How many renters live in Washington Terrace, Utah?
The City of Washington Terrace has 9,220 people living in 3,409 households.
There are 2,387 renters living in 991 renter households in this City. Renters make up 25.89 percent of the population living in Washington Terrace.
What is the rental market like in Washington Terrace, Utah?
There are an estimated 3,548 housing units in the Washington Terrace area. Of these, 991 units are rental homes, making up 28 percent of the housing market. For every renter household in Washington Terrace, Utah, there are 1 rental units.
What is the vacancy rate for rentals in Washington Terrace?
The rental vacancy rate in Washington Terrace is 0 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 Washington Terrace for each bedroom size?
Occupied Rental Units by Size in Washington Terrace
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 77 | 167 | 496 | 143 | 97 |
Occupied Rental Units by Size in Washington Terrace
A large number of apartments in Washington Terrace 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 Washington Terrace are overburdened by housing costs?
Among renter households in this market, 36 percent have housing cost burden. Further, 31 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 Washington Terrace
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,016 to $2,229. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,016 |
| One BR | $1,108 |
| Two BR | $1,350 |
| Three BR | $1,831 |
| Four BR | $2,229 |
2024 Fair Market Rents in Washington Terrace, Utah
How many units are rented at Fair Market Rent (FMR) in Washington Terrace?
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 | 2 | 3 percent |
| One BR | 102 | 61 percent |
| Two BR | 379 | 76 percent |
Rental Units Below FMR in Washington Terrace, Utah
How many affordable rental units are in Washington Terrace?
There are a variety of federal affordable housing programs serving households in Washington Terrace, Utah including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 77 |
| Section 8 Project-Based Rental Assistance | 78 |
Tracked Units by Federal Program in Washington Terrace, Utah
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Washington Terrace, Utah
Washington Terrace features 34 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 Washington Terrace, Utah
There are 44 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Washington Terrace.
Housing Choice Vouchers in Washington Terrace, Utah
On average, Section 8 Housing Choice vouchers pay Washington Terrace landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Washington Terrace.
The maximum amount a voucher would pay on behalf of a low-income tenant in Washington Terrace, Utah for a two-bedroom apartment is between $1,215 and $1,485.
Sourced from federal housing data and AffordableHousingOnline.com research.
