Monday, August 13, 2007

Affordable Housing in Boulder - In Action

by Osman Parvez
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Last week a reader of the blog, Eric Chwang, contacted me. He'd just attended the "City of Boulder Homeownership Program Orientation." During the session the organizers shared some interesting market data.
Specifically, they gave us the annual appreciation rates for attached dwellings in Boulder for the last 20 years, as well as the indices used to fix the appreciation rates (capped at 3.5% annually, simple interest) for their affordable housing units.

Eric took some time to convert the data to an Excel file and asked if I'd share it with readers of this blog.

The chart below shows how the program has functioned to help make property affordable. It's on a percent change basis. The pink line is the consumer price index for Boulder. The yellow line is area median income. The red line is property in the program. The green line is market property.



Here's the accompanying data table:



I'd like to thank Eric for taking the time to share this information with readers of the blog. I'm sure it will be helpful for many to consider.

p.s. If you have insight, data, charts, development images, or other (housing related) information to share with readers of the blog don't hesitate to contact me (ph: 303.746.6896 or osman@realtyunique.com

Credit: Eric Chwang


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1 comment:

  1. It is interesting to see these data. As a participant in the Boulder affordable homes program for the last 5 years, I can vouch that it is a great option for owning your own condo/home in Boulder! Now is a great time to get into the program too as there are lots of great properties immediately available. Sometimes people think that they don't want apply for the affordable homes program because they assume they would have to be on a waiting list to get into an affordable unit. This is not at all the case though as supply of affordable homes actually exceeds demand at the moment. There are really nice properties too - from spacious condos in some of the nicest new neighborhoods of Boulder to new single family homes, all at prices a fraction of market rate. Just some thoughts for those of you who might be considering the program...

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