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Denver City Council Set To Discuss Affordable Housing Proposal

(CBS4) -- Denver City Council is working to come up with a solution to help make housing more affordable. A proposal was made possible by a state bill that recently passed.

DENVER AFFORDABLE HOUSING VOTE 530VO_frame_1459
(credit: CBS)

The bill allows cities like Denver to require affordable housing on all new for-rent or for-sale housing.

So this policy is meant to ensure, as those new homes are built in Denver, more affordable housing is built as well, which is a big need right now.

The city says between 2010 and 2019 the median rent in Denver increased by 77%. The median home value increased by 79%, while the median income for a 2-person household only increased by 32%.

One in three households in Denver is now struggling to afford housing.

The city's proposal would require new housing construction sites to build a certain number of affordable units as well. Or they can pay a fee instead.

City council will vote on the "Expanding Housing Affordability" proposal at their meeting at 5:30 p.m.

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