What HUD offices serve Woodway, 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 Woodway.
How many renters live in Woodway, Texas?
The City of Woodway has 9,399 people living in 3,444 households.
There are 1,330 renters living in 421 renter households in this City. Renters make up 14.15 percent of the population living in Woodway.
What is the rental market like in Woodway, Texas?
There are an estimated 3,720 housing units in the Woodway area. Of these, 502 units are rental homes, making up 13 percent of the housing market. For every renter household in Woodway, Texas, there are 1 rental units.
What is the vacancy rate for rentals in Woodway?
The rental vacancy rate in Woodway 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 Woodway for each bedroom size?
Occupied Rental Units by Size in Woodway
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 43 | 378 | 0 |
Occupied Rental Units by Size in Woodway
A large number of apartments in Woodway 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 Woodway are overburdened by housing costs?
Among renter households in this market, 32 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 Woodway
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $875 to $1,686. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $875 |
| One BR | $1,011 |
| Two BR | $1,266 |
| Three BR | $1,632 |
| Four BR | $1,686 |
2024 Fair Market Rents in Woodway, Texas
How many units are rented at Fair Market Rent (FMR) in Woodway?
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 |
| Two BR | 43 | 100 percent |
Rental Units Below FMR in Woodway, Texas
How many affordable rental units are in Woodway?
Income Based Apartments in Woodway, Texas
Woodway 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 Woodway, Texas
There are 144 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Woodway.
Housing Choice Vouchers in Woodway, Texas
On average, Section 8 Housing Choice vouchers pay Woodway landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Woodway.
The maximum amount a voucher would pay on behalf of a low-income tenant in Woodway, Texas for a two-bedroom apartment is between $1,139 and $1,393.
Sourced from federal housing data and AffordableHousingOnline.com research.
