How many renters live in Torrington, Wyoming?
The City of Torrington has 6,161 people living in 2,373 households.
There are 1,691 renters living in 828 renter households in this City. Renters make up 27.45 percent of the population living in Torrington.
What is the rental market like in Torrington, Wyoming?
There are an estimated 2,679 housing units in the Torrington area. Of these, 951 units are rental homes, making up 35 percent of the housing market. For every renter household in Torrington, Wyoming, there are 1 rental units.
What is the vacancy rate for rentals in Torrington?
The rental vacancy rate in Torrington is 13 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 Torrington for each bedroom size?
Occupied Rental Units by Size in Torrington
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 240 | 310 | 139 | 105 |
Occupied Rental Units by Size in Torrington
A large number of apartments in Torrington 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 Torrington are overburdened by housing costs?
Among renter households in this market, 37 percent have housing cost burden. Further, 20 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 Torrington
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $706 to $1,534. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $706 |
| One BR | $711 |
| Two BR | $934 |
| Three BR | $1,222 |
| Four BR | $1,534 |
2024 Fair Market Rents in Torrington, Wyoming
How many units are rented at Fair Market Rent (FMR) in Torrington?
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 | 207 | 86 percent |
| Two BR | 237 | 76 percent |
Rental Units Below FMR in Torrington, Wyoming
How many affordable rental units are in Torrington?
There are a variety of federal affordable housing programs serving households in Torrington, Wyoming including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 93 |
| Section 8 Project-Based Rental Assistance | 59 |
| Section 202 Supportive Housing for the Elderly | 39 |
| USDA Section 515 Rural Rental Housing | 57 |
Tracked Units by Federal Program in Torrington, Wyoming
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Torrington, Wyoming
Torrington features 97 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 Torrington, Wyoming
There are 76 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Torrington.
Housing Choice Vouchers in Torrington, Wyoming
On average, Section 8 Housing Choice vouchers pay Torrington landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Torrington.
The maximum amount a voucher would pay on behalf of a low-income tenant in Torrington, Wyoming for a two-bedroom apartment is between $841 and $1,027.
Sourced from federal housing data and AffordableHousingOnline.com research.
