Some details on Lyons affordable housing, and statistics

SUMMIT AFFORDABLE HOUSING –
The units now have a name: Lyons Valley.

Some people are calling them Townhomes; but, according to Kay Sparks (Housing & Human Services Commission): All are rentals, both the four four-plexus that are the townhomes, and the 24 free standing homes (2 and 3 bedrooms)

Resident Zann Avery posted on Lyons Happenings/Facebook: the least expensive units, the 2 bedroom apartment “townhomes” cost almost $1600 monthly(1591?) and require one adult to make between a $47,000ish to $52,000ish a year to qualify. The required income etc. goes up for more people and larger units. (NOTE, we have not been able to confirm this due to town personnel being out of town; but other people who went to the “practice session” for applying stated similar figures. You can see our detailed “Summit Groundbreaking” ARTICLE.)

Note,
the other 2023 proposed affordable housing on Evans Street is will also be in that range of lease fees. (See our ARTICLE for details). The rent may be between $1,067 and $1,500, based on income and final method of calculation.

Some statistics to consider

Affordable Housing – Creating greater housing affordability across the state of Colorado is a top policy concern this year. As of 2021, 80% of Coloradans live in a county with an aggregate housing supply shortage. As a result, home affordability has decreased by 85% since 2015. As of 2022, Colorado is the 8th-most unaffordable state for renters in the country. (per Colorado Sense Institute).

===SALARIES
Teachers make between $39,000 and $82,000
(per teacher jobs web site – Colorado.teach.org)
Colorado’s typical teacher salary is around $60,000, and most teacher salaries are on the rise.

Customer service managers at the bottom 10% make roughly $35,000 a year, while the top 10% makes $105,000. (according to Zippia job site)

===AVERAGE RENT
the average rent in BOULDER County for TWO Bedroom is $1,720 vs the 1,591 mentioned above.
The landlord does not decide on the price; it’s a calculation for “affordable housing” that they must follow. (see our ARTICLE)

In Boulder (city), the average rent for a two bedroom ranges between $2,335 and $2,470 depending on which rental web site you search.

In Longmont, the average rent is $2,024 for a 2-bedroom ($1,720 for a 1-bedroom). Prices and are now up 2.1% year-over-year, but down in March.  (according to ApartmentList.com 3/15/23; Demographic data: Census Bureau American Community Survey)

===HOUSE PRICES / SALES
HOUSE PRICES are falling by .2% — the first time in more than a decade –ending more than a decade of year-over-year increases, the longest on record. The median price of a US home was lower this February than it was in February 2022. The median price is $363,000.(according to a National Association of Realtors report released this week) Last April DENVER reached an all-time high of $680,000 for a single-family home. Since then the prices have been dropping approximately $10,000 less each month.

HOUSE SALES: After the U.S. Federal Reserve began tightening interest rates last spring, home sales had consistently slowed and prices consistently came down. But, February reports show that Home SALES are up more than 14% — the first increase in a year. Denver is in a seller’s market, according to Denver Metro Association of Realtors,

Housing Market – 31.2% are making CASH offers! The 30 year loan is 7.06%. RedFin advises to be pre-approved to get the best offer.