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There are 296 low-income apartments in Broomfield County that offer reduced rents to eligible households.
Rental assistance programs support 88 low-income homes in Broomfield County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $361 towards rent each month.
Affordable rent data for some communities last confirmed on July 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Broomfield County, Colorado Affordable Housing Data
Income Based Apartments in Broomfield County, Colorado
Broomfield County features 88 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Broomfield County, Colorado
There are 296 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Broomfield County.
Housing Choice Vouchers in Broomfield County, Colorado
On average, Section 8 Housing Choice vouchers pay Broomfield County landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Broomfield County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Broomfield County, Colorado for a two-bedroom apartment is between $1,981 and $2,421.
2024 Broomfield County, Colorado Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Broomfield County, Colorado Fair Market Rent | $1,658 | $1,835 | $2,201 | $2,874 | $3,225 |
| Broomfield County, Colorado Payment Standard Range | $1,492 to $1,824 | $1,652 to $2,019 | $1,981 to $2,421 | $2,587 to $3,161 | $2,903 to $3,548 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Broomfield County, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 14 |
|---|---|
| Total Low Income Apartments | 441 |
| Total Housing Units with Rental Assistance | 88 |
| Percentage of Housing Units Occupied By Renters | 31.59% |
| Average Renter Household Size | 2.28 |
| Average Household Size | 2.57 |
| Median Household Income | $81,898 ±$2,803 |
| Median Rent | $1,336 ±$38 |
| Percentage Of Renters Overburdened | 42.51% ± 4.24pp |
| Total Population | 60,699 |
Population and Household Demographics
Broomfield County is a county in Colorado with a population of 60,699. There are 23,531 households in the county with an average household size of 2.57 persons. 31.59% of households in Broomfield County are renters.
Income and Rent Overburden in Broomfield County
The median gross income for households in Broomfield County is $81,898 a year, or $6,825 a month. The median rent for the county is $1,336 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Broomfield County, a household making less than $4,453 a month would be considered overburdened when renting an apartment at or above the median rent. 42.51% of households who rent are overburdened in Broomfield County.
Area Median Income In Broomfield County
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
In Broomfield County, HUD calculates the Area Median Income for a family of four as $125,500
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Broomfield County
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Broomfield County
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Broomfield County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$26,100 | $29,800 | $33,550 | $37,250 | $40,250 | $43,250 | $46,200 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Broomfield County AMI may qualify for rental assistance programs that target Very Low Income households. |
$43,450 | $49,650 | $55,850 | $62,050 | $67,050 | $72,000 | $76,950 | $81,950 |
| 80% AMI Income Limits Renters earning up to 80% of the Broomfield County AMI may qualify for rental assistance programs that target Low Income households. |
$66,300 | $75,750 | $85,200 | $94,650 | $102,250 | $109,800 | $117,400 | $124,950 |
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