Apply to Louisville 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.
There are 427 low-income apartments in Louisville that offer reduced rents to eligible households. Low-income rents in Louisville, Colorado can range from $1,105 to $1,532 depending on the number of bedrooms.
Rental assistance programs support 43 low-income homes in Louisville where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $397 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 Louisville, 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 |
Louisville, Colorado Affordable Housing Data
Income Based Apartments in Louisville, Colorado
Louisville features 43 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 Louisville, Colorado
There are 427 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Louisville.
Housing Choice Vouchers in Louisville, Colorado
On average, Section 8 Housing Choice vouchers pay Louisville landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Louisville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Louisville, Colorado for a two-bedroom apartment is between $1,995 and $2,439.
2024 Louisville, 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 | |
|---|---|---|---|---|---|
| Louisville, Colorado Fair Market Rent | $1,585 | $1,823 | $2,217 | $2,898 | $3,394 |
| Louisville, 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.
Louisville, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 19 |
|---|---|
| Total Low Income Apartments | 483 |
| Total Housing Units with Rental Assistance | 43 |
| Percentage of Housing Units Occupied By Renters | 27.73% |
| Average Renter Household Size | 2.13 |
| Average Household Size | 2.44 |
| Median Household Income | $91,230 ±$8,603 |
| Median Rent | $1,417 ±$104 |
| Percentage Of Renters Overburdened | 53.26% ± 8.98pp |
| Total Population | 19,548 |
Population and Household Demographics
Louisville is a city in Boulder County, Colorado with a population of 19,548. There are 7,971 households in the city with an average household size of 2.44 persons. 27.73% of households in Louisville are renters.
Income and Rent Overburden in Louisville
The median gross income for households in Louisville is $91,230 a year, or $7,603 a month. The median rent for the city is $1,417 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Louisville, a household making less than $4,723 a month would be considered overburdened when renting an apartment at or above the median rent. 53.26% of households who rent are overburdened in Louisville.
Area Median Income In Louisville
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 Louisville, the AMI is calculated from all households within Boulder County.
In Louisville, 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 Louisville
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 Louisville
| 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 Louisville 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 Louisville 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 Louisville 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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