LOVELAND’S HOUSING CRISIS ENDS HERE!

In survey after survey, Loveland residents report that home affordability is our community's biggest challenge - and the data proves it. In a strategic effort to understand our housing crisis, eliminate roadblocks to affordability, and create lasting change, the Affordable Housing Task Force was convened in early 2021.

At monthly meetings, the task force brings together representatives from the private, public, quasi-government, and non-profit sectors. 

In 2022, the task force commissioned a study from Economic and Planning Systems, Inc. and learned the following:

• Most of Northern Colorado’s household growth and housing market is being driven by affluent households. Over the past decade, 64 percent of growth in Larimer and Weld counties has been households earning more than 120 percent Area Medium Income (AMI) – approximately $80,000 for a two-person renter household and approximately $90,000 for a three-person owner household.

• With the escalation of home prices and rents is the broader appreciation of the entire housing inventory. Over the decade, more than 5,800 rental units became unaffordable to households in the 30 to 60 percent AMI range (the “affordable housing” category) and approximately 7,700 owner units became unaffordable to households in the 50 to 80 percent AMI range (part of the “workforce housing” category).

• In Loveland, where in 2018 there were nearly 36,000 jobs, just 8,100 employed residents lived and worked locally (23 percent). This means that 77 percent of Loveland’s jobs were held by workers living somewhere else.

Click here to see more of our EPS study analysis, which we presented to Loveland City Council in August 2022.