Affordable Housing in Denver

Denver is constantly being recognized as one of the best places in the country to live – and with good reason! It’s hard to beat the mile-high city’s lifestyle, music and food scene, or the mountain views. This recognition, however, has caused a boom in the Denver population which has ultimately increased the cost of living across all neighborhoods. We know it can be expensive living here and we want to help. We have consolidated local and national information on topics including housing, neighborhood profiles, student loans, exploring the city, and more. Whether you’re a Denver native or a newcomer, this toolkit will help you navigate Denver’s financial landscape. While not exhaustive, the content of this toolkit was designed to be helpful, concise, and relevant.

The Denver Housing Authority offers a number of affordable, subsidized, and market rate housing options as well as Section 8. Please visit their website to learn about these programs and their requirements/guidelines

Here's a link to check out DHA's list of Affordable Housing.

Home Share Programs

Home Share programs such as Sunshine Home Share match seniors with available rooms to those seeking more affordable housing. This helps a senior remain in their home and those seeking housing get discounted rent in exchange for household chores. The program involves an extensive matching process to which both the home provider and home seeker agree on fit, and then begin a week long test-run. Housing commitments are for6 months to a year and anyone is welcome to apply. To apply please visit Sunshine Home Share Colorado.

If you need a place to stay while searching for housing

You will likely find a better deal on housing if you move to the area first and search for housing while you are here. It is much easier to find housing by walking around, driving through neighborhoods, and talking to people than trying to find a place remotely.

House Sitting: This allows you a free (and sometimes paid) place to stay while you begin your housing search. Examples of house sitting organizations include Trusted House Sitters and Luxury House Sitting.
Subletting University Housing: With four universities in Denver, there are many opportunities to sublet from students who have left for the summer. This is especially true around Denver University, which is an area with light rail access.

If you are looking to buy a home

Denver’s Inclusionary Housing Ordinance requires that new for-sale developments over 30 units set aside 10% of the units as affordable to families earning gross income less than $44,750 for an individual and $63,900 for a family of four. To see available housing (or place yourself on a waitlist), visit Colorado Housing. Interested buyers are required to take a homeownership counseling course and will need to obtain private financing to purchase the affordable unit.

The Department of Housing and Urban Development's Good Neighbor Next Door Program offers HUD owned single family (one-unit) homes to full time preK-12 educators at a 50% discount. These are foreclosed homes sold as is and it is highly recommended that you get an inspection before you commit to purchase. While there are sometimes no homes available, listings are updated daily and last for 7 days. Search on HUD's Homestore. To apply, your realtor applies for you and is notified if your bid is accepted. You must commit to live in the property for 36 months as your sole residence. The public or private school where you are employed as a teacher must serve students from the area where the home you are purchasing is located in the normal course of business.

Home Partners Lease with Right to Purchase program allows you to find a home to rent, with the option (but no obligation) to buy within the next 3-5 years. You apply, qualify, and once you find a home for sale on the market, Home Partners will buy it. You then rent the home from them and have the right to buy it for their listed, market price (your rent does not go towards the purchase). The lowest rent available is typically $1200 and you can even search for houses near local high schools. This is a great option to test out a home before you buy it and complete the loan process on your timeline! Requirements include a household annual income of at least $50,000, no history of eviction or bankruptcy, a $75 application fee, and a refundable deposit of 2 months’ rent.

If you are looking for credits and financing

The Colorado Home Financing Authority is a program typically for first time home buyers which offers assistance with down payment and closing costs. In exchange for a higher interest rate, you can receive a grant for up to 4% of your mortgage. They also provide free homebuyer education across the state in English and Spanish. Requirements include a 3% down payment and a1-2 person household income limit of $83,900.

Educator Mortgage Program lends to educators with a 620 credit score or higher so homes can be purchased with as little as 3.5% down. The average turnaround time is 20 days and there are no fees, costs, or obligations.

When buying a home, choose a local lender (with a local underwriter) to help with processing speed. If you use a lender from your home state, the time difference could cost you multiple business days of processing delay! Always talk to your lender before opening a new line of credit or taking out a loan.