Fair Market Rent (FMR) for a 1-bedroom apartment in Denver is $1,260 per month. In order to be able to afford that amount without spending too much of your income on housing, you need to be earning $4,200 per month or $24.23 per hour in a 40-hour per week job!
The problem is that there are too many of us who work full time and earn much less than that.
Someone earning $17 per hour in a 40-hour per week job should only spend $884 per month in housing costs.
That’s a $376 gap. Every single month.
Homesharing is when a homeowner with an unused bedroom rents that bedroom to a neighbor. This practice has been done for centuries! It is an affordable way to live in a safe and stable home without spending more than 30% of your income.
While Colorado is short on affordable housing, it is not short on unused bedrooms. In fact, a 2018 study found that there at least 442,000 underused livable spaces in Denver homes alone!
Open Up provides you with a local connection to help guide you through the process. Our passion is that every Coloradan would have safe and affordable housing using their own financial resources.