Matters Memo

City of Boulder City Council Agenda Item Meeting Date: March 5, 2026 Agenda Title Affordable Housing: A Review of the Current State of Affordable Housing in Boulder.

Staff Contact • • •

Kurt Firnhaber, Director, Housing and Human Services Jay Sugnet, Senior Housing Manager, Housing and Human Services Hollie Hendrikson, Housing Policy Senior Project Manager, Housing and Human Services

Executive Summary The purpose of this memorandum is to provide an overview of the status of affordable housing in Boulder. The analysis offers a brief discussion of historical housing development trends in the city, an exploration into today’s homeownership and rental housing markets, an overview of the City of Boulder’s affordable housing policy interventions and concludes with a discussion of how the city’s programs are evolving to meet future housing needs.

Questions for Council 1. Does City Council have any questions about the city’s affordable housing programs?

Alignment with City Plans and City Council History Sustainability, Equity and Resilience (SER) Framework and Citywide Strategic Plan Alignment SER Framework Goal Area • Livable. Provides a variety of housing types with a full range of affordability. •

Livable. Supports community members who are unhoused or underhoused to navigate systems, programs and services to achieve housing security.

Citywide Strategic Plan Livable. Strategy 5. Support and provide holistic and accessible programs and services to enable diverse individuals and families to live in Boulder. a. Priority Action: Increase successful transition from homelessness to housing by identifying and broadening supportive housing opportunities and by expanding access to essential health and system navigation services. b. Priority Action: Deepen collaborative strategies and services for legal and financial support to prevent evictions and to keep Boulder community members housed. c. Priority Action: Collaboratively implement and fund local and regional strategies to increase affordable housing stock and other potential and innovative strategies that could provide increased housing options for our unsheltered community. Staff Notes Affordable housing is an integral part of Boulder’s social and physical infrastructure. As shown in Attachment A, affordable housing is found in almost every neighborhood and houses one out of every 11 residents (non-student population), affordable housing offers spaces and places for older adults to connect, kids to thrive, and a meaningful reprieve for the unhoused. For 60 years, Boulder has been a leader in affordable housing, taking bold steps to address housing challenges in the community. That history is summarized in Attachment B. Boulder’s affordable housing programs have evolved over time into a nationally respected approach for addressing shortfalls in the housing continuum.1 In 1991, there were fewer than 1,000 affordable homes in the city. Today, 4,326 permanently affordable homes are located throughout Boulder: 8.9% of all housing units

The term “housing continuum” describes a range of available housing options in a community that serve a wide range of incomes. Everything from short-term shelters for those experiencing homelessness to homeownership opportunities. 1

in Boulder are now permanently affordable.3 Additionally, in the past 10 years, for every 100 new homes built, 37 permanently affordable homes were created. We have far exceeded the requirement of 25% affordable, as defined by our Inclusionary Housing ordinance. By leveraging state and federal funding with local funding sources, and fostering strategic partnerships with local non-profit developers, the City of Boulder is currently on a path toward its goal of 15% of all housing as permanently affordable by 2035.4 Attachment C includes more complete details about the permanently affordable homes in the city. The analysis below briefly discusses historical housing development trends in the city, offers observable data of today’s homeownership and recent rental housing markets, reviews the city’s supply- and demand-side housing policy interventions, innovations in affordable housing interventions, and discusses options to expand the size, scope and reach of the city’s affordable housing policies.

Alignment with Additional City Plans This item is timely due to the current update of the Boulder Valley Comprehensive Plan (BVCP). Housing Choice & Opportunity is a focus area of the update. Understanding the current affordable housing programs, policies and challenges is important in considering changes to the BVCP as part of the update.

City Council History Over the years, staff have regularly provided updates to City Council on progress toward meeting our affordable housing goals. This update is an opportunity for council to discuss progress to date and future areas of focus.

Analysis While Boulder has always been an exclusive and expensive place to live, historic housing development and market trends in the city show a more complex journey. From its founding in the mid-1800s, the growth of Boulder was shaped by exclusivity. As explored in the city’s 2021 Housing Equity Symposium, elevated land prices were a core component of the founding of Boulder, as a stated intention was to keep people of lower incomes and service jobs out of the community.5 Between 1947 and 1967, In Boulder, permanent affordability refers specifically to rental or homeownership units throughout the community that have a legal restriction recorded on a property’s deed that limits resale to income-eligible buyers and renters in perpetuity. Permanently affordable homes will remain affordable to future-income qualified households. 4 Boulder’s Inclusionary Housing (IH) program requires all new residential developments to contribute 25% of the total units, or the equivalent, as permanently affordable housing. 5 City of Boulder Housing Equity Symposium, 2021: https://bouldercolorado.gov/housing-equity-symposium. 3

Boulder saw unprecedented growth in its population. According to a historical survey of residential properties, over 5,000 homes were built in Boulder in 10 subdivisions during the period immediately following World War II. 9 10 Since the 1980s, residential development in Boulder decisively transitioned to multi-unit housing. Figure 1 below includes data from the U.S. Census that shows 46% of all housing built between 1980 and 1999 were multi-unit developments; this trend increased to 65% between 2000 and 2020.11

Firgure 1: Housing Unit Type by Build Year, 1980-1999 and 2000-2020 3%

2%

9%

6% 23%

19% 46%

7%

4%

65%

10% 65%

66%

6%

42% 27% Boulder

Nationally 1980-1999

Single Unit

2 to 4 Units

Boulder

Nationally 2000-2020

5 or More Units

Mobile home, boat, RV, van, etc.

Source: U.S. Census Bureau, U.S. Department of Commerce. "Tenure by Year Structure Built by Units in Structure." American Community Survey, ACS 5-Year Estimates Detailed Tables, Table B25127.

Since 1980, single-unit development has been consistently underrepresented in Boulder compared to national averages. Notably, middle housing (represented by the “2–4 Subdivisions include Baseline, Edgewood, Flatirons Park, Highland Park, Interurban Park, Martin Acres, Park East, Sunset Hills, Table Mesa, and Wagoner Manor. 10 Historic Context and Survey of Post-World War II Residential Architecture Boulder, Colorado. April 201.0) https://bouldercolorado.gov/sites/default/files/2021-02/ww2-survey-final.pdf 11 U.S. Census Bureau, U.S. Department of Commerce. "Tenure by Year Structure Built by Units in Structure." American Community Survey, ACS 5-Year Estimates Detailed Tables, Table B25127. 9

Units” category in the graph above) represents a small percentage of housing development nationally, but Boulder has outpaced national trends in developing this type of housing since the 1930s.15 More recently, the COVID and Post-COVID housing market and development trends have mirrored national trends. Home sales in Boulder peaked during the intense pandemic real estate frenzy. In 2025, the real estate market became more balanced, but still expensive. Looking forward, Boulder is forecasting demographic trends that point to an aging population and a sustained decline in the number of school-aged children. According to the Colorado State Demographer, the population aged 80 and older is projected to double over the next decade, while the school-aged population is expected to continue to decline. Both demographic trends are more pronounced in Boulder County than statewide.16 Together, these trends are reshaping household sizes, housing accessibility and care needs and demand for different housing types over time. That said, the relationship between housing and demographics is complex: population trends shape housing development, while housing availability, in turn, influences which households can live in a community. In this context, Boulder’s ongoing housing policy response must continue to be oriented toward resilience and adaptability to ensure that the housing stock can accommodate a wider range of ages, household types and mobility needs over time. The sections below offer a deeper exploration into more recent trends in the homeownership and rental markets in Boulder. Middle-Income Homeownership: Constrained Availability, Constrained Choice The opportunity for homeownership in Boulder for a middle-income household is daunting: 66% of all homes on the market are unaffordable to households of any size earning less than 100% of the Area Median Income (AMI).17 However, there is a clear price differentiation between attached and detached homes. Figure 2 below shows the actual for-sale housing market on a single day (Jan. 8, 2026). Each dot in Figure 2 represents a real home that a real household could consider purchasing at that moment in time. The goal of this “point-in-time” look at the real estate According to U.S. Census data, “missing middle” housing development never exceeded 19% of all housing development in Boulder (and 15% nationally). 16 Boulder County’s Demographic Outlook. Boulder Chamber Economic Forecast. Jan. 27, 2026. 17 Area Median Income (AMI) is calculated annually by the U.S. Department of Housing and Urban Development and is the midpoint of household income for a specific geographic area. Eligibility and pricing for affordable housing are typically set as a percentage of AMI, adjusting for household size. 15

market is to offer clearer understanding of what is available and affordable for households looking to live in the City of Boulder. This chart also includes reference lines of $400,000-$700,000 to offer a general affordability range for households earning between 100 to 120% AMI.

Home Price

Figure 2: Attached and Detached Home For-Sale Listings January 8, 2026

$2,000,000

$700,000 $400,000 $200,000 Attached

Detached

Source: Current MLS Listing by housing type and price. January 8, 2026.

This data shows that detached, or single unit, homeownership in Boulder is not a realistic option for a middle-income household: 99% of all detached homes are unaffordable to households of any size earning less than 100% AMI. To be able to afford the median priced single unit home in the city on this day ($1.3 million), a household would need to earn more than $460,000 per year. Notably, the AMI for a three-person household aligns with the median price of an attached home in the city, suggesting a rare point of income–price parity. The median price of an attached home on this day was $489,000. A household would need to earn about $140,000 per year to afford the median priced attached home.21

21

Price assumptions include an average HOA fee, taxes, insurance, and other related costs.

However, this median income-median price alignment does not reveal the real constraints in availability and choice. Attached homes are relatively affordable and offer more options for middle-income households. While more abundantly available, these units are often smaller, dated, offer limited amenities or have high homeowner association dues. Middle-income households are largely left with two options in Boulder’s homeownership market: exit the city to pursue ownership in neighboring communities or remain in the city while compromising on housing type, size or age. Middle-income households express preferences that vary and are not universally shared. Housing decisions are shaped by diverse values, constraints and life stages. A 2014 Boulder Housing Choice Survey explored the preferences and perspectives of residents and in-commuters.23 In this survey, most in-commuters said they are willing to compromise on their ideal housing type for Boulder’s amenities – primarily open space and proximity to the mountains – and a shorter commute. Additionally, access to a private or shared garden was the most frequently cited housing expectation among middle-income in-commuters considering attached housing types in the city. These preferences, combined with prevailing demographic trends, affect the desirability of the relatively more affordable housing products in the city. To encourage homebuying opportunities for low- to middle-income households, the city has created several programs including the Affordable Homeownership Program, which currently includes 836 affordable homes in the city, and the House to Homeownership (H2O) Down Payment Assistance Program, which has served 94 households in Boulder since 2000. A summary of these affordable homeownership programs can be found in the Jan. 7, 2026, City Council Information Item “Incentivizing Middle-Income Homeownership: A Summary of City of Boulder Programs.” The Rental Gap: Income Determines Availability Boulder’s rental housing market provides many opportunities for households earning more than 60% AMI. For households earning less than 50% AMI, there are very few market options outside of the city’s affordable housing portfolio. Housing rental data does not have a centralized source, and therefore generating a rental “point-in-time” analysis was not feasible. However, the city has completed several rental needs assessments over the past decades showing relative affordability and availability of rental housing for middle-income households. A 2016 City of Boulder Middle-Income Housing Study found that 99% of the rental units in the city were

Housing Choice Survey and Analysis. Prepared for the City of Boulder. May 12, 2014. Prepared by BBC Research and Consulting. 23

affordable to middle-income households.25 More recently, Denver Regional Council of Governments (DRCOG) Area Regional Housing Needs Assessment found in the next 10 years that the largest gap for rental housing will be for units affordable to households earning 0 to 50% AMI.26 This assessment estimates that by 2032 Boulder will have a rental unit shortage of 5,900 units: 77% of this shortage will be for units affordable to those households earning less than 50% AMI.27

Figure 3: Denver Regional Council of Governments Estimated Rental Housing Unit Gap by Area Median Income (AMI) (2023-2032) 80-100% AMI

100-120% AMI

>120% AMI

50-80% AMI 0-50% AMI

Source: Denver Regional Council of Governments, Denver Region Housing Needs Profile, City of Boulder submarket. July 2024.

Overall, rental options for households earning more than 50% AMI are abundant in the city, including housing for middle-income families. Rental opportunities for households earning less than 50% AMI are scarce in the market. To address this shortage, the city directs the majority of its affordable housing funding to organizations providing affordable rental homes for households earning less than 60% AMI.

Middle-Income Housing Study. Prepared for the City of Boulder. Jan. 4, 2016. Prepared by BBC Research and Consulting. 26 City of Boulder City Council Agenda Item. Aug. 7, 2025. 27 In 2025, 50% of the area median income (AMI) for a 1-person household was $52,750. 25

Figure 4: Percentage Boulder Affordable Rents by Area Median (AMI) Income Category (2025) 61%-100% AMI

0-50% AMI

51%-60% AMI

Source: Affordable Housing in the City of Boulder Data Dashboard: https://bouldercolorado.gov/bouldermeasures/affordable-housing-boulder.

While units may have an affordability covenant for 60% AMI, the city’s housing authority (Boulder Housing Partners) rents a significant percentage of homes at lower income levels. Figure 5 below shows the actual incomes of people living in affordable housing. While private developers have created permanently affordable housing in the community, those rents are typically not as deeply affordable as those provided through Boulder Housing Partners.

Figure 5: Area Median Income (AMI) Distribution of Affordable Housing Renters (2024)

0-30% AMI

31%-60% AMI

61%-80% AMI

81% AMI or greater

Source: Affordable Housing in the City of Boulder Data Dashboard: https://bouldercolorado.gov/bouldermeasures/affordable-housing-boulder. See "Demographics" tab for demographic characteristics of affordable renters and owners.

There is a greater need in the community to provide “deeply affordable” homes, which are affordable to those households earning less than 30% AMI and are often targeted to populations with very low income, such as seniors living on a fixed income, people with disabilities, lower income service workers and individuals exiting homelessness. However, to make these developments financially feasible, a significant public subsidy, such as Federal Housing Choice Vouchers or funding support from the city’s Affordable Housing Fund, is typically required. Recent examples of developments that target populations with very low income include Hilltop Senior Living and High Mar, which offer a combined 119 affordable rental homes to older adults in the community, and Lee Hill and Bluebird, which offer a combined 71 permanently supportive housing (PSH) apartments with wraparound services. Additionally, most new developments built by Boulder Housing Partners provide up to 15% of units as deeply affordable PSH apartments. This focus on building deeply affordable units throughout the community is consistent with the DRCOG Housing Needs Assessment, and the city will continue to prioritize the creation of these developments.

City of Boulder Housing Policy Responses Supply and Demand Side Interventions Thoughtful and impactful housing policy interventions have been implemented and modified for decades in Boulder. As briefly discussed above, these interventions have been broadly successful in creating both more market rate housing and permanently affordable homes for populations that are most in need of deeper affordability. Supply-side policies shape the long-term availability and price trajectory of housing, while demand-side policies determine who can access affordable housing. Effective housing strategies typically require both types of interventions. The City of Boulder has a robust portfolio of both supply-side and demand-side interventions. The two tables below offer a summary of the current supply-side and demand-side housing policy interventions.

Table 1: Supply-Side Housing Policy Interventions Intervention

How It Works

Goals / Outcomes

City of Boulder Approach

Zoning reform (land use code changes)

Allows more homes per parcel, more housing types, and more people per home

Increases total housing production; moderates long-term price growth

Family-Friendly Vibrant Neighborhoods (2025) Occupancy Reform (2023-2025) Removal of Residential Growth Management System (2023) Zoning for Affordable Housing (2023)

Height and density bonuses

Grants additional height and density in exchange for community benefit as part of Site Review

Generates additional housing at a lower cost while providing community benefit (typically on-site permanently affordable homes or increased fees)

Community Benefit Program (2019)

Inclusionary housing

Requires new residential development to contribute towards affordable housing

Creates permanently affordable homes tied to growth and generates funds for affordable housing

Inclusionary Housing Program (2000)

Public land disposition

Uses publicly owned land for affordable housing

Reduces development costs; enables deeper affordability

Land Banking activities led by City of Boulder, Boulder Housing

Intervention

How It Works

Goals / Outcomes

City of Boulder Approach Partners, and the school district (ongoing)

Low-Income Housing Tax Credit (LIHTC)

Federal tax credits finance affordable rental development

Scales rental production nationwide

Administered by Boulder Housing Partners and other non-profit and forprofit developers (ongoing)

Local housing trust funds

Dedicated revenue funds affordable housing

Flexible, locally controlled funding

Affordable Housing Fund (2000)

Streamlined permitting

Reduces time, cost, and uncertainty in approvals

Lowers development costs

Fast Track implementation work related to Proposition 123 (ongoing)

Accessory Dwelling Unit (ADU) deregulation

Enables backyard cottages on existing singleunit lots

Adds incremental, lower-cost housing options

Local update with recent state legislative requirements (2025)

Community Housing Assistance Program (1991)

Accessory Dwelling Units (2018-2025)

Table 2: Demand-Side Housing Policy Interventions Intervention

How It Works

Goals / Outcomes

City of Boulder Approach

Housing Choice Vouchers

Subsidizes rent paid by low-income households

Immediate affordability; household choice

Federal Housing Choice Vouchers administered by Boulder Housing Partners (ongoing)

Rent subsidies

Prevents displacement

Requires ongoing public funding

Funding from the Eviction Prevention and Rental Assistance Services Program (2020) and the Human Services Fund (1994) enables rental assistance provided by the city and nonprofit agencies

Intervention

How It Works

Goals / Outcomes

City of Boulder Approach

Homebuyer assistance

Down payment assistance, closing cost assistance.

Expands access to homeownership

H2O: House to Homeownership Down Payment Assistance Program (2000)

Homes sold at below market-rate prices to income eligible buyers to owner-occupy the homes

Solution Grant Program Boulder Regional Affordable Homeownership Program (1991)

Intervention

How It Works

Goals / Outcomes

City of Boulder Approach

Property tax relief

Reduces housing cost burden for owners

Helps seniors and fixedincome households stay housed

Senior Homestead Property Tax Exemption (Boulder County)

Income supports

Increases household financial stability and purchasing power

Addresses affordability across all goods, including housing

Elevate Boulder (2023)

Emergency rental assistance

Short-term help during crises

Prevents eviction and homelessness

Eviction Prevention and Rental Assistance Services Program (2022)

Tenant protections

Limits non-fault evictions

Reduces displacement

Eviction Prevention and Rental Assistance Services Program (2022)

Expanding Affordable Housing Innovations In addition to the conventional housing policy options summarized above, Housing and Human Services continues to pursue the following specific affordable housing policy innovations:

31

•

Integral Partnerships. 74% of all permanently affordable rental homes in Boulder were developed by a non-profit development partner, most commonly Boulder Housing Partners.31 Local nonprofit development partners leverage financing from the Low-Income Housing Tax Credit (LIHTC) program with gap funding from local sources, including the city’s Affordable Housing Fund, to produce thousands of affordable rental homes. By leveraging state and federal funding with local funding sources, these partnerships have contributed to the city’s ability to outperform the Inclusionary Housing regulatory requirement of 25% affordability: in the past 10 years, for every 100 new homes built in the city, 37 permanently affordable homes were created.

•

Community Supported Fees. Through the adoption of fees, the Boulder City Council and the community have sent a consistently strong message about their support for the development of affordable housing. The most recent examples of this support include Residential Impact Fee (2025), Boulder County’s Affordable and Attainable Housing Tax (2023), Inclusionary Housing Program Regulatory updates (2022) and statewide support for Proposition 123 (2022). With this explicit support from City Council and the community, the City of Boulder’s

In 2025, 173 of the 186 new affordable homes were developed and managed by Boulder Housing Partners.

Housing and Human Services Department can strategically invest in affordable housing throughout the community. Boulder invested $19.3 million in affordable housing in 2025, which is the largest one-year investment from the Affordable Housing Fund since its creation.33 •

BoulderMOD. BoulderMOD is a unique partnership with Flatirons Habitat for Humanity and the Boulder Valley School District that has the capacity to build up to 50 permanently affordable homeownership townhomes or condominium homes per year while providing workforce training for high school students. Recognizing that the market is not producing starter homeownership opportunities, this city investment will continue to provide opportunities for middle-income households for years to come.

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Boulder County Regional Housing Partnership. The Boulder County Regional Housing Partnership (BCRHP) is a countywide partnership established in 2018 to collectively recognize and collaboratively tackle the region’s affordable housing challenges. The primary goal of the BCRHP is to ensure that 12% of all the housing units in the region will be permanently affordable. Attachment D includes a snapshot of the regional data dashboard that tracks this goal. In 2024, the BCRHP implemented a centralized Boulder Regional Affordable Homeownership Program to expand the scope of the City of Boulder’s Affordable Homeownership Program to all regional partners with the goal of growing the permanently affordable homeownership stock across the entire Boulder County region. City staff are active participants on BCRHP’s steering committee and continue to work collaboratively with regional partners to expand affordable housing development and expertise throughout the region.

•

Middle-Income Acquisition and Rehabilitation Program. Beginning in 2021, the city began purchasing market-rate homes, rehabilitating these homes, and re-selling to income-eligible buyers in the City’s Affordable Homeownership Program. To date, the City has acquired and sold 17 below market rate homes to income-eligible buyers earning up to 120% AMI. Each home purchased by the City of Boulder is made permanently affordable and governed by an affordability covenant that limits resale price and places other restrictions on the home. Given the current real estate market conditions, this model of acquisition/rehabilitation represents the most cost-effective and immediate strategy to expand affordable homeownership opportunities for low- to moderate-income households in the Boulder County region. Rather than building new homes, the program focuses on

Total amount spent in 2025 from the City Affordable Housing Fund (AHF) and the Community Housing Assistance Program (CHAP). 33

acquiring existing homes on the open market and rehabilitating them to meet livability standards. This program is scaled based on the availability of resources. •

Proposition 123 and Boulder County Affordable and Attainable Housing Tax. These two voter-supported initiatives, respectively approved in 2022 and 2023, offer unprecedented support for the creation of affordable housing in the city, county and state. In 2025, city programs were awarded over $4 million in Proposition 123 funds to support two initiatives: the Owner-Occupied Repair and Replacement Program for single-unit dwellings and the Regional Scattered Site Acquisition and Rehabilitation Program. The City of Boulder also received $3.09 million in 2025 from the County’s Affordable and Attainable Housing Tax and can expect similar amounts in future years.

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Bloomberg-Harvard Innovations. In 2025, a cross-departmental team of city staff participated in The Bloomberg-Harvard City Leadership Initiative Innovation Track. Throughout this year-long management program, the City of Boulder chose to tackle the key priority of designing and prototyping innovative solutions for middle-income affordable/attainable housing. The “Ambitious Impact Mission” that resulted from this was the following: by 2035, Boulder will expand and sustain innovative, attainable housing options to create a more vibrant and inclusive community reflecting people from all backgrounds. Three ideas that originated during this process that will be further explored in 2026 include establishing a Boulder Home Sharing Program, expanding the Housing Legacy Program, and expanding low-cost financing options for affordable housing development. City staff will continue to explore these innovations in 2026.

In addition to these innovations, Housing and Human Services will continue working to expand affordable housing opportunities in the community. Housing and Human Services is currently working with Boulder Housing Partners, private developers, BoulderMOD and approved annexations that represent 18 different affordable housing developments. These developments represent a pipeline that is expected to deliver more than 900 additional affordable homes in the next five years; this growth would represent a 20% increase in Boulder’s affordable housing stock. These homes include 730 rental homes and 155 middle-income homeownership homes.

Anticipated Fiscal and Workplan Impacts There is no fiscal impact estimate associated with this item at this time. If ongoing staff discussions lead to a potential change in the program in exchange for a city investment in infrastructure and funds, staff will return to City Council with a specific proposal for consideration.

Equity Analysis Staff did not conduct an equity analysis for this overview. However, Housing and Human Services staff regularly utilize the city’s racial equity tools for affordable housing assessments. Most recently, the Rapid Response Equity Assessment was utilized for the Residential Impact Fee and Inclusionary Housing update; the city and partner agencies also conducted a racial equity assessment of the Boulder County process for the Regional Housing Partnership compliance program Intergovernmental Agreement. As noted in the analysis above and in the attached timeline, the history of racially segregated housing policy in Boulder has roots in both exclusion and inclusion. Public policy excluded people of color from neighborhoods and wealth generation opportunities and targeted people of color to be included in predatory lending practices. For decades, the City of Boulder has actively worked to maintain existing affordable homeownership and rental units and increase the stock of permanently affordable housing.35 Today, residents of affordable housing in Boulder are more racially, ethnically and economically diverse compared to the general population. Residents of affordable housing in Boulder are also more diverse in their ability status.36 Offering diverse housing options for all people is a core value of the Housing and Human Services mission. Housing stability is key to reducing intergenerational poverty and increasing economic mobility. Accessibility to quality affordable housing has been shown to improve quality of education, health and well-being, personal relationships, security and financial outcomes.

Climate, Resilience, and Sustainability Considerations No considerations are anticipated.

Community Engagement No community engagement was conducted.

Affordable Housing Data Dashboard: https://bouldercolorado.gov/boulder-measures/affordable-housingboulder. See "Demographics" tab for demographic characteristics of affordable renters and owners. 36 City of Boulder, Boulder County, City and County of Broomfield, City of Longmont: Draft 2020-2024 Consolidated Plan for Housing and Community Development, page 53. 35

Next Steps for City Council To build upon the city’s robust affordable housing program, City Council can continue to support housing policies that expand housing choices for low- to middle-income households currently priced out of the market. In 2026, these innovations include: •

Continue advancing zoning reforms that enable a broader mix of housing types. New residential construction in Boulder remains expensive. Zoning changes that allow greater density or a wider range of housing types have not immediately produced market-affordable homes. However, building a diversity of housing, ranging from duplexes, townhouses and multi-unit developments, is essential to increase resilience to demographic change. Reducing regulatory barriers to encourage a diversity of housing types will expand the overall mix of units delivered over time, supporting long-term adaptability to changing household sizes, incomes and demographic needs.

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Prioritize deep subsidies where rental affordability gaps are most acute. Deep subsidies targeting development or acquisition of rental homes affordable to households below 50% AMI is a documented need in Boulder. Continuing to prioritize support for deeply affordable homes and permanent supportive housing can help align affordability requirements with observed rent gaps.

•

Refine and expand city-supported down payment assistance program for middle-income households. The City’s H2O Down Payment Assistance Program is showing more interest and success even in the current high-interest rate environment. Staff will explore modifications that expand participation in this program.

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Maintain strong support for the Inclusionary Housing (IH) Program. Boulder’s IH Program remains the most effective tool for addressing locally identified housing gaps. Cash-in-lieu contributions to the Affordable Housing Fund through the IH program are crucial to supporting the interventions described above. Continued City Council support for this program is instrumental for the city to continue to meet its housing goals.

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Sustained support for staff-led innovations. Affordable housing innovation is incremental and complex. Past City Council support for experimentation has produced meaningful outcomes, and continued backing by council is necessary to test, refine and scale new approaches.

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Attachments Attachment A: City of Boulder Affordable Housing Heat Map Attachment B: Timeline of City Affordable Housing Efforts Attachment C: City of Boulder Affordable Housing Data Dashboard Attachment D: Boulder County Regional Housing Partnership Affordable Housing Data Dashboard