Housing is considered affordable if the monthly costs do not exceed 33% of a family’s income.
In La Plata County it is estimated that a $50,000 gap exists between what most families can afford and what is on the market. The RHA has determined that families earning less than $30,000 need affordable rental opportunities while families earning between $30,000 and $75,000 need discounted homes or mortgage assistance to enter the homeownership market.
The chart below lists La Plata County’s Area Median Income (AMI) per household size. RHA’s homebuyer assistance programs help lower monthly housing expenses to a managable level for households that earn less than 125% of the AMI.
|
% Median
|
Household Size
|
|||||||
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8+
|
|
|
80%
|
$35,000 | $39,900 | $44,900 | $49,900 | $53,900 | $57,900 | $61,900 | $65,900 |
|
100%
|
$43,700 | $49,900 | $56,100 | $62,400 | $67,400 | $72,400 | $77,400 | $82,300 |
|
125%
|
$54,600 | $62,300 | 70,200 | $78,600 | $84,200 | $90,500 | $96,700 | $102,900 |
Homes in La Plata County
Below is a list of some of the homes and developments we keep our eye on that are in our price range. This is not a complete list of housing in La Plata County, but a sample of different options. The RHA recommends that you work with a realtor to explore all housing options. Please call us for more information about how we can help you buy.
We try to keep an up to date handle on what housing is on the market in the under $300,000 range – finance and loan options, HOA fees, etc. However please do your homework and check this information for yourself.
Updated: October 2, 2009.
Animas Cliffs
• Condos on CR 203 – near Sweeney’s Restaurant
• Financing available from First National Bank
• 1 BD/1 BA start at $154,900
• Offering a $7,000 discount
• $125/mo HOA fee
Cinnamon Heights townhomes in Bayfield
• Townhomes – only 15 minutes to Hospital
• 2 BD/ 2 BA start at $226,000
• First time buyers qualify for $8,000 rebate
Cliffside Condominiums
• Behind Walmart in Durango
• Start at $199,000
Silver Peaks
• Near Fort Lewis College in Durango
• One, two and three bedrooms
• Start at $159,000
• $125/mo HOA fee
Sunrise Villas
• Bayfield townhomes
• 3 BD / 2.5 BA
• Start at $235,000 with one-car garage
Nonprofit Affordable Home Builders
Habitat for Humanity
Colorado Housing, Inc.
