Martinez and Graham: Vote yes on Prop 123 to address affordable housing in Pueblo
Nearly 160,000 residents have chosen Pueblo’s small town feel under big open skies as a place to call home. And yet, more than half of us can no longer afford to live here. Unfortunately, 55% of renters in Pueblo County are spending 30% or more of their income on housing costs, while nearly 30% of homeowners are significantly burdened by housing costs.
For over a year now, leaders throughout the city and county of Pueblo have been working to change that reality for us and so many of our families and friends. This November, Proposition 123 would give us the extra support we need to transform our housing crisis so that Puebloans can continue to live, work and play here for generations to come.
For the last 50 years, the cost of housing in Colorado has outpaced the increase in wages. At the same time, we've built 40% fewer homes over the last 10 years, leaving supply dangerously low. As a result, more than half of Coloradans can no longer afford to live here — in any part of the state. Here in Pueblo, we feel the shortage immensely. In fact, a study conducted in 2021 projects that Pueblo County will need 9,561 housing units over the next decade.
But our housing needs are as diverse as our people and the lifestyles we enjoy. From the urban and suburban neighborhoods to our smaller agricultural, rural and mountainous communities, we can’t rely on just one type of housing solution. While the demand for single-family homes remains high, we’ve also got a growing population of seniors and young professionals like teachers, nurses and firefighters whose needs are vastly different. And, we need the freedom and flexibility to ensure all of our hardworking residents can continue to build the lives they’ve always desired here.
Proposition 123 will help us do just that. Without raising taxes, it will create a statewide fund that will put power in the hands of local governments and leaders like ours who are best positioned to make our housing market more affordable. As a sustainable source of funding it will allow us to expand home ownership opportunities for our vital workforce; help renters build wealth to become homeowners; require prioritized local review of building approvals; and give our local leaders the tools and resources they need to increase the number of homes that Puebloans can afford by 3% every year.
In Pueblo, we stand to gain approximately $9 million a year, which could lead to the creation of 330 affordable homes annually.
This is an opportunity that none of us in Colorado can afford to lose, especially if future estimates prove to be true. Calculations by Thrive Economics and the Colorado Association of Realtors suggest that without action, by 2032, the median single-family home in Colorado will cost nearly $1.7 million, while rent could balloon to $2,700 per month. For seniors living on fixed incomes, these numbers are untenable. For young professionals seeking to begin their careers here like I did, it’s enough to seek opportunity elsewhere.
President Graham and I (Councilor Martinez) are proud to live in a community where we were born and raised. We both ran for city council last year to bring innovative and fresh perspectives to the challenges we’ve been facing. Proposition 123 is one of the most innovative approaches to solve our housing crisis, and it’s here for all of us if we’ll simply choose it.
Let’s make Pueblo and all of Colorado affordable for those of us who call it home. We hope you’ll join us in voting YES on Prop 123 this November.
Sarah Martinez is a Pueblo city councilor for District 3 and co-facilitator for the Commission on Housing and Homelessness.
Heather Graham is the president of Pueblo City Council.
This article originally appeared on The Pueblo Chieftain: Martinez and Graham: Vote yes on Prop 123
