There are 512 low-income apartments in Rio Grande County that offer reduced rents to eligible households.
Rental assistance programs support 322 low-income homes in Rio Grande County where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $284 towards rent each month.
Rio Grande County features 322 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
There are 512 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rio Grande County.
On average, Section 8 Housing Choice vouchers pay Rio Grande County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Rio Grande County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rio Grande County, Colorado for a two-bedroom apartment is between $809 and $989.
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|
|Rio Grande County, Colorado Fair Market Rent||$691||$695||$899||$1,204||$1,452|
|Rio Grande County, Colorado Payment Standard Range||$622 to $760||$626 to $765||$809 to $989||$1,084 to $1,324||$1,307 to $1,597|
Sourced from federal housing data and AffordableHousingOnline.com research.
|Total Affordable Apartment Properties||22|
|Total Low Income Apartments||978|
|Total Housing Units with Rental Assistance||322|
|Percentage of Housing Units Occupied By Renters||33.33%|
|Average Renter Household Size||2.29|
|Average Household Size||2.49|
|Median Household Income||$39,672 ±$4,196|
|Median Rent||$575 ±$61|
|Percentage Of Renters Overburdened||33.07% ± 7.83pp|
Rio Grande County is a county in Colorado with a population of 11,745. There are 4,617 households in the county with an average household size of 2.49 persons. 33.33% of households in Rio Grande County are renters.
The median gross income for households in Rio Grande County is $39,672 a year, or $3,306 a month. The median rent for the county is $575 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rio Grande County, a household making less than $1,917 a month would be considered overburdened when renting an apartment at or above the median rent. 33.07% of households who rent are overburdened in Rio Grande County.
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.
In Rio Grande County, HUD calculates the Area Median Income for a family of four as $64,600
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 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.
|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 Rio Grande County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Rio Grande County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Rio Grande County AMI may qualify for rental assistance programs that target Low Income households.