Minimum wage workers in Colorado must work 82 hours a week—two full-time jobs—to afford a modest one-bedroom apartment, according to a new report by the National Low-Income Housing Coalition.
The report reveals a growing crisis: only 26 affordable units exist for every 100 low-income households in the state. Most new housing developments cater to wealthy buyers and investors, leaving low- and middle-income families priced out.
Cathy Alderman, chief communications and public policy officer at the Colorado Coalition for the Homeless, said the findings highlight an urgent need to build more accessible housing.
“We can’t just keep building luxury or market-rate units that even moderate-income households can’t afford,” Alderman said.
The report blames decades of underfunding public housing for a nationwide shortage of over 7 million affordable homes. Colorado is no exception. Even in the state’s most affordable areas, lower-income renters are still struggling to keep up with rising rents. The most expensive counties—Summit, Eagle, and Pitkin—along with Metro Denver, are completely out of reach for most working families.
Alderman also criticized the Trump administration’s push to slash the U.S. Department of Housing and Urban Development’s budget by 44%, including funding for affordable housing development and rental assistance.
“Rental assistance is often the only way low-wage earners can bridge the gap between what they make and what housing actually costs,” she added.
While Colorado’s statewide minimum wage is $14.81 ($18.81 in Denver), the report says a full-time worker would need to earn $36.79 an hour to afford a modest two-bedroom apartment without spending more than 30% of their income on housing.
Alderman emphasized the need for state and local leaders to invest more aggressively in affordable housing to prevent more families from slipping into homelessness.
“Even with wage growth and a higher minimum wage than the federal level, housing costs are rising much faster. We have to act now to close that gap,” she warned.
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Katie is a senior who has been on staff for three years. Her favorite type of stories to write is reviews and features. Katie’s favorite ice cream flavor is strawberry.
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