The average cost of housing is rising while the average person’s income can’t keep up.
Research published in 2024 found that in Colorado, the price-to-income ratio ranges from 4.0 to 7.9 in certain areas, meaning the median home costs four to eight times the median household’s annual income. Renters are also feeling this pressure, as the median gross rent price increased by 2.7% from 2023 to 2024, bringing the average rent costs to about $1,487.
To address this issue, lawmakers and local leaders have suggested increasing affordable housing development and reforming zoning laws — local rules that determine what types of housing can be built and where. Vanessa Fenley, senior housing manager for the City of Fort Collins, said this remains a top priority for the Fort Collins City Council…