How many renters live in Wallace, Idaho?
The City of Wallace has people living in households.
There are renters living in renter households in this City. Renters make up 43.49 percent of the population living in Wallace.
What is the rental market like in Wallace, Idaho?
There are an estimated housing units in the Wallace area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Wallace, Idaho, there are 1.2 rental units.
What is the vacancy rate for rentals in Wallace?
The rental vacancy rate in Wallace 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 Wallace for each bedroom size?
Occupied Rental Units by Size in Wallace
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 7 | 56 | 80 | 35 | 0 |
Occupied Rental Units by Size in Wallace
A large number of apartments in Wallace have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many units are rented at Fair Market Rent (FMR) in Wallace?
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 | 7 | 100 percent |
| One BR | 51 | 91 percent |
| Two BR | 61 | 76 percent |
Rental Units Below FMR in Wallace, Idaho
How many affordable rental units are in Wallace?
There are a variety of federal affordable housing programs serving households in Wallace, Idaho including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance |
Tracked Units by Federal Program in Wallace, Idaho
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Wallace, Idaho
Wallace features 48 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 Wallace, Idaho
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wallace.
Housing Choice Vouchers in Wallace, Idaho
On average, Section 8 Housing Choice vouchers pay Wallace landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Wallace.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wallace, Idaho for a two-bedroom apartment is between $862 and $1,054.
Sourced from federal housing data and AffordableHousingOnline.com research.