YVHA Fact Sheets
To view the fact sheets in an interactive flipbook, click on the document image. To download the full PDF click the “Download PDF” button.
FAQs
Check out our FAQ page specific for the Cottonwoods at Mid Valley property here: Frequently Asked Questions (FAQs) for The Cottonwoods at Mid Valley
- The Routt County Board of County Commissioners and the City Council of Steamboat Springs established the Yampa Valley Housing Authority in 2003 to address the on-going issue of affordable housing. They charged the organization with planning, financing, acquiring, managing and operating housing programs for low- and moderate-income residents employed in Routt County.
- When YVHA was formed, YVHA accepted assets and liabilities from the Regional Affordable Living Foundation (RALF) and at a later date accepted assets and liabilities from Habitat for Humanity of Routt County.
- In 2017, Steamboat Springs voters approved Referendum 5A, a one-mill levy that provides YVHA with a dedicated funding source to spur the development of permanently attainable housing for low to moderate income residents.
We have a severe affordable housing crisis. For the last forty years, the demand for housing affordable to the local workforce has greatly outpaced the supply. The magnitude continues to explode, and the gap will continue to grow until we make a significant investment in housing.
- A 2024 Harvard study shows 42.6% of households in Steamboat & Craig pay more than 30% of their income on rent.
- Doing nothing keeps us on track to hollow out the entire middle class of Steamboat Springs and with it, the community we love.
- Steamboat is losing young people. According to the Colorado Futures Center, 25-45- year- olds are the fastest declining age group in Steamboat Springs. And the 2023 Young Professionals Network survey found that more than ⅔ of the people surveyed fear housing costs will force them to leave town.
- Workers cannot afford to buy homes: A local household needs to earn more than $200,000 annually to afford a median single-family home in Routt County.
Our community needs affordable and attainable housing options for our workforce including hospitality staff, nurses, teachers, law enforcement and others who keep our community functioning and our economic future vital.
Without affordable housing, middle class families will continue to leave the community.
The school district, the hospital, the City of Steamboat Springs, and local businesses have all identified housing as the number one barrier for staff recruitment and retention.
YVHA is the affordable housing expert in the Yampa Valley.
- Since YVHA was established in 2003 by the City of Steamboat Springs and Routt County, it works on four main issues:
- Affordability – YVHA provides diverse housing options the local workforce can afford.
- Availability – YVHA increases the number of available homes.
- Stability – Safe, stable and affordable housing is the foundation for a healthy and thriving community.
- Mobility – Spending 30% or less of one’s income on housing creates an environment where individuals can save for other expenses including future home ownership.”
- YVHA leverages public resources to create affordable housing at a 10:1 ratio.
- YVHA has a track record of building housing by getting grants, tax credits and development partnerships. Since 2016, YVHA has leveraged $4.5 m in revenue from the community (mill levy) to create $103m+ in developments. We have been awarded $47.8 million in federal, state grants, and tax credits.
- YVHA is fiscally responsible: YVHA works private developers to ensure that every project is fully funded before any dirt is moved.
- YVHA staff and board have expertise that saves the community money. The staff and board have expert backgrounds in affordable housing development, finance, real estate, government, engineering, property management and more allowing YVHA the opportunity to leverage this resource for each of its projects.
YVHA is overseen by a Board of Directors who are selected by the City Council of Steamboat Springs and the Routt County Commissioners.
Board terms are three years.
The Board is dedicated to the strategic and fiduciary oversight of YVHA to deliver and maintain safe, affordable, and sustainable housing for the Yampa Valley.
The Board meets at noon on the second Thursday of every month.
Board members are chosen by the City and the County through an application process every year.
Terms are three years. Click here for current members: https://yvha.org/our-board/board-members/
We are often asked about YVHA’s jurisdiction and why we aren’t building housing in Hayden and Craig.
YVHA serves all of the city of Steamboat Springs, goes west towards Milner, without including it, south to Catamount but does not include Stagecoach or Oak Creek and north but not as far as Moon Hill or Clark. YVHA collects one mill in this jurisdiction to help fund the development of affordable housing.
Hayden and Craig have their own housing authorities and the town of Oak Creek has received funding for a housing demand study.
We are working with all three municipalities to share best practices and leverage our experiences to benefit the residents of NW Colorado.
The current mill levy raises about $1 million annually which YVHA leverages to build housing developments.
YVHA has a history of leveraging community dollars to create affordable and attainable housing.
Since 2016, YVHA has leveraged $4.5 million in community funds to build 285 new homes added to 150 homes already built for the community with a total construction value of $103 million.
YVHA has had private partners on all its housing developments. YVHA works with community development partners who assume the majority of the risk to build affordable and attainable housing. YVHA also always requires cost and completion guarantees from our development partners, meaning that construction cost overruns are never passed onto others.
Our community investment of the mill levy revenue has allowed YVHA to secure $47.8 million in grants and tax credits for our developments.
The community developers we have worked with in the past include the Overland Property Group that built The Reserves, Alpenglow and Anglers 400. Gorman & Company built Sunlight Crossing and Lone Tree Trust is working with YVHA to build The Cottonwoods at Mid Valley.
The federal Low-Income Housing Tax Credit (LIHTC) subsidizes the acquisition, construction, and rehabilitation of affordable rental housing for low- and moderate-income tenants. The LIHTC was enacted as part of the 1986 Tax Reform Act and has been modified numerous times.
Not enough infill land exists in Steamboat Springs to meet the need for affordable housing.
1,400 housing units are needed now for the local workforce with more needed for the future.
When YVHA’s Anglers Four Hundred one, two and three bedroom affordable apartments became available, 700 households applied for 75 apartments.
YVHA has bought the infill lots suitable for affordable housing and also bought the last suitable lot within the Urban Growth Boundary (UGB) – the Brown Ranch.
YVHA worked with private developers to create 285 rental units in Steamboat Springs, including The Reserves, Alpenglow Village, Sunlight Crossing and Anglers Four Hundred.
YVHA is building The Cottonwoods at Mid Valley with condominiums expected in 2026.
The Reserves – YVHA invested $400,000 community dollars in partnership with Overland Property Group to build a $15 million 48-unit property for low-income residents which has been available since 2017. Residents living here include restaurant support workers, cooks, entry-level grocery workers, patient care providers, and preschool teachers.
Alpenglow – YVHA invested $525,000 community dollars in partnership with Overland Property Group to build a $23.8 million 72-unit mixed-income apartment complex. Residents here might include cooks, landscape workers, medical assistants, bus drivers, teachers, police officers, and nurses. Available since 2020.
Sunlight Crossing – YVHA leveraged $1.6 million to create a $33.2 million development with Gorman & Company, a housing developer. This project is designed for middle income households, as there is a significant local shortage in housing that is available and affordable to people in the 80 – 120% AMI range. There are also 22 market-rate units. Residents include teachers, nurses, firefighters, physical therapists, and sworn police officers.
Anglers Four Hundred – YVHA partnered with Overland Property Group to leverage its local investment of $2 million to bring roughly $14 million in state and federal tax credit equity to fund the development of this new community. This project delivers 75 rental apartments. Residents might be cooks, bartenders, servers, bus drivers, landscape workers, and teachers, among others. Available since early 2024.
The Cottonwoods at Mid Valley – Imagine owning a home in one of Colorado’s most iconic mountain communities, designed specifically for those who have helped shape Steamboat Springs into the place it is today. The Cottonwoods at Mid Valley offers a rare and exciting chance to secure your future, build equity, and invest in your family’s well-being. Priced in the low $400ks – high $600ks, these 86 one, two and three bedroom condos are attainable for Routt County’s local workforce. With Phase One set for completion in early 2026, The Cottonwoods is more than just a housing development — it’s a community built on the belief that affordable, high-quality housing strengthens the fabric of our town, benefiting current residents and future generations alike. This $110 million development is a testament to what can be achieved through collaboration. The Yampa Valley Housing Authority (YVHA) and Lone Tree Trust, LLC have partnered to bring this visionary project to life, backed by $2.34 million from the local mill levy, a generous land donation, and $4 million in federal and state grants.
Since its creation, YVHA has worked to purchase, manage and upgrade existing affordable housing.
Hillside Village Apartments – Formerly owned by the Regional Affordable Living Foundation (RALF), YVHA acquired the Hillside Village Apartments in 2007. The complex consists of one- and two-bedroom units geared toward low-income households making up to 80% of Area Median Income (AMI). Residents might include cooks and restaurant support folks, entry-level grocery workers, and medical assistants. YVHA manages this property and it always has a waitlist.
Fish Creek Mobile Home Park – In 2007, YVHA acquired this community with the help of a low-interest loan from the City of Steamboat Springs. Since the acquisition, YVHA has invested in upgrading the underground infrastructure within the Park and continues to invest in upgrading the above-ground utilities. The Park contains 68 lots. Each resident owns their own home and pays an affordable lot rent to YVHA. Ownership of homes is restricted to households who work in Routt County and use the property as their sole residence.
Whitehaven Mobile Home Park – YVHA purchased this 27-unit neighborhood in 2022 with the generous contribution of two anonymous donors and favorable loans. Like the Fish Creek Mobile Home Park, each resident owns their own home and pays an affordable lot rent to YVHA. We have set up a process to upgrade the infrastructure and eventually plan to transition ownership of the property to the residents in the form of a resident-owned co-op.
Yes. Although YVHA is a tax-exempt organization, all properties sold by YVHA will pay property taxes and mill levies. In fact, current YVHA residents in deed-restricted homes pay property taxes.
The confusion comes from residents in federally-funded rental units which are at 80% Area Median Income or below, who are individuals making $72,800 a year or less according to 2025 Housing and Urban Development rates. These individuals do not pay property taxes. The property tax exemption is a state law that does not allow taxing districts to collect taxes from those rental units.
In the past, the process for deciding who gets housing at rental properties was managed for new developments have been decided by the developer and property manager. The YVHA board developed a lottery policy is based on community input and best practices in other communities. The lottery will be used for the condo sales at The Cottonwoods at Mid Valley.
Although many developers label their homes as affordable, when YVHA states that their homes are affordable, it means following the federal standard of rents or mortgages that are approximately 30% of income.
In today’s housing market, where prices are skyrocketing and homeownership feels out of reach, Steamboat’s local workforce faces increasing challenges in achieving homeownership and establishing long-term roots in our community. Deed restrictions have proven to be an effective tool, increasing the availability of affordable homes while ensuring lasting affordability for future buyers.
It’s true that these homes don’t appreciate at the same rate as the open market and must be sold to a qualified local buyer. However, these limitations are outweighed by the benefits they provide.
For many in our community, deed restrictions are a lifeline to homeownership in an otherwise unaffordable market. The rapid increase in rent and property prices has left local workers with few viable options to purchase a home. Deed-restricted properties give them the security of a stable mortgage, the affordability they need, and the freedom that comes with owning their own home. These homes provide stability, enabling workers to put down roots in the community they serve and invest in their future. While the trade-offs exist, for many, the opportunity to own a home in an increasingly competitive market is more than worth it.
Click here for more information on Deed Restricted Home Ownership
Area Median Income (AMI) is a measure used to determine the median, or middle, income of a specific area. It is a crucial metric in the housing industry, used to assess the affordability of housing and to set eligibility criteria for various housing programs.
The current annual AMI is published every Spring by the Colorado Housing and Finance Authority (CHFA) and is based on the latest data provided by HUD. Here are facts and a breakdown chart of the AMI for different household sizes in Routt County:
–AMI has significantly increased, at almost 50% (actual: 48.9%), since 2020. By contrast, earned (W2 income) wages have increased 17% for the same time period.
–In 2023, the median income for Routt County was $75,900 (100% AMI), an almost 6% increase from 2022.
–In 2024, the median income for Routt County was $83,400 (100% AMI), creating an almost 16% increase in 2 years.
–In 2025, the median income for Routt County is $91,000 (100% AMI), seeing a 9.1% increase from 2024.
Demand for affordable housing is high.
You are eligible to sign up for the waitlist for the YVHA communities we manage. To inquire about availability at other locations of properties we helped develop, please contact their management companies directly.
YVHA-Managed Rentals
Hillside Village Apartments – Fill in our Rental Interest Application
YVHA-Affiliated Rentals – please contact directly:
- Alpenglow Village Waitlist:
- Anglers Four Hundred Waitlist:
- The Reserves at Steamboat Waitlist:
- Sunlight Crossing
Businesses cannot thrive and grow because there is a staff shortage due to the lack of affordable housing options.
Results from a 2023 survey conducted by the Young Professionals Network, as part of the Steamboat Springs Chamber, showed that two-thirds of the people surveyed fear housing costs will force them to leave town. More than 60% said they pay more than 30% of their income on housing, which is the federal recommended standard.
According to the Colorado Futures Center, 25–45-year-olds are the fastest declining age group in Steamboat Springs. More young people and families are moving because they cannot afford to live here.
While we cannot predict the housing market in the future, we can say this about the difference between market-rate and deed-restricted homes:
- YVHA’s below market for sale homes will be deed-restricted, meaning that the appreciation rate will not be the same as the market-rate housing.
- In addition, restrictions like no short term rentals and only allowing people to buy who are local and work for a Routt County employer, restrict who can buy at a YVHA property.
- Buyers for market-rate homes in Routt County are different and a larger pool than buyers for deed-restricted homes.
- YVHA’s mission is to provide affordable housing. With this asset of land, we aim to have greater collaboration with the city on next steps.
- City working on an updated Community Area Plan that includes discussing the Urban Growth Boundary.
- City hired a consultant called Community Builders to work on community input for next steps for the property.
- Steamboat Springs voters have a history of voting down first attempts on projects which means that we need to reevaluate what is feasible and acceptable to the voters.
- 2009 Steamboat 700 Annexation: city council approved it, but the voters in a referendum voted it down by 20%.
- 2016-2019 West Steamboat Neighborhoods/ Brynn Grey. City Council approved annexing 191 acres and 450 homes, city voters approved annexation by 59.7% (40.3% against).
- Steamboat School District tried to build a new high school at Overlook, it failed, but two years later a new proposal passed that allowed for the construction of the Sleeping Giant K-8 school.
