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Boulder County $1,310 $1,917 $607 46% Boulder $1,470 $2,078 $608 41% Lafayette $1,330 $1,867 $537 40% Erie $1,931 $2,442 $511 26% Housing Attainability Housing attainability examines the cost of housing relative to household incomes in the area. Key findings for Louisville include At least 74% of Louisville residents would likely be unable to afford the current average home sales price, with a greater affordability gap for Louisville renters. While rates of household cost burden decreased from 2011 to 2021, around 41% of Louisville renters and 16% of Louisville homeowners currently spend more than 30% of household income on housing expenses. Given the dramatic increase in housing costs over the past decade, it is likely because households that were cost - burdened (especially severely cost burdened) in 2011 were eventually priced out of the area and moved to areas with a lower cost of living and higher -earning households have moved into the area. Affordable Housing Income Limits Exhibit 19: Family Income by Housing Type Source: HUD & ECONorthwest Household Physical Type / Tenure of Housing Income Level (Building Focused) 100% Multifamily rentals AMI+ Multifamily ownership $144k+ Middle housing ownership Single family ownership 80-100% Multifamily rentals AMI Multifamily ownership $115k-144k Middle housing (rent/own) Single family (rent/own)_ 50-80% Multifamily (rent/own) AMI Micro -unit rentals $72k-115k Middle housing (rent/own) Tiny homes (rent/own) Single family rentals 30-50% Multifamily rentals AMI Micro -unit rentals $43k-72k Mobile homes_ 0-30% Shelters AMI Multifamily rentals $0-$43k Micro -unit rentals Mobile homes The Department of Housing and Urban Development (HUD) sets income limits each year to establish eligibility for its assisted housing programs and to define an area's Median Family Income (MFI). For these calculations, HUD includes Louisville as part of the Boulder metro area, which has a 2023 MFI of $144,100 for a family of four. To compare this number to ACS data, 2021 Louisville median household incomes were slightly higher than the 2021 Boulder metro area MFI ($125,124 to $116,900). However, it is important to note that Median Household Income is not directly comparable to HUD's MFI. HUD's MFI calculation relies on underlying Census data related Louisville Housing Plan Part 2: Housing Needs and Market Assessment 20