DENVER—A Colorado Division of Housing report says there still aren’t enough affordable rental units in the state.
The division considers rent to be affordable if it is less than 30 percent of a household’s monthly income. That means a household that earns $20,000 a year can afford a monthly rent of $500. By that standard, the division says, there are 54 affordable rental units for every 100 Colorado households that earn less than $20,000.
The division says an estimated 142,100 households spend at least half their incomes on housing. That represents almost one-fourth of Colorado renter households.
The report, which was released Thursday, is based on the Census Bureau’s American Community Survey from 2005 to 2009. A report by the division last year made similar findings but used slightly different methodology.
