Apply to Lafayette Apartment Waiting Lists
- Boulder Affordable Rentals Project-Based is open.
- Canopy at Red Oak Park Project-Based is open.
- Fall River Apartments Section 8 Project-Based Voucher is open.
- The Spoke on Coffman Project-Based is open.
- Tandra Lake Apartments Project-Based is open.
- Aspen Meadows Neighborhood Project-Based is open.
- Hearthstone and Lodge at Hover Crossing Elderly Supported Housing Senior is open.
- Spring Creek 55+ Senior is open.
- 30Pearl Community, Neuro-Inclusive Housing and Independent Living Program Project-Based is open.
- Willoughby Corner Phase 1 Project-Based is open.
Helios Station Apartments
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There are 294 low-income apartments in Lafayette that offer reduced rents to eligible households.
Rental assistance programs support 30 low-income homes in Lafayette where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $474 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Lafayette, Colorado
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
| Housing Authority | Programs |
|---|---|
| Boulder County Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Boulder Housing Partners | Section 8 Housing Choice Voucher (HCV); Public Housing; Moving to Work |
| Longmont Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Lafayette, Colorado Affordable Housing Data
Income Based Apartments in Lafayette, Colorado
Lafayette features 30 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 Lafayette, Colorado
There are 294 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lafayette.
Housing Choice Vouchers in Lafayette, Colorado
On average, Section 8 Housing Choice vouchers pay Lafayette landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Lafayette.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lafayette, Colorado for a two-bedroom apartment is between $1,995 and $2,439.
2024 Lafayette, 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 | |
|---|---|---|---|---|---|
| Lafayette, Colorado Fair Market Rent | $1,585 | $1,823 | $2,217 | $2,898 | $3,394 |
| Lafayette, Colorado Payment Standard Range | $1,427 to $1,744 | $1,641 to $2,005 | $1,995 to $2,439 | $2,608 to $3,188 | $3,055 to $3,733 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Lafayette, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 11 |
|---|---|
| Total Low Income Apartments | 331 |
| Total Housing Units with Rental Assistance | 30 |
| Percentage of Housing Units Occupied By Renters | 28.53% |
| Average Renter Household Size | 2.54 |
| Average Household Size | 2.46 |
| Median Household Income | $70,714 ±$3,224 |
| Median Rent | $1,222 ±$61 |
| Percentage Of Renters Overburdened | 49.89% ± 7.71pp |
| Total Population | 26,430 |
Population and Household Demographics
Lafayette is a city in Boulder County, Colorado with a population of 26,430. There are 10,729 households in the city with an average household size of 2.46 persons. 28.53% of households in Lafayette are renters.
Income and Rent Overburden in Lafayette
The median gross income for households in Lafayette is $70,714 a year, or $5,893 a month. The median rent for the city is $1,222 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lafayette, a household making less than $4,073 a month would be considered overburdened when renting an apartment at or above the median rent. 49.89% of households who rent are overburdened in Lafayette.
Area Median Income In Lafayette
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.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Lafayette, the AMI is calculated from all households within Boulder County.
In Lafayette, HUD calculates the Area Median Income for a family of four as $144,100
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 Lafayette
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 Lafayette
| 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 Lafayette AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$27,900 | $31,900 | $35,900 | $39,850 | $43,050 | $46,250 | $49,450 | $52,650 |
| 50% AMI Income Limits Renters earning up to 50% of the Lafayette AMI may qualify for rental assistance programs that target Very Low Income households. |
$46,500 | $53,150 | $59,800 | $66,400 | $71,750 | $77,050 | $82,350 | $87,650 |
| 80% AMI Income Limits Renters earning up to 80% of the Lafayette AMI may qualify for rental assistance programs that target Low Income households. |
$66,700 | $76,200 | $85,750 | $95,250 | $102,900 | $110,500 | $118,150 | $125,750 |
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