A strong local economy depends on housing that is attainable for the workforce and broader community. Yet, rising housing costs are pushing employees farther from their jobs, forcing employers to contend with longer commutes, talent shortages, and increasing hiring challenges.
Colorado offers a unique state income tax credit specifically for employers that helps their workers save toward buying a home. This opportunity is another tool employers can use for recruitment and retention. Employers may claim this credit for contributions they...
Stable housing helps employees show up fully at work, but it can be time‑consuming for individuals and HR teams to track down information. To make this easier, the Greater Arvada Chamber has created a housing resource that employers can share directly with current staff and prospective hires, rather than trying to compile information on their own.
For Equalized Productions, an audio-video integration and live event production company in Arvada, the lack of affordable housing is no longer just a personal issue for employees—it’s now an ongoing management concern for owner, Liz Kistler. The company’s ten full-time and several part-time staff all earn between 60–120% of Area Median Income ($55,000-$155,000), and only one lives in Arvada. Most would prefer to live closer to work, yet high costs make that nearly impossible.
Marshall and On Tap Credit Union have developed an internal employee mortgage program and broader community housing incentives. Still, OnTap is limited in what they can provide on their own to address housing needs.
By Tess McShane, Special Projects Lead Colorado continues to rank amongst the most expensive states for home buying costs. According to both Redfin and Bankrate,Colorado currently ranks as the 4th most expensive state for median home prices nationwide, amplifying the...