#110 DOLA TM COLORADO Department of Local Affairs Division of Housing Homelessness in Colorado Kristin Toombs, Director, Office of Homeless Initiatives September 21, 2021#2DOLA COLORADO Department of Local Affairs Division of Housing Office of Homeless Initiatives: The Playbook MAKING HOMELESSNESS HISTORY IN COLORADO THE VISION Our vision is that everyone in Colorado has a safe, stable, and affordable place to live. We can create a future where homelessness is rare and brief when it occurs, and no one gets left behind. Leading Causes Lack of Affordable Housing Health Challenges Systemic Inequities The Need ~10,000 PIT 23,000+ Students 53,000+ Medicaid Outcomes 85% Stay Housed Reduced Costs Proven Solutions Prevention/Diversion Coordinated Efforts Housing-Focused Outreach Low-Barrier Shelter Housing + Services DOLA COLORADO Department of Local Affairs Emergency Room Visits decreased Hospital Days decreased 24%-34% 27%-29% Psych Admissions decreased 82%-87% Medicaid Costs decreased 41%-67% Justice Involvement decreased 42%-45% Stable Housing achieved 79% -93% + ID#3Leading Causes of Homelessness Lack of Affordable Housing • Leading cause of homelessness is economic: housing costs are higher than income. McKinsey & Co. reports highest correlation to homelessness is increasing rent. . $27.50 = Hourly wage needed to rent a 2 bedroom in CO, ranking us 9th most expensive in the country. Denver is 2nd only to San Francisco for gentrification. . • Many households loose income when fleeing violence, household conflict, or sudden crisis. . Many are working and still homeless. Health Challenges . • . 40% have a disabling condition. 55% of families self-report having experienced trauma in Denver Area. Medical care costs are #1 reason for bankruptcy in US. People experiencing homelessness disproportionately overdose in CO. 84% unsheltered self-report physical health condition in US. Denver saw a 90% increase in overdose for people living outside in 2021 compared to 2020. Homelessness itself causes trauma. For some, behavioral health needs are part of the cause of homelessness. Regardless of which led to the other, evidence shows pairing housing and services is the most effective solution. Systemic Inequities • 57% of individuals are BIPOC, in Denver. . . . 40% of youth are LGBTQA+ & 40% were in Foster Care, nationally and in CO. BIPOC & LGBTQA+ are disproportionately homeless. Households headed by single mothers of color make up the largest percentage of evictions in the US. TM#4Leading Causes of Homelessness Fair-market rent (FMR) and homeless population in King County Number of homeless, point-in-time count Rent, $ for studio unit 1,200 1,000 800 600 400 12,000 10,000 8,000 6,000 4,000 200 2,000 7,902 8,501 8,952 9,022 8,972 8,899 9,106 8,949 10,122 10,730 11,643 0 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 TM#5FACTS ABOUT COLORADO: STATE FACTS Minimum Wage $12.32 Average Renter Wage $20.42 2-Bedroom Housing Wage $27.50 Number of Renter Households 747,259 Percent Renters 35% 89 Work Hours Per Week At Minimum Wage To Afford a 2-Bedroom Rental Home (at FMR) 2.2 Number of Full-Time Jobs At Minimum Wage To Afford a 2-Bedroom Rental Home (at FMR) 72 Work Hours Per Week At Minimum Wage To Afford a 1-Bedroom Rental Home (at FMR) 1.8 Number of Full-Time Jobs At Minimum Wage To Afford a 1-Bedroom Rental Home (at FMR) HOUSING Two bedroom FMR MOST EXPENSIVE AREAS Boulder MSA WAGE One bedroom FMR $1430 $1154 $33.15 Rent affordable at area median income (AMI) $2375 Eagle County $32.98 Rent affordable with full-time job paying mean renter wage $1062 MSA Metropolitan Statistical Area: HMFA HUD Metro FMR Area. Pitkin County Summit County Denver-Aurora-Lakewood MSA *Ranked from Highest to Lowest 2-Bedroom Housing Wage. Includes District of Columbia and Puerto Rico. OUT OF REACH 2021 | NATIONAL LOW INCOME HOUSING COALITION $32.90 Rent affordable at 30% of AMI $712 $30.90 $30.87 Rent affordable with full-time job paying minimum wage Rent affordable to SSI recipient $641 $250 $0 $500 $1000 $1500 $2000 $2500 CO-44#6Need: By the Faces Seniors Families Youth Veterans Those w/ a disabling condition Fleeing Domestic Violence TM#7Need: CO by the Numbers 9,846 People in shelters, transitional housing, or unsheltered one night in Jan. 4,553 Shelter; 2,913 Unsheltered; 2,380 Transitional Housing 2,954 Chronic; 2,795 SMI; 2,339 SUD; 1,004 Vet; 937 DV; 634 Youth (2020 HUD Point in Time Count) 14,600+ Individuals estimated to need housing units with services in CO. (2019 CSH) 21,420 Students experiencing homelessness, doubled-up, or unstably housed. (2019-20 school year, McKinney-Vento liaisons) 53,000+ Individuals without stable housing covered by CO Medicaid. (2019 HCPF Medicaid data) 10 TM#8The Need: Non-Metro Area TM El Paso County 1,339 Total 943 Total Single Individuals 396 Total People in Families 621 Total Sheltered 358 Total Unsheltered 360 Total Transitional Housing 284 Total Chronically Homeless 157 Total Veterans 88 Total Youth Larimer & Weld Counties 765 Total 591 Total Single Individuals 174 Total People in Families 496 Total Sheltered 196 Total Unsheltered 73 Total Transitional Housing 207 Total Chronically Homeless 69 Total Veterans 53 Total Youth Balance of State 1,638 Total 1,375 Total Single Individuals 263 Total People in Families 525 Total Sheltered 798 Total Unsheltered 315 Total Transitional Housing 284 Total Chronically Homeless 191 Total Veterans 156 Total Youth PPCOC Pikes Peak Continuum of Care A PROGRAM OF Ch Northern Colorado Continuum of Care COLORADO COALITION Homeless Cei asting lutions Source: HUD 2020 PIT#9The Need: Metro Denver Area Boulder, Broomfield, Adams, Arapahoe, Denver, Douglas, Jefferson Counties 6,104 Total 4,650 Total Single Individuals 1,454 Total People in Families 2,911 Total Sheltered 1,561 Total Unsheltered 1,632 Total Transitional Housing 284 Total Chronically Homeless 627 Total Veterans 328 Total Youth Denver Spotlight: . 13% of state general population. . 45% of shelter beds. . 35% of people in shelters are not from Denver. MDHI Source: HUD 2020 PIT; Denver HOST TM#10Homelessness & COVID-19 Spotlight: Denver Metro Area The Metro Denver Jan. 2021 PIT shows a 22% increase in shelter since Jan. 2020 (5,530 from 4,543). Family sheltered homelessness increased by 10% Individual sheltered homelessness increased by 27% 18% of the sheltered population (1,035 of the 5,530) were chronically homeless, while there was a doubling of the number of people experiencing homelessness for the first time. Veteran sheltered homelessness decreased by 10%. There has been a focused effort on reducing Veteran homelessness through the Built for Zero initiative. People experiencing homelessness have been disproportionately impacted by the pandemic.#11Dynamic Numbers - CO Cohort Actively Homeless Number 965 966 888 138 135 110 -166 -183 848 838 CO Cohort Inflow / Outflow 133 -177 -187 INFLOW iiii ACTIVELY HOMELESS iiiiii INFLOW: Newly INFLOW: Returned from identified housing 157 -157 862 803 474 149 131 72 -181 OUTFLOW INFLOW: Returned from inactive OUTFLOW: Housing placements OUTFLOW: Moved to inactive OUTFLOW: No longer meets population criteria -93 -50#12DOLA COLORADO Department of Local Affairs Division of Housing MAKING HOMELESSNESS HISTORY IN COLORADO THE VISION Our vision is that everyone in Colorado has a safe, stable, and affordable place to live. We can create a future where homelessness is rare and brief when it occurs, and no one gets left behind.#13PROVEN SOLUTIONS PREVENTION & DIVERSION Programs that identify people at high risk of homelessness and provide supports that can help them to avoid it can help reduce the number of people entering homelessness. ANTI-POVERTY SUPPORTS Programs that provide non-housing support to families living in poverty (e.g. childcare, health benefits, etc.) can help lessen the overall cost burden for people at risk of homelessness. COORDINATED ENTRY SYSTEMS Standardized and coordinated systems of care over a given geographic area can help ensure that homelessness services are provided equitably, efficiently, and effectively. STREET OUTREACH Street outreach programs can help to identify and help people who feel unsafe or otherwise unable to come into traditional shelters. LOW-BARRIER SHELTERS Shelters without restrictive entry requirements can help keep people safe while they work with the system to identify resources and next steps. RAPID RE-HOUSING Providing families and some individuals experiencing homelessness with steeply declining subsidies for market-rate rental housing can help resolve an immediate financial crisis. SUPPORTIVE HOUSING For individuals with severe physical or mental health needs, providing heavily subsidized homes with live-in health support services can help to ensure those individuals stay safe, stable, and secure. AFFORDABLE RENTAL HOUSING Ensuring that a given geographic area has enough affordable rental housing to meet its population's needs can help prevent families & individuals from falling into homelessness. HOME OWNERSHIP SUPPORTS Providing opportunities for low- and middle- income families to purchase homes can help protect these families against rent increases and gentrification that can cause homelessness.#14Spotlight Example Fremont County, CO reaches functional zero for veteran homelessness Veterans experiencing homelessness 10 5 Functional zero threshold: 3 0 MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NOV. DEC. JAN. FEB. MAR. APR. 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2021 2021 2021 2021 How Did They Get there? ★ Quality Data Supportive Housing * Outreach and Emergency Services Housing Navigation * Local Coordination & Support TM#15Emergency Room Visits decreased 24% - 34% H Why Prioritize Permanent Housing + Services Hospital Days decreased Psych Admissions decreased Medicaid 27% - 29% 82% - 87% Costs decreased 41% - 67% + Justice Involvement decreased 42% - 45% Stable Housing achieved 79% - 93% Source: Corporation for Supportive Housing (CSH) 85% Stay Housed in DOH programs Example: DOH Re-entry BH housing programs With Services = 95% Housing Stability Without Services = 47% Housing Stability#16Empty#17TM Division of Housing Federal and State Stimulus Funds COLORADO DOLA Department of Local Affairs TM Andrew Paredes Director Office Housing Finance and Sustainability#18ARPA Recovery, What we Know Affordable Housing and Home Ownership $500M for housing ⚫ HB21-1329 appropriates $98.5M to DOH immediately. • • $1.5M Eviction Legal Defense Fund Interim task force to determine $400M $305M additional Emergency Rental Assistance to continue ERAP $175M Homeowner Assistance Fund 1,023 Emergency Housing Vouchers $66M HOME ARP funds DOLA TM COLORADO Department of Local Affairs 229 SVZ 812 248 SEZ ME LEZ 243 SID PL EL O 919 ZIP 220 τις One 61P 212 SIZ 917 OLT PLZ#192021 State Stimulus Bills New Funding SB21-242 Housing Development Grants Hotels Tenancy Support Program ($30M). Program Description This program provides funds to DOLA to support the purchase of underutilized hotels/motels for affordable housing or to lease rooms in these properties for those in need of affordable housing, including individuals experiencing homelessness. Short term loans to quickly acquire property Low interest / no payments Acquisition loan will be paid off upon closing of perm financing Perm financing is eligible to use DOH gap funds NOFA to be released September 2021. HI New Funding DOLA Innovative Affordable Housing Strategies ($48M). Program Description Incentivize local governments to adopt land use policies which promote the creation of affordable housing. Provide grants to local governments to create and make use of new land use policies which promote the creation of affordable housing. Provide funding for local communities to go through a DOLA housing development toolkit to help them conceive of, plan for, construct and operate new housing. HB21-1271 COLORADO DOLA Department of Local Affairs TM#20HB21-1329 - Initial ARPA Housing funds ($98.5M) $ Acquisition Fund Up to $35M available for property acquisition. Short term, low interest loans Eligible Properties Land Existing residential Existing other use Funds to be repaid with perm financing Investment Funds Up to $70M available to invest in existing affordable housing funds. DOH to loan capital into non-profits, CDFIs, traditional financial institutions, affordable housing investment funds. DOH funds to leverage affordable housing financing already being undertaken by these partner funds. LIHTC Supplemental Grants Up to $25M to grant alongside CHFA Round 1 (9%) LIHTC awards Intended to stretch the 9% LIHTC resource to more projects Awarded to projects as a grant Project/applicant still eligible for traditional DOH gap funding as needed Intended as an optional resource for LIHTC applicants TM DOLA COLORADO Department of Local Affairs#21Housing Recovery Office Oversee Emergency Rental Assistance and Homeowner Assistance Funds Welcome Office Director, Sarah Buss Watch for additional position announcements: Program Managers for Rental and Homeownership Budget Analysts Program Assistants DOLA TM COLORADO Department of Local Affairs OV#22Evolution of Renter Relief Programs Emergency Housing Assistance Program (EHAP) Ran from April 2020 through March 2021 Served renters and homeowners Tenants applied for assistance Households must have earned less than 80-100% AMI, experienced financial hardship due to the economic disruption caused by COVID-19. Property Owner Preservation Program (POP) Ran from August 2020 through February 2021 Served renters Rental Property owners and mobile home parks apply directly online to DOH Program-specific HAP contract executed to receive payment in arrears Residents must attest to financial hardship Emergency Rental Assistance Program (ERAP) Runs from March 2021 through 2024 Serves renters Owners, managers, and tenants may all apply Can also fund housing stability services Households up to 80% AMI DOLA TM COLORADO Department of Local Affairs#23State and Local Fiscal Recovery Fund U.S. Department of the Treasury American Rescue Plan: State and Local Fiscal Recovery Funds (SLFRF) $5,498,619,650 Counties $1,118,566,954 Municipalities $551,290,906 Adams $100,502,964 Alamosa $3,153,070 Conejos $1,593,725 Costilla $755,004 Fremont $9,929,165 La Plata $10,920,270 Morgan $5,646,118 Routt $4,979,881 Arvada $11,075,818 Grand Junction $10,484,608 Arapahoe $127,534,910 Crowley $1,177,278 Garfield $11,666,145 Gilpin $1,212,630 Lake $1,578,574 Otero $3,550,287 Saguache $1,325,482 Aurora $65,424,806 Greeley $20,991,595 Larimer $69,323,447 Ouray $961,868 San Juan $141,405 Overview Archuleta $2,724,949 Custer $984,400 Grand $3,056,145 Las Animas $2,817,620 Park $3,660,420 San Miguel $1,588,675 Baca $695,567 Delta $6,052,853 Gunnison $3,391,789 Lincoln $1,107,352 Phillips $828,426 Sedgwick $436,648 Bent $1,083,267 Denver $141,252,212 Hinsdale $159,275 Logan $4,352,686 Pitkin $3,451,031 Summit $6,023,523 Centennial $8,489,546 Boulder $63,359,749 Dolores $399,160 Huerfano $1,339,661 Mesa $29,953,485 Prowers $2,364,268 Teller $4,931,321 Colorado Springs $76,039,132 Broomfield $13,687,000 Douglas $68,207,548 Jackson $270,380 Mineral $149,369 Washington $953,321 $1,884,111 Chaffee $3,953,914 Cheyenne $355,650 Clear Creek El Paso $139,929,837 Elbert $5,191,795 Eagle $10,707,773 Jefferson $113,217,801 Moffat $2,580,067 Kiowa $273,099 Montezuma $5,085,741 Pueblo $32,714,388 Rio Blanco $1,228,363 Rio Grande $2,188,483 Weld $63,028,767 Yuma $1,946,073 Denver $166,796,658 Fort Collins $28,118,971 $14,548,323 Boulder $20,153,269 Broomfield $7,040,034 Castle Rock $5,703,100 Commerce City $10,505,025 Lakewood $21,581,066 Longmont $12,973,267 Loveland $9,504,879 Parker $4,452,437 Pueblo $36,407,001 Thornton $21,001,371 Westminster Kit Carson $1,378,509 Montrose $8,305,240 DOLA TM COLORADO Department of Local Affairs Colorado $3,828,761,790#24Housing-Related Relief Funding Overview Funding Source Agency Program Purpose SLFRF Unknown Agencies CEO DLG U.S. Treasury DOH HUD TM DOLA COLORADO Department of Local Affairs Unallocated SLFRF Unknown Purpose $400M Weatherization Assistance Program AH Development Incentive Grant Program Planning Grant Program Community Revitalization Grant Program Revitalizing Main Streets Affordable Housing Guided Toolkit Program Sustainability $65M Community Planning $46M Community Development $ 95M Emergency Rental Assistance Rental Assistance $728M Emergency Housing Voucher Program Homeowner Assistance Fund Affordable Housing Investment Funds LIHTC Supplemental Grants Operation Turnkey Homeowner Assistance $175M Housing Development & Preservation $95M Homelessness $85M HOME-ARP#2510 TM DOLA COLORADO Department of Local Affairs Andrew Paredes Director DOH Office of Housing Finance and Sustainability [email protected] 303-864-7822 www.colorado.gov/dola https://edola.colorado.gov/housing-covid 19#26TM The Landscape of Colorado's Housing Needs Connor Everson, Manager Analysis and Research Team CO DOLA COLORADO Department of Local Affairs TM#27Outline 1. What Housing Needs do Coloradans Have? 2. Who Needs Affordable Housing? 3. Where is Affordable Housing Needed? 4.What Housing is Needed? TM COLORADO DOLA Department of Local Affairs#28TM DOLA COLORADO Department of Local Affairs What Housing Needs do Coloradans Have?#29Residual Income for Households Earning $0-$50k in CO, 2019 Not Cost Burdened (0%-30% Income on Housing) $ I Mild/Moderate Cost Burden (31%-50% Income on Housing) $ $ Severe Cost Burden (50%+ Income on Housing) DOLA TM $ $ $ ($ $ $ $ $ $ $ $ ($ $ $ $ ($ $ $ $1,900 COLORADO Department of Local Affairs 0 0 0 0 0 0 0 0 0 $ $ $ $ $ $1,400 $200#30DOLA TM COLORADO Department of Local Affairs Who Needs Affordable Housing?#31Housing Needs - Overall DOLA TM Households Spending Over 50% of Income on Housing by Demographic Category, Colorado 2019 In Labor Force 194K Senior 71K Households 8K 194K Disabled 22K Students 8K Other 20K Source: Department of Local Affairs, Division of Housing tabulations of U.S. Census Bureau American Community Survey 1-Year Estimates for 2019, dataset provided by IPUMS USA, University of Minnesota, www.ipums.org. Notes: All categories are mutually exclusive. Households with 1 or more person in the labor force are considered "In Labor Force", households with 1 or more persons aged 62 or over are "Senior", households receiving Supplemental Security Income are "Disabled", households with one or more students are "Student", households that do not match the above criteria are "Other". All households are bucketed into these categories in a descending fashion. COLORADO Department of Local Affairs#32Housing Needs Occupations - Cost Burden Rate of Selected Occupations in Colorado by Cost Burden Level, 2019 Occupation Firefighters Secondary School Teachers Police Officers and Detectives Elementary and Middle School Teachers Special Education Teachers Construction workers, nec Preschool and Kindergarten Teachers Licensed Practical and Licensed Vocational Nurses Childcare Workers Janitors and Building Cleaners Cashiers Waiters and Waitresses Dishwashers Laundry and Dry-Cleaning Workers Cross-Occupation Average 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% % of Total Persons Source: Department of Local Affairs, Division of Housing tabulations of U.S. Census Bureau American Community Survey 5-Year Estimates for 2015-2019, dataset provided by IPUMS USA, University of Minnesota, www.ipums.org. COLORADO DOLA Department of Local Affairs TM Cost Burden Mild/Moderately Cost Burdened Severely Cost Burdened#33Housing Needs - Seniors Senior Cost Burden by Mortgage Status Owned Free and Clear 252K Mortgage Being Paid Off 193K DOLA TM Renter 64K Cost Burden Mortgage Being Paid Off Renter 37K 60K Owned Free and Clear 18K Mortgage Renter Being Paid Off 43K 46K Owned Free and Clear Source: Department of Local Affairs, Division of Housing tabulations of U.S. Census Bureau American Community Survey 1-Year Estimates for 2019, dataset provided by IPUMS USA, University of Minnesota, www.ipums.org. COLORADO Department of Local Affairs Not Cost Burdened Mild/Moderately Cost Burdened Severely Cost Burdened#34DOLA TM Percent of Households Percent of U.S. Households Not Caught Up on Rent or Mortgage by Race/Ethnicity,Age, and Income Early January 2021 Race/Ethnicity 20% 18% 16% 14% 12% 10% 8% 6% 4% 2% Percent of Households Age Group 20% 20% 18% 18% 16% 16% 14% 12% 10% 8% Percent of Households 14% 12% 10% 8% 6% 6% 4% 2% 4% 2% Income Group 0% 0% 0% Black/ Hispanic, Other/ African any race Multi- American Asian White, 18-44 45-64 65+ non- Less than $25,000 $25,000 $35,000 $34,999 $49,000 Racial Hispanic COLORADO Department of Local Affairs $50,000 $75,000+ $74,999#35DOLA TM COLORADO Department of Local Affairs Where is Affordable Housing Needed?#36Housing Affordability - Ownership Estimated Income Required to Purchase Median Sale Price Home as Percent of Area Median Income by County, 2021 90% 110% 150% 60% 80% 90% 220% 140% 130% 80% 120% AMI to Afford Median Fo.. 60% 300% 210% 190% 80% 150% 180% 160% 180% 290% 250% 140% 150% 120% 100% Historical Income To Afford Median Home as % of AMI 730% 180% 150% 160% 110% (2010) 140% 150% 160% 140% 60% 250% 220% Metro 80%- 140% 180% 230% 390% 180% 160% 130% 150% 150% 150% 140% 180% 210% 230% 140% Areas 100% 80% 190% 140% 190% 80% 120% 70% Resort 120%- Areas 250% 180% 150% 210% © 2021 Mapbox © OpenStreetMap Source: Department of Local Affairs, Division of Housing tabulations of data provided by U.S. Census Bureau Small Area Income and Poverty Estimates Program 2019 and Colorado Association of Realtors. Data includes year-to-date home sales as of September 2021. COLORADO DOLA Department of Local Affairs TM#37Housing Affordability - Rentals Income Required to Rent Median Apartment as Percent of Median Renter Income by County, 2021 Income to Rent Apartme.. 70% 139% 109% 80% 91% 96% 135% 106% 118% 112% 103% 109% 105% 148% 77% 95% 138% 113% 129% 157% 135% 101% 131% 130% 99% 142% 126% 135% 229% 112% 153% 126% 118% 125% 127% 126% 139% 153% 72% 138% 108% 120% 72% 133% 140% 148% 149% 141% 143% 138% 100% 94% 110% 148% 193% 127% 139% 154% 120% 137% 108% 136% 164% 103% © 2021 Mapbox © OpenStreetMap Source: Department of Local Affairs, Division of Housing tabulations of U.S. Department of Housing and Urban Development 2021 Median Rents for 2-bedroom units and U.S. Census Bureau Small Area Income and Poverty Estimates Program 2019. COLORADO DOLA Department of Local Affairs TM 200%#38DOLA TM COLORADO Department of Local Affairs What Housing is Needed?#39DOLA TM Housing Units in Colorado by Income Affordable To, Unit Type, and Year Housing Stock - Trends 1600K 1400K COLORADO Department of Local Affairs Units 1200K 1000K 800K 600K 400K Under $15,000 200K 105K 83K 196K $15,000 $29,999 Income Bracket / Year $30,000 $44,999 105K 410K 224K $45,000 - $74,999 666K 611K $75,000 and over 953K 1,560K OK 2010 2019 2010 2019 2010 2019 2010 2019 2010 2019 Source: Department of Local Affairs, Division of Housing tabulations of U.S. Census Bureau American Community Survey 1-Year Estimates for 2010 and 2019, dataset provided by IPUMS USA, University of Minnesota, www.ipums.org. Incomes and housing costs from 2010 inflated to 2019 real dollars using Consumer Price Index for All Urban Consumers, All Items in U.S. City Average provided by U.S. Bureau of Labor Statistics, republished by Federal Reserve Bank of Atlanta, FRED. Notes: Much of the increase in home-ownership units affordable at and above $75,000 in household income (about 340k) is likely due to home price appreciation and loss of stock affordable at low income levels, while about 190k is from new construction.#4010 TM DOLA COLORADO Department of Local Affairs#41DOLA TM COLORADO Department of Local Affairs Appendix#42DOLA TM Residual Income for Households Earning $0-$25k Not Cost Burdened (0%-30% Income on Housing) $ $ $ Mild/Moderate Cost Burden (31%-50% Income on Housing) $ Severe Cost Burden (50%+ Income on Housing) @ @ @ @ @ @ @ @ 01 COLORADO Department of Local Affairs 0 0 0 0 0 0 0 0 $#43Residual Income for Households Earning $25-$50k Not Cost Burdened (0%-30% Income on Housing) Mild/Moderate Cost Burden (31%-50% Income on Housing) Severe Cost Burden (50%+ Income on Housing) $ $ $ $ $ $ $ $ $ $ $ $ ($ $ $ $ ($ $ $ $ $ $ ($ $ $ $ $ $ $ $ $ $ $ @ @ @ @ @ @ @ @ @ @ $ $ $ $ $ 0 0 0 0 0 0 0 0 0 DOLA TM $ COLORADO Department of Local Affairs#44DOLA TM Residual Income for Households Earning $50-$75k Not Cost Burdened (0%-30% Income on Housing) Mild/Moderate Cost Burden (31%-50% Income on Housing) Severe Cost Burden (50%+ Income on Housing) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ ($ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ ($ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ ($) COLORADO Department of Local Affairs#45Housing Needs Workforce - Percent of Workers by Cost Burden Category and Sector, Colorado 2019 Estimates Industry Arts, Entertainment, and Recreation, and Accommodation and Food Services Educational Services, and Health Care and Social Assistance 68% 75% 15% 14% 3% 14% 9% Finance and Insurance, and Real Estate, and Rental and Leasing Information Manufacturing Other Services, Except Public Administration 68% Professional, Scientific, and Management, and Administrative, and Waste Man.. Public Administration Retail Trade 69% Transportation and Warehousing, and Utilities Wholesale Trade 0% 25% 79% 79% 78% 78% 72% 81% 76% 50% 13% 7% 13% 6% 15% 6% 17% 13% 75% 13% 8% 14% 4% 17% 12% 15% 10% 14% 7% % of Total Persons Source: Department of Local Affairs, Division of Housing tabulations of U.S. Census Bureau American Community Survey 1-Year Estimates for 2019, dataset provided by IPUMS USA, University of Minnesota, www.ipums.org. COLORADO DOLA Department of Local Affairs TM 100% Cost Burden NA Severely Cost Burdened Mild/Moderately Cost Burdened Not Cost Burdened#46DOLA TM Housing Needs - Income Renter Households Experiencing Housing Cost Burden in Colorado by Income, Year, and Cost Burden Level (real dollars) Under $15,000 $15,000 - $29,999 Income Bucket / Year $30,000 $44,999 $45,000 - $74,999 $75,000 and over 100% 90% 80% COLORADO Department of Local Affairs % of Total Households 70% 60% 50% 40% 30% 81% 76% 42% 54% 10% 20% 40% 28% 10% 11% 7% 0% 2010 2019 2010 2019 26% 52% 47% 2010 2019 4% 36% 24% 2010 5% 6% 2019 2010 2019 Source: Department of Local Affairs, Division of Housing tabulations of U.S. Census Bureau American Community Survey 1-Year Estimates for 2010 and 2019, dataset provided by IPUMS USA, University of Minnesota, www.ipums.org. Incomes and housing costs from 2010 inflated to 2019 real dollars using Consumer Price Index for All Urban Consumers, All Items in U.S. City Average provided by U.S. Bureau of Labor Statistics, republished by Federal Reserve Bank of Atlanta, FRED. Cost Burden Severely Cost Burdened Mild/Moderately Cost Burdened#47Housing Affordability - Ownership Ratio of Median Home Sale Price to Median Income by County, 2021 4.3 3.7 6.1 2.5 3.3 3.8 8.7 5.4 5.2 3.3 5.0 Ratio of Home Price to.. 2.0 10.0 8.5 7.8 5.5 3.1 6.0 7.2 6.5 7.2 11.5 9.9 5.5 6.0 Historical Ratio Levels (2010) 4.9 4.2 7.3 29.1 6.2 5.4 6.1 6.3 5.7 10.1 8.7 5.5 6.2 Metro 3-4 4.5 Areas 2.3 Resort 5-10 7.5 7.4 9.0 15.6 7.0 6.3 5.1 6.0 7.1 6.2 6.1 5.9 5.6 7.1 5.6 8.3 8.4 9.3 3.2 Areas 5.4 7.4 3.1 4.8 2.6 © 2021 Mapbox © OpenStreetMap Source: Department of Local Affairs, Division of Housing tabulations of data provided by U.S. Census Bureau Small Area Income and Poverty Estimates Program 2019 and Colorado Association of Realtors. Data includes year-to-date home sales as of September 2021. COLORADO DOLA Department of Local Affairs TM#48Housing Stock - Senior Focus Senior Households by Count of Excess Bedrooms, 2019 Households 340K 320K 320K 300K 280K 260K 240K 220K 200K 180K 160K 140K 117K 120K 100K 80K 60K 40K 20K OK 1 146K 2 Excess Bedrooms 117K 3 37K 4 9K 2K 5 6 Source: Department of Local Affairs, Division of Housing tabulations of U.S. Census Bureau American Community Survey 1-Year Estimates for 2019, dataset provided by IPUMS USA, University of Minnesota, www.ipums.org. COLORADO DOLA Department of Local Affairs TM