Colorado’s reputation as a “life style state” for retirees, second-home owners and others has elevated housing prices beyond the reach of many people earning the average salary in their professions, according to a report released Wednesday by the Colorado Blue Ribbon Panel on Housing.
Developing workforce housing is the key to the state’s long-term economic vitality, according to the report. But each region in the state has different affordable-housing and funding needs, which calls for unique solutions.
For example, a Weld County police officer earning $38,979 a year can afford a $135,000 house – based on spending 30 percent of income on housing. However, the median cost of a home in the area is $185,168. Meanwhile, a Mesa County cop can afford $137,000; houses there go for $151,344.
“What happens on the Eastern Plains is not the same as what happens in Grand Junction,” said Kathi Williams, executive director of the Colorado Division of Housing and co-chairwoman of the panel.
Durango is a candidate for construction of new apartments because the apartment vacancy rate is in the single digits and costs are escalating, Williams said.
But the housing division hasn’t had a grant application from Durango in more than three years, she said.
The panel established six regional roundtables to determine the housing needs in their areas. The Division of Housing will provide administrative and research support to the regions, but each area is responsible for developing its own plan, Wil liams said.
The panel made recommendations in five categories: strategic partnerships; data collection and delivery; improved access to housing services; new funding solutions; and public-policy development.
Staff writer Margaret Jackson can be reached at 303-820-1473 or mjackson@denverpost.com.
More online: Housing report.
