Colorado
Ranked #39 of 51 for housing affordability
Median Home Price
🏠$550K
5.92x income
Median Rent
🔑$1,771
33.8% rent-burdened
Median Income
💰$93K
Population: 5,877,610
Homeownership
🏡66.0%
14,439 experiencing homelessness
Housing Shortage
📉140,000
units needed
Building Permits (2024)
🔨32,185
Price-to-Income
📊5.92x
Severe Rent Burden
⚠️15.9%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1866) is above the state median rent ($1771) — vouchers cover typical rents.
Metros in Colorado
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Denver | 30 | $611K | $1,898 | $103K | 33.5% |
| Colorado Springs | 38 | $473K | $1,706 | $90K | 32.0% |
| Fort Collins-Loveland | 55 | $575K | $1,699 | $88K | 24.9% |
| Boulder | 22 | $764K | $1,915 | $95K | 34.0% |
| Greeley | 68 | $475K | $1,569 | $91K | 27.8% |
| Pueblo | 72 | $314K | $1,165 | $65K | 23.9% |
| Grand Junction | 62 | $373K | $1,184 | $65K | 22.0% |
Market Trends
Homeownership Rate
66.0%
Rent-to-Income Ratio
23.0%
of gross income spent on rent
Total Households
2,428,261
Owner-Occupied
1,594,191
Renter-Occupied
834,070
Homelessness
Latest Count (2024)
18,715
1-Year Change
+29.6%
10-Year Trend (2015–2024)
+88.0%
9,953 → 18,715
Housing Policies
Construction Activity
Total Permits (2024)
32,185
2.3% of national total
Single-Family
20,434
63% of state permits
Multi-Family
11,751
37% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
140,000
units needed
National Shortage
7,300,000
1.9% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
Colorado burden rates with national demographic breakdown
Cost-Burdened Renters
33.8%
paying >30% of income
Severely Burdened
15.9%
paying >50% of income
Households >30% Burden
209,504
Households >35% Burden
39,334