New Affordable Apartments In Denver

[Shellback Squid]

"that means that the max rent Zocalo can charge for a studio apartment $1,468 per month, one bedrooms top out at $1,573 and two bedrooms at $1,888 per month, company real estate director Lisa Jefferies said. The most a single person seeking to rent in the building can make is $58,720 per year."

https://www.denverpost.com/2021/05/29/denver-rino-rail-apartments-affordable-housing/

Nearly $20k in rent per year, almost a third of the max you can make ($58k)at your job to rent these units.

Is that affordable?

[RegularJam]

1. We won't accept an applicant if income isn't three times the rent, at a minimum.

It’s somewhat standard.

Hitting that thirty percent mark is right at the red line. That thirty percent is also often without any utilities included.

[Shellback Squid]

6. it's the maximum, $58k, if you make more then it disqualifies you.

[RegularJam]

9. It's right at that line no one should cross.

In other words, it’s also borderline unaffordable rent.

[Calista241]

2. Yeah, this is 'affordable'. If someone wants to live in an up to date, modern, well equipped

apartment, this is much lower than standard. In Atlanta, you can expect a nice one bedroom in a decent area to cost $1,800+, and two bedrooms are $2,500+.

If you want to live in a shithole apartment, or with a slumlord, or in a shitty part of town, you can pay less.

[jimfields33]

3. My mortgage is less then a thousand with property taxes and home owners included.

I know it’s nice to live in a big city but the suburbs have their appeal too. Plus it’s yours!!!!!

[AllaN01Bear]

4. nope.

[Bristlecone]

5. It's super expensive down there

In reading the article it seems that the “affordable housing” is based on area incomes and it is only a small percentage of the total units. In return, builders can go over 8 stories.

I have a 1 bed, 1 bath in west Wash Park that I can get this much easily. I choose not to because I want tenants to stay longer. I also like my tenants and don’t want to take advantage of them. As a result, I and have never had more than a month empty in 10 years.

I even remodeled with tenants still living there. Full kitchen and full bath. Gave them free rent in exchange for the duration of the work.

[Shellback Squid]

7. Thanks, you sound like a great and reasonable landlord, I would rent from you

[Bristlecone]

8. Being next to Wash Park doesn't hurt either

It’s definitely not all me.

[PoindexterOglethorpe]

10. I could not afford even a studio in that supposedly affordable place.

And to think, I'm buying a home in Santa Fe, NM, which is supposed to be hideously expensive.

[Grokenstein]

11. My one-bedroom in the Bay Area is $1900/month

About half my monthly income. And last time I looked, that was the median price.

[Shellback Squid]

12. No Bays here