Housing Data Snapshot
The median family income in El Paso County in 2012 is $73,400 for a family of four.
- 43% of all renters cannot afford the Fair Market Rent for a two-bedroom apartment.
- 33% of households in Colorado Springs rent housing.
- Fair Market Rent for a two-bedroom apartment in Colorado Springs is $756.
- An hourly wage of $14.54 is needed to afford a two-bedroom apartment at Fair Market Rent.
For individuals earning the minimum wage ($7.64/hr.), a worker needs an income equaling
60 hours of work per week in order to earn the Fair Market Rent for a one-bedroom apartment.
As of September 2012, the Colorado Springs Housing Authority has approximately 3,300 families on its Section 8 waiting list for housing. Families who applied in October 2010 are currently being served through a lottery system. The waiting lists for Section 8 and Public Housing are closed at this time.
DATA SOURCES:
Colorado Division of Housing, National Low-Income Housing Coalition, Colorado Springs Housing Authority, Housing & Urban Development
http://www.huduser.org/portal/datasets/il/il12/index_mfi.html
