How many renters live in South Fork, Colorado?
The City of South Fork has 458 people living in 213 households.
There are 131 renters living in 54 renter households in this City. Renters make up 28.6 percent of the population living in South Fork.
What is the rental market like in South Fork, Colorado?
There are an estimated 644 housing units in the South Fork area. Of these, 65 units are rental homes, making up 10 percent of the housing market. For every renter household in South Fork, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in South Fork?
The rental vacancy rate in South Fork is 17 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 South Fork for each bedroom size?
Occupied Rental Units by Size in South Fork
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 9 | 17 | 28 | 0 |
Occupied Rental Units by Size in South Fork
A large number of apartments in South Fork 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 South Fork are overburdened by housing costs?
Among renter households in this market, 13 percent have housing cost burden. Further, 0 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 South Fork
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 South Fork, Colorado
How many units are rented at Fair Market Rent (FMR) in South Fork?
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 | 3 | 33 percent |
| Two BR | 14 | 82 percent |
Rental Units Below FMR in South Fork, Colorado
How many affordable rental units are in South Fork?
There are a variety of federal affordable housing programs serving households in South Fork, Colorado including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 34 |
| USDA Section 515 Rural Rental Housing | 48 |
Tracked Units by Federal Program in South Fork, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in South Fork, Colorado
South Fork features 48 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 South Fork, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in South Fork.
Housing Choice Vouchers in South Fork, Colorado
On average, Section 8 Housing Choice vouchers pay South Fork landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in South Fork.
The maximum amount a voucher would pay on behalf of a low-income tenant in South Fork, Colorado for a two-bedroom apartment is between $966 and $1,180.
Sourced from federal housing data and AffordableHousingOnline.com research.
