Denver is subsiding rent to make expensive apartments available for low-income workers

Like many cities in the US, Denver is having a housing crisis. Workers such as teachers and nurses are struggling to find homes that fit their budget, and the cost of living in the city is pushing people further away from the metropolitan area. In an effort to address this affordability issue, Denver has a radical idea. It plans to subsidize rent so that lower-income people can live in high-end apartments that currently are too expensive to attract market rate tenants. This may sound crazy for a city to do, but with 16,000 living units sitting empty, it simply makes sense. 

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Denver is subsiding rent to make expensive apartments available for low-income workers

Like many cities in the US, Denver is having a housing crisis. Workers such as teachers and nurses are struggling to find homes that fit their budget, and the cost of living in the city is pushing people further away from the metropolitan area. In an effort to address this affordability issue, Denver has a radical idea. It plans to subsidize rent so that lower-income people can live in high-end apartments that currently are too expensive to attract market rate tenants. This may sound crazy for a city to do, but with 16,000 living units sitting empty, it simply makes sense. 

Solution News Source

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