GOAL
Increase stock of workforce housing to ensure workers can attain housing within reasonable proximity to their jobs
SUMMARY
The workers we have and need in our region on a daily basis should be able to live here. Workers across the income spectrum – from teachers and firemen to hospitality and tech workers – should be able to find attainable housing within reasonable proximity to work. To achieve this end, we need accommodative public policy and direct action. The Chamber will convene key regional partners and stakeholders, and catalyze a program that solves this problem.
CHALLENGES
Inadequate Supply
The supply of workforce housing (appropriate quantity at a reasonable price) has not kept up with demand. Colorado will need to develop 54,190 NEW housing units over the next five years if we want to stabilize the housing-to-population ratio
Cost Prohibitive
Owned and rental housing is cost prohibitive for many middle-income earners:
- Housing costs in Arvada are higher than the state
- The median home sale price in Arvada is $612,500; the average income needed to purchase a home is $130,000+
- Rent for a two-bedroom apartment is 47% higher in Arvada ($1,605) than in Colorado ($1,088)
- 1 in 4 are paying more than 30% of their income for housing costs
- The living wage in Colorado for a family of 3 is $31.19 / hour (approximately $5,000 / month for a full-time worker)
Existing Incentives Programs Skip Middle-Income Earners
Federal and state programs generally focus on incentivizing housing projects for earners making less than 80% of the Area Median Income (AMI); these programs do not commonly address housing for earners making up to 120% of AMI; we want and need housing in our region for such middle-income earners
Barrier to Talent Availability
Given the high cost of housing in the region, many workers are forced to look outside the region to purchase a home; this often means long commute times to the job site; many workers cite having a one-hour commute or longer to work in the region; it is no surprise that these workers resign from their positions when they find work closer to home or are unwilling to accept a job in the region because of the commute time
Lack of Regional Coordination
As with Talent and Childcare, Arvada and Jefferson / Adams Counties have long lacked a coordinated effort to grow our stock of workforce housing
KEY STRATEGIES
Lead a coordinated regional approach to increasing our stock of workforce housing
Build community support and take direct action
PERFORMANCE MEASURES
Increased quantity of income-aligned workforce housing
- Housing targets will be aligned with average salaries of:
- High-demand career positions
- Public safety (fire, police, ambulance, etc.)
- Health and education workers
B.O.L.D 2026
The Chamber Board and Campaign Leadership Council are convinced B.O.L.D. 2026 is the right approach at the right time for our community and region. Join us!
For more information about performance measures, budget and staffing today, contact Arvada Chamber President, Kami Welch, at kami@arvadachamber.org
