What HUD offices serve Lake Dallas, 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 Lake Dallas.
How many renters live in Lake Dallas, Texas?
The City of Lake Dallas has 7,682 people living in 2,885 households.
There are 1,862 renters living in 793 renter households in this City. Renters make up 24.24 percent of the population living in Lake Dallas.
What is the rental market like in Lake Dallas, Texas?
There are an estimated 3,063 housing units in the Lake Dallas area. Of these, 951 units are rental homes, making up 31 percent of the housing market. For every renter household in Lake Dallas, Texas, there are 1 rental units.
What is the vacancy rate for rentals in Lake Dallas?
The rental vacancy rate in Lake Dallas is 7 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 Lake Dallas for each bedroom size?
Occupied Rental Units by Size in Lake Dallas
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 364 | 334 | 95 | 0 |
Occupied Rental Units by Size in Lake Dallas
A large number of apartments in Lake Dallas 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 Lake Dallas are overburdened by housing costs?
Among renter households in this market, 46 percent have housing cost burden. Further, 35 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 Lake Dallas
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,426 to $2,847. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,426 |
| One BR | $1,500 |
| Two BR | $1,758 |
| Three BR | $2,212 |
| Four BR | $2,847 |
2024 Fair Market Rents in Lake Dallas, Texas
How many units are rented at Fair Market Rent (FMR) in Lake Dallas?
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 | 364 | 100 percent |
| Two BR | 73 | 22 percent |
Rental Units Below FMR in Lake Dallas, Texas
How many affordable rental units are in Lake Dallas?
There are a variety of federal affordable housing programs serving households in Lake Dallas, Texas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 224 |
| USDA Section 515 Rural Rental Housing | 40 |
Tracked Units by Federal Program in Lake Dallas, Texas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Lake Dallas, Texas
Lake Dallas features 40 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 Lake Dallas, Texas
There are 184 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Dallas.
Housing Choice Vouchers in Lake Dallas, Texas
On average, Section 8 Housing Choice vouchers pay Lake Dallas landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in Lake Dallas.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Dallas, Texas for a two-bedroom apartment is between $1,582 and $1,934.
Sourced from federal housing data and AffordableHousingOnline.com research.
