Report: ‘Essential service’ workers struggle to afford housing on Front Range

The cost of housing in metro areas around Colorado remain at the edge of affordability for essential service workers such as janitors, nurses and police officers, while the high-cost markets of Boulder and Denver are challenging for workers across the earnings spectrum, according to a new report released by the National Housing Council.

Median home prices in five of six metro areas in Colorado are significantly higher than the national average, according to annual Paycheck to Paycheck report.

The research compares median housing costs and median income data from Denver, Boulder, Greeley, Fort Collins, Pueblo and Colorado Springs to assess housing affordability.

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The national median sales price of a house is $233,000, according to the report, while the median price in Boulder is 88 percent above that, followed by Denver, 48 percent higher; Fort Collins, 42 percent higher, and Greeley, 29 percent higher. The only metro area included in the study that has a median home price below the national average is Pueblo, at 39 percent below.

The report conjectured that one unexpected expense such as a car repair or a medical bill can mean cutbacks on essentials like food, heat and child care, or even result in losing their home.

“Tens of thousands of people are one event away from a housing crisis,” researcher Brian Stromberg said in the report.

In terms of rents, only Boulder and Denver surpass the national median rent of $1,056. The report said only elementary-school teachers could afford typical rents in all six Colorado metro areas, while janitors and full-time retain associates could not afford the rent in any of the metros.

In the Greeley metro area, the typical rent for a two-bedroom home would consume almost 40 percent of a full-time retail associate’s earnings, the report said.

The report further explained that a lack of affordable housing has impacts that “reverberate throughout a community,” as workers are forced to relocate to more affordable areas, spend more time on longer commutes or spend less on essential household costs like health care and food.