Between 2000 and 2006 the number of children living in poverty in Colorado increased by an astounding 73%, while the total number of children only increased by 6%.
The minimum wage in Colorado in 2008 was $7.02. To afford the average two bedroom apartment at this wage you would need to work 92 hours per week. This often translates into hidden homelessness and high levels of transiency, as families chase move-in specials and attempt to avoid rent increases each year.
In 2007 the median home price in Colorado was $236,842. A prospective home buyer would need to earn more than $55,000 to afford the average home. This precludes many firefighters, elementary school teachers, carpenters, retail salespersons, tellers, servers and licensed practical nurses from homeownership.
More than half of low-income households in Colorado pay in excess of 50% of their incomes on rent.
THE IMPACT OF HOUSING ON THE LIVES OF FAMILIES RUNS DEEP
- Raise children’s academic scores and reduce behavioral problems in school.
- Improve attendance at school and work.
- Lower rates of chronic childhood illnesses such as asthma.
- Move people out of poverty.
- Revitalize neighborhoods and raise property values.
- Reduce the strain on education, public health, social service, law enforcement, criminal justice and welfare systems.
- Bring increased tax revenues to the entire community.
- Increase the customer and employee base for local businesses.