DENVER (KDVR) — According to a new survey, Colorado’s senior population has the highest eviction fears out of any other state in the nation.
The study from HelpAdvisor.com examined the level of confidence senior renters have right now.
What they found in Colorado is one in three senior renters have little to no confidence they’re going to be able to afford next month’s rent.
Researchers found more than 32,000 out of 93,000 Colorado seniors surveyed expressed eviction concerns; That’s nearly 35% of that senior group.
According to the study, two of the top factors likely contributing to this fear are high senior unemployment rates and increased housing costs.
New data from SmartAsset shows the average monthly rent for a one-bedroom apartment around Denver is hovering around $1,410 a month.
The research goes on to show the income you’d need to afford that is a little over $60,000 a year.
It’s money a lot of older Coloradans don’t have right now for a multitude of reasons.
“They were definitely very vulnerable, especially since many aren’t saving as much for retirement, they weren’t as well equipped, they’re working later on in life and retiring later, people are delaying social security and what not. So they were definitely the hardest hit,” said Christian Worstell, senior copywriter at HelpAdvisor.com and the lead author of the study.
Emergency rental assistance is another likely contributing factor.
The federal government allocated money for both renters and landlords, but only a small percentage of that money has been distributed to renters so far.