Fort Collins, Colorado, celebrated for its stunning landscapes and vibrant community, faces an interesting housing paradox. Despite experiencing stagnant population growth in recent years, the city is transforming with new apartment complexes and townhouse neighborhoods seemingly materializing overnight. It seems that the goal of the housing development is to provide more affordable housing options, yet the reality paints a different picture. As residents struggle with the rising cost of living, the housing market’s evolution raises critical questions regarding the value of these developments in addressing the affordability crisis. 

Fort Collins, never known as the most affordable city, sees homeownership becoming an increasingly exclusive dream for its residents. With a mere 55 percent homeowner rate, compared to the 64 percent in greater Larimer County and 66 percent across the state, the city’s affordability struggles are evident. In particular, the college and recent graduate community feels the financial squeeze imposed by living in Fort Collins.

Leila Gaboriau, a senior in college, voices her concerns about affordability and feeling pushed out of the city. “I would love to stay in Fort Collins after I graduate. There’s a ton of opportunities out here in my field, but I just don’t think I’ll ever be able to afford living here. If I really strain myself, I could manage, but my whole paycheck would go towards housing, and that’s just no way to live.”

Like Gaboriau, many residents are either considering leaving the city or have already done so. Once a thriving city ranked as the 12th fastest-growing metropolitan region in the nation in 2014, Fort Collins has slowly become stagnant. As of 2023, the city’s population is declining -0.29% annually, with a cumulative decline of -0.87% since 2020. 

With a slow population decline, the surge in residential construction appears to respond to the city’s well-known struggle with affordability. However, a closer examination reveals a troubling trend: the new housing options are often just as unattainable, leading residents to question whether the city is genuinely addressing or worsening the issue. 

The northeast section of Fort Collins, in particular, has seen the most growth, boasting seven development projects underway. While these developments, ranging from apartment complexes to small neighborhoods, seem to offer an opportunity for lower-cost housing, their pricing does little to support this. The Flats at Northfield, a new condominium complex in the area, prices its units from $375,000 to $535,000, with one-bedroom units approaching $400,000. On average, units in this development cost about $389 per square foot, compared to the city’s average price per square foot of $287 this year. Similar inflated prices can be seen in nearly every new development in the city.

Fort Collins now stands at a crossroads, grappling with the paradox of rapid residential growth amid a stagnant population. The seemingly obvious solution to housing affordability appears elusive as new developments fall short of providing accessible options for residents. Navigating this issue requires collaboration between local government, developers, and community stakeholders. Exploring innovative housing models, incentivizing developers to prioritize affordability, and reevaluating zoning regulations are all potential avenues for progress. These approaches are imperative to ensure that Fort Collins remains a place where residents of all income levels can thrive and contribute to the fabric that defines the unique community.