What HUD offices serve Wills Point, 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 Wills Point.
How many renters live in Wills Point, Texas?
The City of Wills Point has 3,786 people living in 1,382 households.
There are 1,842 renters living in 669 renter households in this City. Renters make up 48.65 percent of the population living in Wills Point.
What is the rental market like in Wills Point, Texas?
There are an estimated 1,515 housing units in the Wills Point area. Of these, 694 units are rental homes, making up 46 percent of the housing market. For every renter household in Wills Point, Texas, there are 1 rental units.
What is the vacancy rate for rentals in Wills Point?
The rental vacancy rate in Wills Point is 4 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 Wills Point for each bedroom size?
Occupied Rental Units by Size in Wills Point
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 10 | 87 | 322 | 234 | 9 |
Occupied Rental Units by Size in Wills Point
A large number of apartments in Wills Point 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 Wills Point are overburdened by housing costs?
Among renter households in this market, 59 percent have housing cost burden. Further, 30 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 Wills Point
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $711 to $1,547. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $711 |
| One BR | $798 |
| Two BR | $1,049 |
| Three BR | $1,478 |
| Four BR | $1,547 |
2024 Fair Market Rents in Wills Point, Texas
How many units are rented at Fair Market Rent (FMR) in Wills Point?
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 | 33 | 38 percent |
| Two BR | 249 | 77 percent |
Rental Units Below FMR in Wills Point, Texas
How many affordable rental units are in Wills Point?
There are a variety of federal affordable housing programs serving households in Wills Point, Texas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 60 |
| Public Housing | 57 |
| USDA Section 515 Rural Rental Housing | 60 |
Tracked Units by Federal Program in Wills Point, Texas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Wills Point, Texas
Wills Point features 117 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 Wills Point, Texas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wills Point.
Housing Choice Vouchers in Wills Point, Texas
On average, Section 8 Housing Choice vouchers pay Wills Point landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Wills Point.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wills Point, Texas for a two-bedroom apartment is between $944 and $1,154.
Sourced from federal housing data and AffordableHousingOnline.com research.
