What HUD offices serve Canyon Lake, Texas?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Texas Public Housing and Low-Income Apartments Waiting Lists page for openings near Canyon Lake.
How many renters live in Canyon Lake, Texas?
The City of Canyon Lake has 32,035 people living in 12,589 households.
There are 4,079 renters living in 1,685 renter households in this City. Renters make up 12.73 percent of the population living in Canyon Lake.
What is the rental market like in Canyon Lake, Texas?
There are an estimated 15,485 housing units in the Canyon Lake area. Of these, 1,913 units are rental homes, making up 12 percent of the housing market. For every renter household in Canyon Lake, Texas, there are 1 rental units.
What is the vacancy rate for rentals in Canyon Lake?
The rental vacancy rate in Canyon Lake is 12 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 Canyon Lake for each bedroom size?
Occupied Rental Units by Size in Canyon Lake
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 196 | 138 | 776 | 508 | 67 |
Occupied Rental Units by Size in Canyon Lake
A large number of apartments in Canyon Lake 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 Canyon Lake are overburdened by housing costs?
Among renter households in this market, 52 percent have housing cost burden. Further, 24 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 Canyon Lake
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,067 to $2,206. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,067 |
| One BR | $1,197 |
| Two BR | $1,458 |
| Three BR | $1,846 |
| Four BR | $2,206 |
2024 Fair Market Rents in Canyon Lake, Texas
How many units are rented at Fair Market Rent (FMR) in Canyon Lake?
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 | 61 | 31 percent |
| One BR | 118 | 86 percent |
| Two BR | 541 | 70 percent |
Rental Units Below FMR in Canyon Lake, Texas
How many affordable rental units are in Canyon Lake?
There are a variety of federal affordable housing programs serving households in Canyon Lake, Texas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 59 |
Tracked Units by Federal Program in Canyon Lake, Texas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Canyon Lake, Texas
Canyon Lake features 0 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 Canyon Lake, Texas
There are 65 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Canyon Lake.
Housing Choice Vouchers in Canyon Lake, Texas
On average, Section 8 Housing Choice vouchers pay Canyon Lake landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Canyon Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Canyon Lake, Texas for a two-bedroom apartment is between $1,312 and $1,604.
Sourced from federal housing data and AffordableHousingOnline.com research.
