Members of the Colorado Housing Affordability Project (CHAP) presented 8 policy recommendations to address key elements pushing housing costs beyond the capacity of an expanding cross-section of our communities. To highlight the need for action, relevant statistical data and research demonstrated:
- Statewide median income has increased 63% between 2000 and 2019; Median rent has increased 104% while median home price has increased 146% within the same time frame.
- Renters at every income level are increasingly paying more than 30% of gross income for housing, not just among low-income households.
- In 2010, the statewide median home price was 4.4 times median household income; in 2020 that ratio was 5.2 and by 2030 it is expected to reach 6.2 times.
- Land use regulations and development review processes are a major drivers of housing cost.
The overriding message revolves around regional cooperation to gain efficiencies and minimize conflicts while creating greater connectivity between jobs, housing and public amenities. The eight recommendations are not presented as potential legislation, but rather voluntary initiatives communities should consider in order to lower the financial, administrative and physical barriers to expanding our inventory of housing available to households across the income spectrum.
Review the proposal here. Our Platform – Colorado Housing Affordability Project (cohousingaffordabilityproject.org)
The next partnership meeting is scheduled for Friday, April 16. Visit https://nocohousingnow.org/ for more information and to get involved.