1351 Sherman Drive
Longmont, CO 80501
303.776.3334
website
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HOUSING CRISIS |
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The tragedy of inadequate housing is not limited to the poverty-stricken and down-and-out of our community. Every year it becomes increasingly difficult for St. Vrain Valley’s service providers and civil servants to pay for decent places to live within our community. In Longmont, the largest city in HFHSVV’s territory, city officials report that present housing stock is simply “not meeting the needs of low- and moderate-income households,” leaving over 3,000 families with immediate housing challenges.* In effect, the people who teach our children, clean our communities, fight our fires and police our streets are finding it almost impossible to own their own homes.
The average mortgage in the St. Vrain Valley costs nearly $15,444 annually. For a family grossing $30,000 a year (the base salary for a St. Vrain Valley teacher), more than 50% of income must be spent on housing alone. Similarly, to make the average monthly rent payment, that family would still spend $9,744 per year (nearly one-third of its income), with no solid asset accumulation. And the gap between income and housing costs would only grow with each subsequent year.
The problem facing low- and moderate-income earners is so serious that many community and government programs offer some type of aid to families seeking home ownership. However, most programs are designed for families with incomes of 60-80% of the Area Median Income (AMI).
Habitat, on the other hand, is committed to serving families that earn 20-40% AMI. By partnering with HFH, a family of four earning as little as $9 per hour—a demographic that faces the threat of homelessness daily—can own a home with manageable monthly payments and significantly reduced stress upon the family as a whole.
* City of Longmont’s Housing and Community Development Needs Report, http://www.ci.longmont.co.us/CDBG/dev_needs.htm
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