The real estate economy and rent prices have skyrocketed in recent times causing a wide array of new project developments and communities to be built in the coming years. For now, the price of a home is also soaring with the average price for a single-family home is $416,495. With 1,862 new homes currently available on NewHomeSource.com in over 320 communities the life in Colorado continues to grow and amaze its residences. Most of whom are benefiting from the influx and economic growth in the communities but, for some that’s simply not the case.
Sure all of the added money in the economy is creating new jobs, adding stability and bringing the community closer together but, on the back side it also drives the cost of living while other housing projects can be built to accommodate the new residents. Some prices so high that they are pushing some residents out of their very own home.
With so many new residents it truly is easy to forget about your current residents, including the homeless. Thinking about the less fortunate is something not everyone can say that they do especially when money is to be made. Denver’s very own landlords are trying to figure out exactly how to give back to the community, so they did. With a great new program that gives landlords a slight money incentive and check for repairs it allows the homeless a place to stay at a discounted monthly rent. Colorado Housing Connects, connects the homeless in need with Landlords who have agreed to offer their homes at a discounted rate.
A step in the right direction and showing your commitment and desire to give back to your community can go a long way in today’s society. The program is just beginning and plans to partner with as many landlords as they can to give back as much as they can. So while the real estate market is boasting and new residents move in everyday to brand new homes society has not forgotten about those in need.
Zach Escabedo is an analyst for New Home Source.