How many renters live in Albany County, Wyoming?
The County of Albany County has 37,525 people living in 16,290 households.
There are 15,673 renters living in 8,055 renter households in this County. Renters make up 41.77 percent of the population living in Albany County.
What is the rental market like in Albany County, Wyoming?
There are an estimated 18,634 housing units in the Albany County area. Of these, 8,751 units are rental homes, making up 47 percent of the housing market. For every renter household in Albany County, Wyoming, there are 1 rental units.
What is the vacancy rate for rentals in Albany County?
The rental vacancy rate in Albany County is 6 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 Albany County for each bedroom size?
Occupied Rental Units by Size in Albany County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 315 | 1,715 | 2,764 | 1,894 | 1,008 |
Occupied Rental Units by Size in Albany County
A large number of apartments in Albany County 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 Albany County are overburdened by housing costs?
Among renter households in this market, 54 percent have housing cost burden. Further, 32 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 Albany County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $767 to $1,726. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $767 |
| One BR | $841 |
| Two BR | $1,017 |
| Three BR | $1,433 |
| Four BR | $1,726 |
2024 Fair Market Rents in Albany County, Wyoming
How many units are rented at Fair Market Rent (FMR) in Albany County?
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 | 245 | 78 percent |
| One BR | 1,156 | 67 percent |
| Two BR | 1,807 | 65 percent |
Rental Units Below FMR in Albany County, Wyoming
How many affordable rental units are in Albany County?
There are a variety of federal affordable housing programs serving households in Albany County, Wyoming including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 193 |
| Public Housing | 76 |
| Section 8 Project-Based Rental Assistance | 115 |
Tracked Units by Federal Program in Albany County, Wyoming
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Albany County, Wyoming
Albany County features 456 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 Albany County, Wyoming
There are 156 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Albany County.
Housing Choice Vouchers in Albany County, Wyoming
On average, Section 8 Housing Choice vouchers pay Albany County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Albany County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Albany County, Wyoming for a two-bedroom apartment is between $915 and $1,119.
Sourced from federal housing data and AffordableHousingOnline.com research.
