The vacancy rate for affordable rental housing in the state dropped to 4.7 percent during the second quarter, according to a report released Monday by the Colorado Division of Housing and the Colorado Housing and Finance Authority.
That’s down from 6 percent during the first quarter.
“Folks who have lost their homes through foreclosures or needed to sell on a short-sale basis have forced more folks into the rental market,” said Steve Wessler, vice president of Red Stone Agency Lending, which specializes in affordable-housing financing for families and senior citizens. “We’ve just got more households in rental units and more households that need affordable housing.”
Affordable housing is defined as anything that is “deed-restricted” or “rent-restricted.” The unit can be rented only to households that meet certain income requirements.
The tightest market for rent-restricted housing was in Grand Junction, which had a vacancy rate of 1.7 percent. Other tight markets included Pueblo, 4.1 percent; the Denver metro area, 4.3 percent; and Colorado Springs, 5.1 percent.
The highest vacancy rates were in Greeley, 5.6 percent; Loveland, 7.8 percent; and Fort Collins, 8.2 percent.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
Crowded housing
Affordable-housing vacancy rates in selected Colorado communities during the second quarter:
Grand Junction 1.7%
Pueblo 4.1%
Denver 4.3%
Colorado Springs 5.1%
Greeley 5.6%
Loveland 7.8%
Fort Collins 8.2%
Source: Colorado Division of Housing, Colorado Housing and Finance Authority
