Valdamar Archuleta's Addresses the Housing Crisis in Colorado Congressional District 1
A Long-Term Comprehensive Approach
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The housing crisis in District 1 is driven by rapidly escalating home prices and rental costs, which make affordable housing increasingly unattainable for many residents. This report will examine the current housing challenges, projected trends if no changes are made, and propose a solution that offers long-term stability.
This report will discuss:​
Colorado Congressional District 1, particularly in Denver, has been caught in a reactionary cycle when it comes to addressing the housing crisis. The current political system has prioritized short-term solutions and crisis management, leaving long-term structural issues unresolved. I believe this approach needs to change. It’s time for innovative and fresh action that addresses the systemic barriers preventing access to affordable housing
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Current Homeownership Statistics: As of 2023, homeownership rates in District 1 are approximately 49%, below the national average of 65%. One major factor contributing to this is the high median home price in Denver, which now exceeds $600,000.
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Current Rental Unit Occupancy: Denver’s rental market is exceptionally tight, with a 96% occupancy rate and an average rent of $1,600 per month for a one-bedroom apartment.
Projected Trends Without Intervention
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Homeownership Projections for the next decade are concerning.
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Without intervention, homeownership rates are expected to fall to 43% by 2034, as more residents are priced out of the housing market due to stagnant wages and increasing home prices. (https://www.zillow.com/research/)
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Similarly, rental occupancy rates are expected to remain high, tightening the market further and exacerbating the affordability crisis. As housing costs rise while incomes stagnate, many residents may struggle to afford stable housing, leading to increased pressure on the rental market. (https://censusreporter.org/profiles/50000US0801-congressional-district-1-co/)
Economic Impact
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The in District 1 reveals that the median household income is approximately $72,000. However, wage growth has not kept up with the increasing cost of living, particularly in housing. This creates significant financial strain for many residents, especially lower-income and middle-class families, who find it challenging to afford both basic living expenses and the ability to save for homeownership. (https://www.bea.gov/data/income-saving/personal-income-by-state).
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If these trends persist, may be characterized by growing economic polarization. As housing becomes less affordable, lower-income residents could be displaced, and the district’s economic diversity may diminish. The gap between wealthier homeowners and struggling renters will continue to widen, further dividing the community. (https://www.urban.org/policy-centers/housing-finance-policy-center))
A Path Forward
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This report will explore how can help break this reactionary cycle. E.H.B. programs offer long-term, sustainable housing solutions by providing residents with the support they need to overcome financial barriers to homeownership. These programs also promote greater economic diversity, helping to stabilize the community and foster a more prosperous future for Colorado Congressional District 1.
Understanding Employee Homeownership Benefits (E.H.B.)
This report will explore how can help break this reactionary cycle. E.H.B. programs offer long-term, sustainable housing solutions by providing residents with the support they need to overcome financial barriers to homeownership. These programs also promote greater economic diversity, helping to stabilize the community and foster a more prosperous future for Colorado Congressional District 1.
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Down payment assistance,
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Homebuyer education,
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Reduced mortgage interest rates, and
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Financial counseling services
These programs aim to reduce financial barriers to homeownership, such as saving for a down payment, while improving employee satisfaction and retention. E.H.B. programs are particularly beneficial in high-cost areas like Denver, where home prices are rising faster than wages. Learn more at National Association of Realtors (https://www.nar.realtor/research-and-statistics/housing-statistics).
Benefits and Drawbacks of E.H.B. for the Workforce
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This report will explore how can help break this reactionary cycle. E.H.B. programs offer long-term, sustainable housing solutions by providing residents with the support they need to overcome financial barriers to homeownership. These programs also promote greater economic diversity, helping to stabilize the community and foster a more prosperous future for Colorado Congressional District 1.
Benefits of E.H.B.
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Increased Financial Stability: Homeownership remains one of the most effective ways to build wealth in America. According to the National Association of Realtors (NAR), homeowners accumulate significantly more wealth over time than renters due to home value appreciation and the ability to build equity (https://www.nar.realtor/research-and-statistics/housing-statistics).
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Improved Employee Retention: Research by the Society for Human Resource Management (SHRM) shows that employees who own homes are more likely to stay with their employers, improving retention and reducing turnover (https://www.shrm.org/topics-tools/news/benefits-compensation/employers-begin-offering-home-buying-support-benefits).
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Talent Attraction: Companies offering E.H.B. programs can attract top talent, particularly in markets like Denver, where housing affordability is a major concern for employees (https://www.zillow.com/research/)
Drawbacks of E.H.B.
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Disproportionate Benefit to Higher-Income Workers: E.H.B. programs often benefit higher-income employees who are already closer to homeownership, while lower-income workers may still struggle to qualify for mortgages even with assistance (https://www.urban.org/policy-centers/housing-finance-policy-center).
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Cost to Employers: Providing E.H.B. programs can be expensive for employers, especially for small businesses. Offering down payment assistance, financial education, and mortgage subsidies may divert resources from other essential benefits (https://www.shrm.org/topics-tools/news/benefits-compensation/employers-begin-offering-home-buying-support-benefits).
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Risk in Volatile Markets: In high-cost housing markets like Denver, employees who purchase homes with E.H.B. assistance may face financial risk if home prices drop, leading to negative equity or foreclosure. Read more at Zillow (https://www.zillow.com/research/)
Federal Government Involvement and Valdamar Archuleta's Role as Your Congressional Representative
Federal Government Involvement: To mitigate the challenges and improve the effectiveness of E.H.B. programs, the federal government could take the following steps:
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Federal Government Involvement: To mitigate the challenges and improve the effectiveness of E.H.B. programs, the federal government could take the following steps:
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Tax Incentives for Employers: Tax credits for companies that offer E.H.B. would reduce the financial burden on businesses, especially smaller ones, and encourage broader adoption of these programs. Read more from the U.S. Chamber of Commerce (https://www.uschamber.com/).
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Public-Private Partnerships: The government could promote partnerships between employers, housing developers, and financial institutions to increase the availability of affordable housing. For details, see Urban Institute (https://www.urban.org/policy-centers/housing-finance-policy-center).
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Federal Matching for Down Payment Assistance: A federal matching program for employer-provided down payment assistance could make homeownership more accessible for a broader portion of the workforce. Learn more at National Low Income Housing Coalition (https://nlihc.org/).
Steps Valdamar Archuleta Will Take as Your Congressional Representative
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​Dual Housing Benefit Approach: I will advocate for legislation that allows employers to offer both homeownership benefits and rental assistance. This flexible approach ensures that employees benefit regardless of their income level or readiness to own a home (https://www.nar.realtor/research-and-statistics/housing-statistics).
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Dual Housing Benefit Approach: I will advocate for legislation that allows employers to offer both homeownership benefits and rental assistance. This flexible approach ensures that employees benefit regardless of their income level or readiness to own a home (https://www.nar.realtor/research-and-statistics/housing-statistics).
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Tiered Benefit System: A tiered benefit system will ensure that lower-income employees receive rental assistance, while middle-income employees can access down payment assistance and mortgage incentives (https://www.uschamber.com/).
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Public-Private Partnerships for Affordable Housing: I will promote public-private partnerships to build affordable housing in District 1, ensuring that both renters and homeowners benefit from accessible housing options .(https://www.urban.org/policy-centers/housing-finance-policy-center)
What is Dianna DeGette's Record on Housing and Long-Term Impact?
During her time in Congress, Diana DeGette has supported housing-related initiatives, particularly during times of crisis. For example, during the 2008 financial crisis, she advocated for the Helping Families Save Their Homes Act, which allowed judges to modify mortgages for families facing foreclosure (https://www.congress.gov/). More recently, DeGette sponsored the Heating and Cooling Relief Act, which provided rental and utility assistance during the COVID-19 pandemic ([https://degette.house.gov/](https://degette.house.gov)
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Dianna DeGette has supported short-term relief during economic crises, focusing on rent and utility payment assistance. For instance, her sponsorship of the Heating and Cooling Relief Act during the COVID-19 pandemic was aimed at providing financial relief to struggling families (https://degette.house.gov/).
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While these efforts have helped prevent foreclosures and evictions, DeGette's approach has been primarily reactive, addressing crises as they arise rather than long-term solutions to the underlying housing affordability problem. Her policies have offered essential relief but have not led to the structural changes needed to ensure affordable housing for District 1’s residents over the long term (https://www.urban.org/policy-centers/housing-finance-policy-center/projects/housing-affordability-and-supply).
It’s Time to Level Up Denver
I believe that Colorado Congressional District 1 deserves more than temporary fixes—it deserves a bold, transformative approach to solving its housing crisis. My vision is centered around a future where affordable homeownership and accessible rental options a the standard, not the exception. Through innovative programs such as Employee Homeownership Benefits (E.H.B.), targeted rental assistance, and strategic public-private partnerships to develop affordable housing, we can uplift all of Denver, ensuring opportunity for every resident.
If my comprehensive housing plan is implemented, Colorado Congressional District 1 will see tangible, long-lasting benefits over the next decade:
Homeownership Rate
Homeownership rates could rise to 55% by 2034, driven by expanded E.H.B. programs and the development of affordable housing. This would reverse the current downward trend in homeownership, empowering more residents to build wealth and secure a stable future. Read more at: ((https://www.zillow.com/research/).
Rental Unit Occupancy:
Rental Unit Occupancy: Rental occupancy would stabilize at around 92%, easing the current strain on the rental market and ensuring affordable housing remains available to those who need it. This would help prevent further escalation of rent costs, making it possible for more Denverites to stay in the communities they love. You can access this information at: https://www.apartmentlist.com/research/denver-rent-report.
Economic Impact
By expanding access to both affordable homeownership and rental housing, we can increase median household income across the district. With more stable housing, residents will have greater disposable income, which can be reinvested into the local economy, further bolstering economic diversity and growth. For more information, visit: https://www.bea.gov/data/income-saving/personal-income-by-state.
The goal is not just to solve today’s housing challenges but to lay the groundwork for a vibrant, economically diverse community where hard-working residents can thrive—whether they’re aspiring homeowners or renters seeking stability. With your support, I will champion these long-term, meaningful reforms to ensure District 1 remains a place where people can afford to live, work, and raise their families.
This November, I’m asking for your trust, support, and belief that a better Denver is possible. It’s time to invest in our future and build a Denver that works for everyone—a city where opportunities are abundant, and hope is renewed. It’s Time to Level Up Denver. Let’s take this journey together and create the city of hope and promise that we all know Denver can be.