What HUD offices serve Canyon, Texas?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Texas Public Housing and Low-Income Apartments Waiting Lists page for openings near Canyon.
How many renters live in Canyon, Texas?
The City of Canyon has 15,089 people living in 5,209 households.
There are 5,454 renters living in 2,374 renter households in this City. Renters make up 36.15 percent of the population living in Canyon.
What is the rental market like in Canyon, Texas?
There are an estimated 5,813 housing units in the Canyon area. Of these, 2,580 units are rental homes, making up 44 percent of the housing market. For every renter household in Canyon, Texas, there are 1 rental units.
What is the vacancy rate for rentals in Canyon?
The rental vacancy rate in Canyon is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Canyon for each bedroom size?
Occupied Rental Units by Size in Canyon
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 81 | 584 | 851 | 678 | 180 |
Occupied Rental Units by Size in Canyon
A large number of apartments in Canyon 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 Canyon are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 26 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 Canyon
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $754 to $1,728. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $754 |
| One BR | $879 |
| Two BR | $1,082 |
| Three BR | $1,482 |
| Four BR | $1,728 |
2024 Fair Market Rents in Canyon, Texas
How many units are rented at Fair Market Rent (FMR) in Canyon?
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 |
| Studio | 81 | 100 percent |
| One BR | 403 | 69 percent |
| Two BR | 512 | 60 percent |
Rental Units Below FMR in Canyon, Texas
How many affordable rental units are in Canyon?
There are a variety of federal affordable housing programs serving households in Canyon, Texas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 73 |
| Public Housing | 44 |
Tracked Units by Federal Program in Canyon, Texas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Canyon, Texas
Canyon features 44 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 Canyon, Texas
There are 76 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Canyon.
Housing Choice Vouchers in Canyon, Texas
On average, Section 8 Housing Choice vouchers pay Canyon landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Canyon.
The maximum amount a voucher would pay on behalf of a low-income tenant in Canyon, Texas for a two-bedroom apartment is between $974 and $1,190.
Sourced from federal housing data and AffordableHousingOnline.com research.
