Real estate trends to know: #3 What about overburdened renters in Montgomery County?

0

Despite large numbers of overburdened renters—those who spend more than 30 percent of their income toward rent—there are not very many low-income housing options. According to Affordable Housing Online, a database listing more than 6 million low-income housing options and Section 8 information, the city of Montgomery has zero low-income and rent-assisted buildings. However, countywide, there are 23.

In Montgomery County as a whole, which has a population of 570,934 as of July 1, 2017, there are 23 affordable apartment buildings and 2,125 low-income apartment units along with 605 rent-assisted units. The percentage of renters versus homeowners is 28.19 percent. With a median family income of $68,383, median rent is $1,030 and 49.01 percent of renters are considered overburdened.

There are 11 affordable housing buildings in Conroe including HUD, Section 8, Public Housing apartments, nonprofit low-income and low-income tax credit apartments.

Share this story
COMMENT

Leave A Reply

Back to top