What HUD offices serve The Colony, 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 The Colony.
How many renters live in The Colony, Texas?
The City of The Colony has 44,323 people living in 18,113 households.
There are 15,086 renters living in 7,163 renter households in this City. Renters make up 34.04 percent of the population living in The Colony.
What is the rental market like in The Colony, Texas?
There are an estimated 19,072 housing units in the The Colony area. Of these, 7,372 units are rental homes, making up 39 percent of the housing market. For every renter household in The Colony, Texas, there are 1 rental units.
What is the vacancy rate for rentals in The Colony?
The rental vacancy rate in The Colony is 2 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 The Colony for each bedroom size?
Occupied Rental Units by Size in The Colony
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 294 | 2,668 | 2,038 | 1,709 | 370 |
Occupied Rental Units by Size in The Colony
A large number of apartments in The Colony 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 The Colony are overburdened by housing costs?
Among renter households in this market, 29 percent have housing cost burden. Further, 10 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 The Colony
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,426 to $2,847. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,426 |
| One BR | $1,500 |
| Two BR | $1,758 |
| Three BR | $2,212 |
| Four BR | $2,847 |
2024 Fair Market Rents in The Colony, Texas
How many units are rented at Fair Market Rent (FMR) in The Colony?
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 | 179 | 61 percent |
| One BR | 1,499 | 56 percent |
| Two BR | 272 | 13 percent |
Rental Units Below FMR in The Colony, Texas
How many affordable rental units are in The Colony?
There are a variety of federal affordable housing programs serving households in The Colony, Texas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 145 |
Tracked Units by Federal Program in The Colony, Texas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in The Colony, Texas
The Colony 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 The Colony, Texas
There are 145 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in The Colony.
Housing Choice Vouchers in The Colony, Texas
On average, Section 8 Housing Choice vouchers pay The Colony landlords $900 per month towards rent. The average voucher holder contributes $500 towards rent in The Colony.
The maximum amount a voucher would pay on behalf of a low-income tenant in The Colony, Texas for a two-bedroom apartment is between $1,582 and $1,934.
Sourced from federal housing data and AffordableHousingOnline.com research.
