How many renters live in Ordway, Colorado?
The City of Ordway has 1,874 people living in 555 households.
There are 658 renters living in 175 renter households in this City. Renters make up 35.11 percent of the population living in Ordway.
What is the rental market like in Ordway, Colorado?
There are an estimated 627 housing units in the Ordway area. Of these, 175 units are rental homes, making up 28 percent of the housing market. For every renter household in Ordway, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in Ordway?
The rental vacancy rate in Ordway is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Ordway for each bedroom size?
Occupied Rental Units by Size in Ordway
Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
---|---|---|---|---|
0 | 22 | 119 | 34 | 0 |
Occupied Rental Units by Size in Ordway
A large number of apartments in Ordway have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Ordway are overburdened by housing costs?
Among renter households in this market, 62 percent have housing cost burden. Further, 31 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Ordway
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,023 to $2,178. FMRs are updated annually by HUD for every city and county nationwide.
Bed Size | 2024 Fair Market Rents |
Studio | $1,023 |
One BR | $1,030 |
Two BR | $1,353 |
Three BR | $1,660 |
Four BR | $2,178 |
2024 Fair Market Rents in Ordway, Colorado
How many units are rented at Fair Market Rent (FMR) in Ordway?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
One BR | 20 | 91 percent |
Two BR | 58 | 49 percent |
Rental Units Below FMR in Ordway, Colorado
How many affordable rental units are in Ordway?
There are a variety of federal affordable housing programs serving households in Ordway, Colorado including the following:
Federal Program | Unit Count |
Section 8 Project-Based Rental Assistance | 28 |
USDA Section 515 Rural Rental Housing | 32 |
Tracked Units by Federal Program in Ordway, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Ordway, Colorado
Ordway features 60 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Ordway, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ordway.
Housing Choice Vouchers in Ordway, Colorado
On average, Section 8 Housing Choice vouchers pay Ordway landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ordway.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ordway, Colorado for a two-bedroom apartment is between $1,218 and $1,488.
Sourced from federal housing data and AffordableHousingOnline.com research.