How many renters live in Summit County, Colorado?
The County of Summit County has people living in households.
There are renters living in renter households in this County. Renters make up 33.09 percent of the population living in Summit County.
What is the rental market like in Summit County, Colorado?
There are an estimated housing units in the Summit County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Summit County, Colorado, there are 1.65 rental units.
What is the vacancy rate for rentals in Summit County?
The rental vacancy rate in Summit County is 37 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 Summit County for each bedroom size?
Occupied Rental Units by Size in Summit County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 389 | 906 | 1,430 | 576 | 198 |
Occupied Rental Units by Size in Summit County
A large number of apartments in Summit County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many units are rented at Fair Market Rent (FMR) in Summit 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 | 304 | 78 percent |
| One BR | 589 | 65 percent |
| Two BR | 296 | 21 percent |
Rental Units Below FMR in Summit County, Colorado
How many affordable rental units are in Summit County?
There are a variety of federal affordable housing programs serving households in Summit County, Colorado including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Summit County, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Summit County, Colorado
Summit County features 30 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 Summit County, Colorado
There are 333 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Summit County.
Housing Choice Vouchers in Summit County, Colorado
On average, Section 8 Housing Choice vouchers pay Summit County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Summit County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Summit County, Colorado for a two-bedroom apartment is between $1,998 and $2,442.
Sourced from federal housing data and AffordableHousingOnline.com research.