DENVER - Today, findings from an analysis done by the Pew Charitable Trust found that not allowing for more homes to be built pushes up rent prices across the board and increases hardships on low-income residents and neighborhoods. The analysis stated that as of today, the U.S faces a shortage of 4 million to 7 million homes, a result of restrictive zoning ordinances.
“It is not rocket science that by increasing housing supply we can decrease rent spikes, and help more Coloradans realize the dream of home ownership. Breaking down barriers to housing includes getting rid of parking requirements, building more housing near transit lines, and reworking zoning in order to save people money, and help Coloradans live where we want to live,” said Governor Polis.
“From building more high-quality starter homes to modernizing building codes and removing barriers to low-cost modular homes, Colorado Democrats have made housing affordability a top priority at the Capitol. This PEW study confirms that the work that Colorado Democrats have done to accelerate budget-friendly housing options will help prevent rent prices from skyrocketing. With a shortage of over 100,000 homes across Colorado, our housing laws will help spur new housing options that will make it more affordable to call Colorado home,” said House Speaker Pro Tempore Andy Boesenecker, D-Fort Collins.
"The cost of housing in Colorado is a complex problem that requires a multi-faceted approach, and this study makes clear that building more homes is essential,” said Senator Matt Ball, D-Denver. “During a housing shortage, low-income areas see the steepest rent hikes. By building more housing through creative solutions, like those made possible by my legislation to allow for the construction of single staircase buildings, we can help keep rents lower for everyone and ease the strain on Colorado families’ budgets.”
“Colorado Democrats are making housing more affordable, and new studies like the one from PEW show us we’re on the right track. This latest data confirms what we’ve long known: more housing means greater supply and lower prices overall. Solving our state’s housing crisis requires us to remove barriers to building more housing and prioritize housing near transit to encourage homeownership and affordability at all entry points,” said Rep. Steven Woodrow, D-Denver.
“Colorado’s housing shortage contributes to unaffordable homes, longer commutes, inefficient water use, poor air quality, and, of course, higher rents,” said Senator Iman Jodeh, D-Aurora. “In order to build a sustainable future with thriving communities, we need more affordable rental opportunities. The Pew Study is clear: more housing means slower rent growth for affordable units in lower-income communities that need it the most. We’ve made great progress in recent years, but there is more work to do to ensure every Coloradan has a safe, affordable place to call home.”
Earlier this week, Governor Polis took an additional step to update an early May executive action to break down barriers to housing and increase compliance with state housing laws by signing another Executive Order to update and supplement this effort, including releasing the list of impacted grants and directing state agencies to prioritize future grant funding.
In early July, National Zoning Atlas released a first-of-its-kind analysis on local zoning ordinances and how they impact Colorado's ability to deliver on more housing options to fit every budget.
Colorado is leading the way in lowering the cost of housing and breaking down government barriers blocking new housing that people can afford. Governor Polis has signed landmark laws passed by the legislature to break down barriers to housing, allow more housing options near transit, and cut through government red tape to reduce the cost of housing. Major steps forward include laws around transit-oriented communities, accessory dwelling units, eliminating discriminatory occupancy limits, costly parking requirements, legalizing smart-stair apartments, and jump-starting starter home condo construction.
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