Housing

Affordable & Workforce Housing

Opportunities for All

Colorado is ranked among the worst in the country for housing affordability for first-time homebuyers. Our state came in 43rd out of 50, based on home prices relative to income, job prospects for young adults, market tightness, credit availability and homeownership rates among adults under 35.

– Information from Bankrate, 2017

Westminster Affordable and Workforce Housing Map

Existing and proposed affordable housing facilities within the city of Westminster

Current and future housing needs

In 2017, Westminster established a task force to address specific affordable housing needs identified for our community. Below are some findings from the Affordable Housing Needs Assessment:

  1. 3,500 Westminster residents need rental assistance to afford their rent payments without being cost burdened (i.e., they pay more than 30 percent of the income in rent and utilities).
  2. More than 4,000 renters are on waitlists for subsidized housing. These renters are hoping to access the 800 rent-restricted rentals in Westminster that currently exist, but are occupied.
  3. 1,700 renters earning $50,000 to $75,000 want to buy in Westminster – yet there are only 250 affordable homes for sale in their price range.
  4. We will have 4,000 more seniors with disabilities in the next 10-15 years.
Housing Needs Assessment

Affordable and workforce housing strategy

City staff has taken the findings of the final report and created a housing strategy and plan. The staff is focused on removing barriers to the development of new units, as well as preserving existing units.

Affordable housing impacts the overall prosperity of our entire community. It can provide a substantial economic development benefit by:

  • Stabilizing the workforce
  • Reinforcing smart growth patterns
  • Revitalizing neighborhoods
  • Attracting businesses

In short, affordable housing affects all of us in Westminster, and without a sufficient supply, an entire region can be at a competitive disadvantage.

Affordable and Workforce Housing Strategic Plan

Resources