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There are 260 low-income apartments in Wheat Ridge that offer reduced rents to eligible households. Low-income rents in Wheat Ridge, Colorado can range from $675 to $1,215 depending on the number of bedrooms.
Rental assistance programs support 133 low-income homes in Wheat Ridge where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $358 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 Wheat Ridge, 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 |
|---|---|
| Foothills Regional Housing | Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Mainstream Voucher |
Wheat Ridge, Colorado Affordable Housing Data
Income Based Apartments in Wheat Ridge, Colorado
Wheat Ridge features 133 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 Wheat Ridge, Colorado
There are 260 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wheat Ridge.
Housing Choice Vouchers in Wheat Ridge, Colorado
On average, Section 8 Housing Choice vouchers pay Wheat Ridge landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Wheat Ridge.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wheat Ridge, Colorado for a two-bedroom apartment is between $1,981 and $2,421.
2024 Wheat Ridge, 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 | |
|---|---|---|---|---|---|
| Wheat Ridge, Colorado Fair Market Rent | $1,658 | $1,835 | $2,201 | $2,874 | $3,225 |
| Wheat Ridge, 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.
Wheat Ridge, CO Affordable Housing Snapshot
| Total Affordable Apartment Properties | 26 |
|---|---|
| Total Low Income Apartments | 533 |
| Total Housing Units with Rental Assistance | 133 |
| Percentage of Housing Units Occupied By Renters | 47.81% |
| Average Renter Household Size | 2.09 |
| Average Household Size | 2.17 |
| Median Household Income | $47,841 ±$2,061 |
| Median Rent | $861 ±$26 |
| Percentage Of Renters Overburdened | 48.06% ± 4.97pp |
| Total Population | 30,863 |
Population and Household Demographics
Wheat Ridge is a city in Jefferson County, Colorado with a population of 30,863. There are 13,978 households in the city with an average household size of 2.17 persons. 47.81% of households in Wheat Ridge are renters.
Income and Rent Overburden in Wheat Ridge
The median gross income for households in Wheat Ridge is $47,841 a year, or $3,987 a month. The median rent for the city is $861 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wheat Ridge, a household making less than $2,870 a month would be considered overburdened when renting an apartment at or above the median rent. 48.06% of households who rent are overburdened in Wheat Ridge.
Area Median Income In Wheat Ridge
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 Wheat Ridge, the AMI is calculated from all households within Jefferson County.
In Wheat Ridge, 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 Wheat Ridge
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 Wheat Ridge
| 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 Wheat Ridge 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 Wheat Ridge 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 Wheat Ridge 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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