What kinds of people rent from Fulcrum?
Fulcrum rents homes to working middle-income households. That covers people in all kinds of jobs in all kinds of organizations, people who help keep our communities growing, fun, healthy, stable, and safe.
What does “working middle-income” mean, exactly?
“Middle-income household” means that the sum total of all incomes for all adults residing in the home must be between 80% and 140% of median household income for the county in which the home is located. That 80%-140% range is where the middle 1/3 of Colorado households fall, so that’s how we define “middle” income.
We use the Adjusted Gross Income (AGI) line on Form 1040 of your Federal Tax Returns as your household’s income, and we require that at least 90% of your AGI must come from Section 1 of Form 1040 (Wages, Salaries, and other non-investment income), which is how we define “working."
Remember, income is a HOUSEHOLD metric — not an individual metric; we add up all the incomes of all the adults living in the home to calculate the household’s income: spouses, partners, roommates, adult children, elderly parents, etc.
To get a rough estimate of where your household’s income ranks relative to a county’s median household income, use the table of 2022 county median incomes shown here.
How to use the table
If an example household’s income is $85,000 and they want to rent a house in Summit County where the county median income is $100,611, then that household’s income is 85% of median (household income divided by median income x 100 = percentage). Since Fulcrum can rent to households making 80% to 140% of median household income, the example household would be eligible to rent from Fulcrum in that county.
NOTE: Each specific Fulcrum home has its own narrower income requirement, which fits within the overall Fulcrum income band. You must be in the broad Fulcrum income band to rent from Fulcrum AND in the property-specific income band to rent that particular property.
A few more things to know before you apply
Fulcrum residents have excellent credit and rental histories, and no criminal record.
Our residents also share some important values:
Fulcrum residents value housing security that does not require buying. They like knowing that they can put down roots and live in their home for as long as they want, assured that the rent will never increase by more than 2% per year.
Fulcrum residents also value good neighbors — living among them, and being one as well. Accordingly, Fulcrum residents embrace the high standards in Fulcrum’s Good Neighbor Program.
Fulcrum residents value saving thousands of dollars per year with the 20% Good Neighbor CoPay that Fulcrum contributes to their rent each month in exchange for being a Good Neighbor.
Ready to get started?
If this all sounds good to you, the next step is to learn about the process between selecting a property and moving in. What will you need to provide, when will you get a decision, and what will you have to pay at various dates?
Our goal is to make sure there are no surprises.
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