We all know rent isn't cheap in Colorado, and neither is owning a home — though the latter is a whole other conversation to have over a slice of avocado toast. 

99.9 The Point logo
Get our free mobile app

The National Low Income Housing Coalition has published its annual 'How Much Do You Need to Earn to Afford a Modest Apartment in Your State' report; 'modest' meaning a typical two-bedroom rental, not a penthouse or downtown loft. Still, Colorado ranked the ninth most-expensive state.

According to the report, Coloradans need to make at least $27.50 per hour to afford an average two-bedroom rental. That's more that twice Colorado's $12 minimum wage. If you're making minimum wage, you'd have to work 89 hours per week to afford rent.

The report details that Fair Market Rent in Colorado is $1,430 per month for a two bedroom, or $1,154 for a one bedroom. And while a renter would need to bring in at least $27.50 per hour to not spend more than a third of their income on rent and utilities, the average Colorado renter's wage is only $20 per hour.

The most-expensive areas to rent in Colorado are Boulder County, Eagle County, Pitkin County, Summit County and the Denver Metro region. Larimer County residents need to make at least $25 per hour to afford rent, and Weld County residents need to make at least $22 per hour. Where are Fort Collins' most-expensive neighborhoods? See below.

To the north of us, Wyoming ranked 38th, with workers needing a $16 per hour wage to afford rent. Not surprisingly, California ranked first for the highest housing wage, at nearly $40 per hour needed. You can see the map here.

5 Most-Expensive Neighborhoods in Fort Collins


25 Wealthiest Places in Colorado in 2021


More From 99.9 The Point