Low Income Apartments and Affordable Housing For Rent in Rio Grande County, CO

Discover affordable housing in Rio Grande County where there are 22+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Rio Grande County, Colorado
$5.90 (+41%) more than Colorado minimum wage and $13.07 (+180%) more than the Federal minimum wage.
Learn More About Rio Grande County, Colorado Affordable Housing ↓

How many renters live in Rio Grande County, Colorado?

The County of Rio Grande County has 11,442 people living in 4,657 households.

There are 2,717 renters living in 1,281 renter households in this County. Renters make up 23.75 percent of the population living in Rio Grande County.

What is the rental market like in Rio Grande County, Colorado?

There are an estimated 6,561 housing units in the Rio Grande County area. Of these, 1,414 units are rental homes, making up 22 percent of the housing market. For every renter household in Rio Grande County, Colorado, there are 1 rental units.

What is the vacancy rate for rentals in Rio Grande County?

The rental vacancy rate in Rio Grande County is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Rio Grande County for each bedroom size?

Occupied Rental Units by Size in Rio Grande County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
56 199 602 308 33
Occupied Rental Units by Size in Rio Grande County

A large number of apartments in Rio Grande County 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 Rio Grande County are overburdened by housing costs?

Among renter households in this market, 27 percent have housing cost burden. Further, 5 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 Rio Grande County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $842 to $1,728. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $842
One BR $843
Two BR $1,073
Three BR $1,297
Four BR $1,728
2024 Fair Market Rents in Rio Grande County, Colorado

How many units are rented at Fair Market Rent (FMR) in Rio Grande County?

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 56 100 percent
One BR 131 66 percent
Two BR 458 76 percent
Rental Units Below FMR in Rio Grande County, Colorado

How many affordable rental units are in Rio Grande County?

There are a variety of federal affordable housing programs serving households in Rio Grande County, Colorado including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 105
Section 8 Project-Based Rental Assistance 85
Section 202 Supportive Housing for the Elderly 28
USDA Section 515 Rural Rental Housing 248
USDA Section 514 Farm Labor Housing 97
Tracked Units by Federal Program in Rio Grande County, Colorado

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Rio Grande County, Colorado

Rio Grande County features 630 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 Rio Grande County, Colorado

There are 32 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rio Grande County.

Housing Choice Vouchers in Rio Grande County, Colorado

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 $966 and $1,180.

Sourced from federal housing data and AffordableHousingOnline.com research.