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More than 17% of Coloradans are renters. According to an analysis from Headwaters Economics, a Montana-based, independent think tank, the largely unprecedented growth in housing costs over the last year has impacted renters more than homeowners. This is especially the case with housing unaffordability.
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In anticipation of the federal eviction moratorium expiring or being struck down, Gov. Jared Polis passed an executive order last month that gives tenants an extra 20 days to make up missed rent payments. That order expires on Sept. 4, but could be extended if a “significant backlog” of rental assistance remains, a spokeswoman for Polis said.
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Colorado has so far distributed more than $121 million in emergency rental assistance it received from various federal and state stimulus packages. But thousands of applications remain in limbo, according to data from the Department of Local Affairs.
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Applications dropped from a high of 1,445 during the first week of April to 526 the last week of May, according to data from the Department of Local Affairs. The money is designed to help renters and landlords still dealing with the economic impacts of the pandemic.
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The economic impacts of the pandemic have put a spotlight on housing instability, as Coloradans struggle to pay rent. A new program in Boulder aims to help tenants through housing instability by avoiding eviction.
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Thousands of families across Northern Colorado, particularly Black and Latino residents, are struggling to pay rent because of the pandemic. In part one of 'On the Edge,' we look at the economic factors pushing people to ask for help.
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Gov. Jared Polis recently extended protections for renters struggling to pay their bills during the coronavirus pandemic. Landlords must now give their tenants until mid-September to make up missed payments. But with unemployment still high, it’s unclear if the move will help prevent a big spike in evictions this fall, and some in Colorado and Nevada are calling for a longer-term fix.
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Millions of renters nationwide are at risk of eviction, and new data out of Nevada offers a sense of just how urgent the situation is as Congress debates another COVID-19 relief bill.
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Housing advocates and landlords alike say if Congress doesn't extend or replace the extra payments expiring this weekend, millions of out-of-work Americans won't be able to afford to pay their rent.
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As employers continue to lay off workers at unprecedented levels, every state in the Mountain West has some kind of rent assistance program in place....