How many renters live in Wray, Colorado?
The City of Wray has 2,461 people living in 951 households.
There are 628 renters living in 307 renter households in this City. Renters make up 25.52 percent of the population living in Wray.
What is the rental market like in Wray, Colorado?
There are an estimated 1,046 housing units in the Wray area. Of these, 307 units are rental homes, making up 29 percent of the housing market. For every renter household in Wray, Colorado, there are 1 rental units.
What is the vacancy rate for rentals in Wray?
The rental vacancy rate in Wray is 0 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 Wray for each bedroom size?
Occupied Rental Units by Size in Wray
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 18 | 54 | 96 | 87 | 23 |
Occupied Rental Units by Size in Wray
A large number of apartments in Wray 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 Wray are overburdened by housing costs?
Among renter households in this market, 47 percent have housing cost burden. Further, 14 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 Wray
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $945 to $1,665. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $945 |
| One BR | $951 |
| Two BR | $1,250 |
| Three BR | $1,511 |
| Four BR | $1,665 |
2024 Fair Market Rents in Wray, Colorado
How many units are rented at Fair Market Rent (FMR) in Wray?
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 | 18 | 100 percent |
| One BR | 48 | 89 percent |
| Two BR | 91 | 95 percent |
Rental Units Below FMR in Wray, Colorado
How many affordable rental units are in Wray?
There are a variety of federal affordable housing programs serving households in Wray, Colorado including the following:
| Federal Program | Unit Count |
| Public Housing | 41 |
| Section 8 Project-Based Rental Assistance | 20 |
Tracked Units by Federal Program in Wray, Colorado
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Wray, Colorado
Wray features 61 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 $1,125 and $1,375.
Sourced from federal housing data and AffordableHousingOnline.com research.
