Coloradans Priced Out of Housing as Costs Outpace Earnings

By Spencer Kristensen | KDVR Fox 31

DENVER (KDVR) — A report from the Common Sense Institute, a conservative-leaning research organization, revealed that the majority of Colorado residents are being priced out of the opportunity of owning a home.

The report called “Colorado’s Housing Affordability Mismatch” was created by CSI’s Chief Economist Steven Byers and states that it analyzes the growing disparity between what Coloradans can afford and what’s actually available in the housing market.

The report listed several findings, including:

• 60% of households in Colorado cannot afford the average home in the state, which is an increase from the 2010 figure of 47%
• 40% of households can only afford homes under $300,000, which accounts for only 15% of the houses statewide
• Colorado is the ninth-worst in the United States for housing affordability mismatches
• Every major county is affected by the pricing, with Larimer County facing the worst mismatch at 80%
• No county was in the minority of affordability, but the two lowest were Denver at 60.8% and Pueblo at 62.5%

“This is not just a housing issue — it’s an economic competitiveness issue,” said Byers, in a press release. “The shortage of homes in affordable price ranges, combined with high interest rates and soaring home values, threatens Colorado’s ability to attract and retain families, workers, and employers.”

READ THE FULL ARTICLE AT KDVR FOX 31