Colorado releases first statewide housing needs assessment
The Department of Local Affairs' State Demography Office has released Colorado's first statewide Housing Needs Assessment. The report finds that the state's housing supply is growing, but many households still struggle to afford a place to live.
The department announced the release Monday, November 9, 2026. The report looks at the current housing market, housing affordability and future housing demand across the state and its regions.
The assessment was previewed Friday at the 44th annual State Demography Summit. A state law, SB24-174: Sustainable Affordable Housing Assistance, requires it.
"The Summit is one of the most important gatherings in our state because it helps us plan for Colorado's future based on real data, and I'm thrilled to mark it with the release of the first-ever statewide Housing Needs Assessment," said Department of Local Affairs Executive Director Maria De Cambra. "Behind every data point are families hoping for stability and an affordable place to put down roots. The data from the HNA will be critical for us to be able to successfully map out a plan for Colorado's housing future."
According to the report, construction is keeping pace with overall population growth. Affordability problems remain.
Colorado had 2.75 million housing units as of July 1, 2026. Owners occupied 64.1 percent of them.
Buyers need an income of $153,000 to purchase the median-priced home of $547,900. Renters need $72,900 to afford the average apartment.
Nearly 34 percent of Colorado households, or 842,900, are cost burdened. That includes 49 percent of renters and 26 percent of owners.
Colorado needs an additional 30,600 new units each year through 2036. That would keep up with projected population and household growth.
The statewide rental vacancy rate is 9.5 percent. The average rent for a two-bedroom apartment is $1,932.
Between 2019 and 2024, construction costs rose 44 percent. That outpaced the 37 percent increase in average single family home sales prices.
The number of people age 65 and older is projected to grow by 19 percent over the next ten years. Up to 238,000 more people with a disability are also expected. The report says more housing that supports aging in place is needed for this growing population.
"We are thrilled to share our updated population estimates and forecasts, and to show the public how demographics and housing are connected. In addition to releasing new statewide figures, we continue exploring the broader implications of demographic shifts on our economy, housing market, and communities," said State Demographer Neal Marquez.
The assessment is meant to inform policymakers, local governments, developers and the public about the state's housing needs today and in the future.
More than 650 people attended this year's Summit in person and online. They included state and local government officials, planners, economic developers, real estate professionals, property appraisers, business community members and the general public.
Summit presentations covered population estimates and forecasts, and planning for growth and shifting populations in Colorado school districts. Other topics were jobs and the economy, the future of Colorado's position in competition, and the 2030 Census.
The full Colorado Housing Needs Assessment is available at https://drive.google.com/uc?export=download&id=1T9pIRab6usCUyPfg7C3n-D9YSDTD3IS4. More information on the 2026 Summit, including copies of presentations from Friday's event, is available at https://demography.dola.colorado.gov/assets/html/summit.html.
