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The Strategic Housing Plan was adopted by City Council on February 12, 2024 as a guiding framework to address affordable housing in Lakewood over the next five to 10 years. City staff, with support from Gruen, Gruen + Associates, developed the plan based on robust data, valuable input from the community, interviews with housing and service providers, and consultation with Lakewood’s Housing Advisory Policy Commission and City Council.
The plan includes four broad strategies and accompanying action steps:
Invest in affordable housing
Expand overall affordable housing supply
Expand housing choices and services for residents
Keep residents stably housed
Implementation of the Plan will require collaboration among housing policymakers, city staff, developers and property owners, and nonprofit housing partners.
Project Background
Housing affordability has become a major challenge across the nation. Historically, Lakewood has been a relatively affordable housing market, but now residents are facing rising housing costs that have only been exacerbated by a tight Colorado housing market, COVID-19 pandemic, and inflation. As of 2022, the average sale price for a home in Lakewood was approximately $733,000 and the 2022 average rental price is rising to $1,891. Approximately 60 percent of all Lakewood renters and 20 percent of all Lakewood homeowners are paying more than 30% of their annual income on housing costs, which is considered unaffordable by the U.S Department of Housing and Urban Development.
The Strategic Housing Plan was adopted by City Council on February 12, 2024 as a guiding framework to address affordable housing in Lakewood over the next five to 10 years. City staff, with support from Gruen, Gruen + Associates, developed the plan based on robust data, valuable input from the community, interviews with housing and service providers, and consultation with Lakewood’s Housing Advisory Policy Commission and City Council.
The plan includes four broad strategies and accompanying action steps:
Invest in affordable housing
Expand overall affordable housing supply
Expand housing choices and services for residents
Keep residents stably housed
Implementation of the Plan will require collaboration among housing policymakers, city staff, developers and property owners, and nonprofit housing partners.
Project Background
Housing affordability has become a major challenge across the nation. Historically, Lakewood has been a relatively affordable housing market, but now residents are facing rising housing costs that have only been exacerbated by a tight Colorado housing market, COVID-19 pandemic, and inflation. As of 2022, the average sale price for a home in Lakewood was approximately $733,000 and the 2022 average rental price is rising to $1,891. Approximately 60 percent of all Lakewood renters and 20 percent of all Lakewood homeowners are paying more than 30% of their annual income on housing costs, which is considered unaffordable by the U.S Department of Housing and Urban Development.
The Strategic Housing Plan was adopted by City Council on February 12, 2024 as a guiding framework to address affordable housing in Lakewood over the next five to 10 years. City staff, with support from Gruen, Gruen + Associates, developed the plan based on robust data, valuable input from the community, interviews with housing and service providers, and consultation with Lakewood’s Housing Advisory Policy Commission and City Council.
