How many renters live in Ray, North Dakota?
The City of Ray has 768 people living in 312 households.
There are 257 renters living in 122 renter households in this City. Renters make up 33.46 percent of the population living in Ray.
What is the rental market like in Ray, North Dakota?
There are an estimated 373 housing units in the Ray area. Of these, 144 units are rental homes, making up 39 percent of the housing market. For every renter household in Ray, North Dakota, there are 1 rental units.
What is the vacancy rate for rentals in Ray?
The rental vacancy rate in Ray is 15 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 Ray for each bedroom size?
Occupied Rental Units by Size in Ray
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 10 | 6 | 20 | 80 | 5 |
Occupied Rental Units by Size in Ray
A large number of apartments in Ray 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 Ray are overburdened by housing costs?
Among renter households in this market, 53 percent have housing cost burden. Further, 7 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 Ray
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $985 to $1,928. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $985 |
| One BR | $1,003 |
| Two BR | $1,136 |
| Three BR | $1,601 |
| Four BR | $1,928 |
2024 Fair Market Rents in Ray, North Dakota
How many units are rented at Fair Market Rent (FMR) in Ray?
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 | 10 | 100 percent |
| One BR | 1 | 17 percent |
| Two BR | 17 | 85 percent |
Rental Units Below FMR in Ray, North Dakota
How many affordable rental units are in Ray?
There are a variety of federal affordable housing programs serving households in Ray, North Dakota including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 12 |
Tracked Units by Federal Program in Ray, North Dakota
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Ray, North Dakota
Ray features 12 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 Ray, North Dakota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ray.
Housing Choice Vouchers in Ray, North Dakota
On average, Section 8 Housing Choice vouchers pay Ray landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ray.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ray, North Dakota for a two-bedroom apartment is between $1,022 and $1,250.
Sourced from federal housing data and AffordableHousingOnline.com research.
