What HUD offices serve Paonia, 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.
Go to the Colorado Public Housing and Low-Income Apartments Waiting Lists page for openings near Paonia.
How many renters live in Paonia, Colorado?
The City of Paonia has 1,571 people living in 744 households.
There are 499 renters living in 295 renter households in this City. Renters make up 31.76 percent of the population living in Paonia.
What is the rental market like in Paonia, Colorado?
There are an estimated 894 housing units in the Paonia area. Of these, 322 units are rental homes, making up 36 percent of the housing market. For every renter household in Paonia, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in Paonia?
The rental vacancy rate in Paonia is 5 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 Paonia for each bedroom size?
Occupied Rental Units by Size in Paonia
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 40 | 206 | 33 | 16 |
Occupied Rental Units by Size in Paonia
A large number of apartments in Paonia 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 Paonia are overburdened by housing costs?
Among renter households in this market, 21 percent have housing cost burden. Further, 11 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 Paonia
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $883 to $1,827. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $883 |
| One BR | $889 |
| Two BR | $1,146 |
| Three BR | $1,556 |
| Four BR | $1,827 |
2024 Fair Market Rents in Paonia, Colorado
How many units are rented at Fair Market Rent (FMR) in Paonia?
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 | 15 | 38 percent |
| Two BR | 169 | 82 percent |
Rental Units Below FMR in Paonia, Colorado
How many affordable rental units are in Paonia?
There are a variety of federal affordable housing programs serving households in Paonia, Colorado including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 12 |
Tracked Units by Federal Program in Paonia, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Paonia, Colorado
Paonia 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 Paonia, Colorado
There are 20 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Paonia.
Housing Choice Vouchers in Paonia, Colorado
On average, Section 8 Housing Choice vouchers pay Paonia landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Paonia.
The maximum amount a voucher would pay on behalf of a low-income tenant in Paonia, Colorado for a two-bedroom apartment is between $1,031 and $1,261.
Sourced from federal housing data and AffordableHousingOnline.com research.
