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Affordable Housing In Wray
Yuma County, Colorado

2 Low Income Apartment Communities In Wray

Lincoln Terrace

923 Lincoln Ter
Wray, Colorado
Subsidized
View Apartment

Wray

1029 Clay St
Wray, Colorado
View Apartment
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Guide To Affordable Housing in Wray, Colorado

There are 2 low income housing apartment communities offering 60 affordable apartments for rent in Wray, Colorado.

Income Based Apartments in Wray, Colorado

Wray 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 Wray, Colorado

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wray.

Housing Choice Vouchers in Wray, Colorado

On average, Section 8 Housing Choice vouchers pay Wray landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Wray.

The maximum amount a voucher would pay on behalf of a low-income tenant in Wray, Colorado for a two-bedroom apartment is between $643 and $785.

2020 Wray, Colorado Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $539 $542 $714 $1,021 $1,046
Payment Standard Range $485 to $593 $488 to $596 $643 to $785 $919 to $1,123 $941 to $1,151

Sourced from federal housing data and AffordableHousingOnline.com research.

Wray, CO Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 60
Total Housing Units with Rental Assistance 60
Percentage of Housing Units Occupied By Renters 52.74%
Average Renter Household Size 2.88
Average Household Size 2.84
Median Household Income $40,850 ±$6,540
Median Rent $686 ±$49
Percentage Of Renters Overburdened 33.67% ± 10.73pp
Total Population 2,714

Population and Household Demographics

Wray is a city in Yuma County, Colorado with a population of 2,714. There are 929 households in the city with an average household size of 2.84 persons. 52.74% of households in Wray are renters.

Income and Rent Overburden in Wray

The median gross income for households in Wray is $40,850 a year, or $3,404 a month. The median rent for the city is $686 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wray, a household making less than $2,287 a month would be considered overburdened when renting an apartment at or above the median rent. 33.67% of households who rent are overburdened in Wray.

Area Median Income In Wray

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Wray, the AMI is calculated from all households within Yuma County.

In Wray, HUD calculates the Area Median Income for a family of four as $54,100

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Wray

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Wray

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,950 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $24,850 $28,400 $31,950 $35,500 $38,350 $41,200 $44,050 $46,900
80% of Median $39,800 $45,450 $51,150 $56,800 $61,350 $65,900 $70,450 $75,000