A Colorado worker needs to earn about $21 to afford a modest two-bedroom apartment, according to a new report by a national affordable housing advocacy group.
The National Low Income Housing Coalition crunched federal rent and population data to reach its conclusions. The report defines a “housing wage” as how much a worker must earn to spend no more than 30-percent of their income renting a below-average apartment.
Colorado ranks 14th in the nation for highest housing wage. Outside of the cities, renters fair slightly worse. The state has the eighth-highest non-metropolitan housing age in the country.
The report finds that the average Colorado renter makes a bit more than $15 an hour, just a little less than what’s needed to afford a modest one-bedroom apartment.