Lake, Colorado
On average, Section 8 Housing Choice vouchers pay Palmer Lake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Palmer Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Palmer Lake, Colorado for a two-bedroom apartment is between $1,561 and $1,907.
Sourced from federal housing data and AffordableHousingOnline.com research.