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There are 3,331 low-income apartments in El Paso County that offer reduced rents to eligible households.
Rental assistance programs support 1,669 low-income homes in El Paso County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $344 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.
El Paso County, Colorado Affordable Housing Data
Income Based Apartments in El Paso County, Colorado
El Paso County features 1,669 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 El Paso County, Colorado
There are 3,331 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in El Paso County.
Housing Choice Vouchers in El Paso County, Colorado
On average, Section 8 Housing Choice vouchers pay El Paso County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in El Paso County.
The maximum amount a voucher would pay on behalf of a low-income tenant in El Paso County, Colorado for a two-bedroom apartment is between $1,561 and $1,907.
2024 El Paso 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 | |
|---|---|---|---|---|---|
| El Paso County, Colorado Fair Market Rent | $1,190 | $1,408 | $1,734 | $2,444 | $2,875 |
| El Paso County, Colorado Payment Standard Range | $1,071 to $1,309 | $1,267 to $1,549 | $1,561 to $1,907 | $2,200 to $2,688 | $2,588 to $3,163 |
Sourced from federal housing data and AffordableHousingOnline.com research.
El Paso County, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 376 |
|---|---|
| Total Low Income Apartments | 5,504 |
| Total Housing Units with Rental Assistance | 1,669 |
| Percentage of Housing Units Occupied By Renters | 37.48% |
| Average Renter Household Size | 2.50 |
| Average Household Size | 2.60 |
| Median Household Income | $58,206 ±$869 |
| Median Rent | $976 ±$12 |
| Percentage Of Renters Overburdened | 48.87% ± 1.51pp |
| Total Population | 655,024 |
Population and Household Demographics
El Paso County is a county in Colorado with a population of 655,024. There are 245,287 households in the county with an average household size of 2.60 persons. 37.48% of households in El Paso County are renters.
Income and Rent Overburden in El Paso County
The median gross income for households in El Paso County is $58,206 a year, or $4,851 a month. The median rent for the county is $976 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In El Paso County, a household making less than $3,253 a month would be considered overburdened when renting an apartment at or above the median rent. 48.87% of households who rent are overburdened in El Paso County.
Area Median Income In El Paso 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 El Paso County, HUD calculates the Area Median Income for a family of four as $105,100
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 El Paso 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 El Paso 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 El Paso County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$20,500 | $23,400 | $26,350 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the El Paso County AMI may qualify for rental assistance programs that target Very Low Income households. |
$34,150 | $39,000 | $43,900 | $48,750 | $52,650 | $56,550 | $60,450 | $64,350 |
| 80% AMI Income Limits Renters earning up to 80% of the El Paso County AMI may qualify for rental assistance programs that target Low Income households. |
$54,600 | $62,400 | $70,200 | $78,000 | $84,250 | $90,500 | $96,750 | $103,000 |
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