Blog
Prop 123: Addressing our State’s Housing Crisis
More than half of Coloradans can no longer afford to live here, and 86% of Coloradans say the rising cost of housing is a serious concern. As a result, we’re losing the state we love.
Without raising taxes, Prop 123 will make housing more affordable for working people by providing down payment assistance for first-time homebuyers, lowering rent, and building more affordable housing across the state.
The Challenge:
Colorado is becoming less affordable for those of us who call it home. The soaring cost of housing is outpacing wages across our state, leaving many Coloradans unsure of the future. Teachers, nurses, and firefighters continue to be priced out of the cities where they work, which robs us all of the essential services our communities need to thrive. At the same time, generations of families can no longer expect to build the lives they’ve always desired together.
- Prices have Doubled – Home prices have doubled in the last ten years and one-third of Coloradans worry about losing a home because they can’t afford the rent or mortgage.
- Supply is Low – Supply is dangerously low and Coloradans are struggling to find housing. 40% fewer units were built from 2010-2020 compared to 2000-2010.
- Homelessness has Skyrocketed – The number of unhoused Coloradans has grown 266% since 2007, with taxpayer dollars being ineffectively spent to address the issue.
- Renters will become Housing Burdened – If rents continue their five-year trends, by 2032 a renter would need an annual income of more than $106,000 to afford median rent in Colorado.
- Prices will Rise Exponentially – f home prices continue to rise as they have over the last five years, by 2032 the median single-family home in Colorado will cost nearly $1.7 million.
- Owning a Home will be Impossible to Many – To qualify for a 30-year mortgage in 2032, buyers would need an annual income of $372,000+ after making a 20% down payment of $339,000.
South Metro Housing Options stands in favor of Proposition 123, and has joined a growing coalition of 180+ organizations and local community leaders supporting this measure, which will be on statewide ballots this fall.
If you’d like to join us in supporting this historic opportunity to make Colorado affordable for generations of Coloradans, you can take these steps:
- Email the campaign directly at info@yeson123co.com to share your story, especially if you’ve experienced our housing crisis firsthand and especially if you or someone you know is an essential worker like a teacher, nurse, firefighter or first responder. While every Coloradan makes our state unique, we know these types of stories from essential workers, many of whom are vanishing from our neighborhoods due to the housing crisis, are powerful motivators for voters. Any help you can provide will assist the campaign as we actively work to give Coloradans a chance to have their voices heard.
- Sign up for the Prop 123 campaign newsletter, which will provide updates on the campaign as well as ways to get involved
- Consider sharing these messages on your social media platforms or with your friends, family and neighbors
