Affordable Rental Costs
Date posted: 02/26/2009
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Affordable rental housing is defined as housing which costs no more than 30% of a household's gross monthly income for rent and utilities.
What this chart shows: Average Household Rent and Vacancy Rates in the Fort Collins/Loveland MSA, 2000 to 2008*
Data Source: Colorado Division of Housing
*The above chart and the corresponding table display data based on multi-unit (duplexes, apartment buildings, etc.) rental housing only based on 1st Quarter data.
What this chart shows: Percentage of Households Spending 30% and More of Gross Annual Household Income toward Rent by Income Range - Larimer County, 2007*
Data Source: Colorado Division of Housing
*The above chart and the corresponding table display data based on multi-unit (duplexes, apartment buildings, etc.) rental housing only.
What this chart shows: Percentage of Households Paying 30% and More of Gross Annual Household Income toward Rent - United States, Colorado, Larimer County & Cities and Towns, Census 2000
Data Source: United States Census Bureau
What this chart shows: Households by Percentage of Gross Annual Household Income Paid toward Rent - Larimer County, 2000
Data Source: United States Census Bureau
What these data tell us:
Vacancy rates in Larimer County increased almost 14% between the first quarter of 2001 and the first quarter of 2003. Since 2003, vacancy rates have declined each year, reaching 5.2% in the first quarter of 2008. Since 2004, average rent has increased nearly 4.7% from $726 per month in 2004 to $760 per month in 2008.In 2007, households earning less than $34,999 paid a substantially higher percentage of their income in rent than those earning $35,000 or more. It appears the need for more affordable housing is an ongoing problem for residents of Larimer County.
According to the 2000 Census, 45.6% of households in Fort Collins paid 30% or more of their gross annual income toward rent, an amount higher than the national, state, and county averages (36.8%, 38.7%, and 42.0%, respectively). The lowest percentage of households paying more than 30% of gross annual income toward rent lived in Timnath-Wellington (25.5%).
Additional Information:
- The 'Fort Collins/Loveland MSA' is used by the State of Colorado, Division of Housing, to discuss housing statistics for Larimer County. An MSA (Metropolitan Statistical Area) is a large population nucleus, with adjacent communities which have a high degree of social and economic integration.
- Average rent is the average rent charged for all rental units (includes all sizes and prices of units) in the listed Metropolitan Statistical Area (MSA).
- Vacancy Rates are the percentage of rental units (includes all sizes and prices of rental units) that are available for new renters during a particular quarter (3 months).
On Compass-
- Food Stamps
- Free/ Reduced Lunch Program
- Home Ownership/Affordable Housing
- Homelessness
- Housing Occupancy - Ownership/Renting
- Low Income Energy Assistance Program (LEAP)
- Poverty
- Self-Sufficient Wages
- Subsidized Housing
- Temporary Assistance to Needy Families (TANF)
Outside Compass-
- Colorado Division of Housing
- United States Census Bureau
- United States Department of Housing and Urban Development (HUD)
- 2009 Housing Colorado Facts Book
Data Tables:
Average Rent and Vacancy Rates - Fort Collins/Loveland MSA
|
Rent |
Vacancy Rate |
|
|
2000 |
$690 |
3.4% |
|
2001 |
$727 |
2.6% |
|
2002 |
$753 |
7.0% |
|
2003 |
$743 |
16.1% |
|
2004 |
$726 |
13.4% |
|
2005 |
$740 |
12.7% |
|
2006 |
$749 |
8.8% |
|
2007 |
$758 |
7.9% |
|
2008 |
$760 |
5.2% |
Households Paying 30% and More of Income toward Rent by Income Range - Larimer County, 2007
|
Less Than $10,000 |
$10,000 to $19,999 |
$20,000 to $34,999 |
$35,000 to $49,999 |
$50,000 to $74,999 |
$75,000 to $99,999 |
$100,000 and More |
|
|
Households in Income Range |
76.6% |
82.0% |
46.0% |
15.0% |
3.7% |
0.7% |
0.0% |
Percentage of Households Paying 30% and More Toward Rent
|
2000 Census |
30-34% |
35-39% |
40-49% |
50% or more |
TOTAL % |
|
United States |
7.3% |
5.1% |
6.7% |
17.6% |
36.8% |
|
Colorado |
8.3% |
5.7% |
7.2% |
17.4% |
38.7% |
|
Larimer County |
8.1% |
5.6% |
7.8% |
20.5% |
42.0% |
|
Berthoud |
7.7% |
8.3% |
7.9% |
8.8% |
32.7% |
|
Estes Park |
8.3% |
4.8% |
4.1% |
10.2% |
27.4% |
|
Fort Collins |
7.9% |
5.6% |
8.3% |
23.8% |
45.6% |
|
Livermore |
0.0% |
6.6% |
7.6% |
21.2% |
35.4% |
|
Loveland |
9.1% |
5.5% |
7.1% |
14.0% |
35.7% |
|
Timnath-Wellington |
4.1% |
3.9% |
6.7% |
10.8% |
25.5% |
Household Income to Rental Payment - Larimer County, 2000 Census
|
Percentage of Household Income Paid |
Percentage of Households Paying that Amount |
|
30-34% |
8.1% |
|
35-39% |
5.6% |
|
40-49% |
7.8% |
|
50% or more |
20.5% |