There is new evidence that being able to find a quality apartment with a low rent is getting more difficult in Colorado.
Colorado is ranked in the top 10 least-affordable states for rental housing, according to the National Low Income Housing Coalition’s annual “Out of Reach” report. Only states with notoriously high housing costs such as California, New York, Massachusetts, Hawaii and the District of Columbia outranked Colorado, which ranked No. 10.
The report stated to be able to afford a two-bedroom apartment, Coloradans must earn $16 an hour – three times the state’s minimum wage.
Housing costs being inflated more than the growth rate of wages is unacceptable. Colorado residents have more things to worry about than just paying rent – food, clothing, insurance and college are among them.
The lack of reasonable low-income housing has hit college towns especially hard. For people at CSU, the problem seems to be getting worse. Boulder, Denver and Larimer counties have some of the highest rent rates in the state, and all these counties have major universities. The average rent per person in these counties has ballooned to between $400-$700 a month.
There should be more quality low-income housing made available, not necessarily just by building new apartments and houses, but by lowering the rates of existing housing so that they are more affordable to students.
The city and state must also work together to helping alleviate this problem by offering some public assistance or regulation of landlords’ development costs to make housing more affordable.
If nothing is done, finding a place to live in places like Fort Collins and going to school at the same time will become increasingly more difficult.