Page 16 - 2018 CHFA Community Report

affordability

gap

CHFA, and our work to meet our mission,
must continue to reach new heights.
The need for affordable housing has
come to the forefront of top issues facing
communities all throughout Colorado.
The gap between housing costs and
income is evident and has been growing.
Without a market correction, the gap is
expected to remain or widen within the
next three years.

income needed to rent or
*
own affordably

median income of
all colorado renters

$1,381
income needed to
afford median rent
colorado median rent

income needed to
$48,449 $55,240 $91,760 family home $365,000
afford median single

colorado median

2018 *annual gross household income home price

looking ahead

While CHFA achieved much in 2018, we also began in-depth strategic planning and innovative initiatives
to address Colorado’s challenges on new levels in the years to come. Our efforts are aimed at creating and
strengthening opportunities to help Coloradans access and afford housing, grow their businesses, and be part of
strong communities. In 2019 specifically, some of our plans include:

ƒ developing and partnering on innovative housing solutions;
ƒ identifying ways to optimize our investments in local communities for greater impact; and
ƒ increasing efficiencies by investing in improved technologies to continue to meet demand.

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