KUNC: As Colorado Housing Costs Soar, These Builders Look To Shipping Containers As A Solution
Northern Colorado is short thousands of housing units, according to Crisafulli, and the Common Sense Institute estimates the number is over 175,000 statewide — a number that various people and local governments view as too low or too high. Either way, the deficit is contributing to double-digit percent price increases across the state and stressing out working class families looking for a place to live.
The shortage is so bad, some communities have considered declaring a state of emergency.
The median sale price for a single family home in the state hit $530,000 in June — an eye-popping 24% increase over last year, according to the Colorado Association of Realtors. After dipping in 2020, rents are spiking too. The average two-bedroom unit in Aurora, for example, rose to $1,670 in July.