COLORADO SPRINGS — Pikes Peak Habitat for Humanity has been awarded a $15,000 grant from the Wells Fargo Foundation as part of its nationwide initiative to help low to moderate income families build and improve their homes across the U.S.

The new home will be built in Colorado Springs in The Ridge at Sand Creek, a Pikes Peak Habitat for Humanity community.

According to PPHFH, at least one in seven Colorado households spend over half of their income on housing, and the number of Colorado Springs families who are struggling to afford rent is on the rise.

The median rent for a three-bedroom unit in Colorado Springs is $1,940/month, and to afford this rent without paying more than 30% income requires a salary of $77,600/year or $37/hour.

That’s almost THREE full-time jobs at minimum wage ($12.56/hr).

But working with community partners like Wells Fargo, PPHFH says it’s able to help build attainable housing for qualified El Paso County residents so that they can purchase a Habitat home with an affordable mortgage.

“Habitat’s mission statement includes bringing people together to build homes, community, and hope,” says Kris Lewis, Pikes Peak Habitat for Humanity Executive Director/CEO. “By working with Wells Fargo we are making this a reality in Colorado Springs.”

This funding is part of a $7.75 million donation to Habitat for Humanity International through the Well Fargo Builds program to support the construction, renovation and repairing of more than 350 affordable homes across the U.S.