What HUD offices serve New Waverly, 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 New Waverly.
How many renters live in New Waverly, Texas?
The City of New Waverly has 1,102 people living in 371 households.
There are 396 renters living in 139 renter households in this City. Renters make up 35.93 percent of the population living in New Waverly.
What is the rental market like in New Waverly, Texas?
There are an estimated 471 housing units in the New Waverly area. Of these, 152 units are rental homes, making up 32 percent of the housing market. For every renter household in New Waverly, Texas, there are 1 rental units.
What is the vacancy rate for rentals in New Waverly?
The rental vacancy rate in New Waverly is 9 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 New Waverly for each bedroom size?
Occupied Rental Units by Size in New Waverly
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 49 | 18 | 72 | 0 |
Occupied Rental Units by Size in New Waverly
A large number of apartments in New Waverly 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 New Waverly are overburdened by housing costs?
Among renter households in this market, 63 percent have housing cost burden. Further, 40 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 New Waverly
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $807 to $2,019. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $807 |
| One BR | $1,035 |
| Two BR | $1,190 |
| Three BR | $1,441 |
| Four BR | $2,019 |
2024 Fair Market Rents in New Waverly, Texas
How many units are rented at Fair Market Rent (FMR) in New Waverly?
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 |
| One BR | 49 | 100 percent |
| Two BR | 18 | 100 percent |
Rental Units Below FMR in New Waverly, Texas
How many affordable rental units are in New Waverly?
There are a variety of federal affordable housing programs serving households in New Waverly, Texas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 50 |
| Section 8 Project-Based Rental Assistance | 50 |
Tracked Units by Federal Program in New Waverly, Texas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in New Waverly, Texas
New Waverly features 50 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 New Waverly, Texas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Waverly.
Housing Choice Vouchers in New Waverly, Texas
On average, Section 8 Housing Choice vouchers pay New Waverly landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in New Waverly.
The maximum amount a voucher would pay on behalf of a low-income tenant in New Waverly, Texas for a two-bedroom apartment is between $1,071 and $1,309.
Sourced from federal housing data and AffordableHousingOnline.com research.
