WACO, Texas – The Waco rental market is hot right now – so hot that some people can’t find a place to live.
Waco Housing Interim Community Service Director Raynesha Hudnell helps people with rental assistance through the McLennan County Emergency Rental Assistance Program.
“We have had residents who have contacted us, who are having difficulties securing housing,” Hudnell says.
Hudnell says many have seen a shortage in unit availability.
“Because of the pandemic, we have people who are comfortable in their current housing situation, so they are not going to move. And we understand that,” Hudnell said.
In addition, Hudnell says people have found what they can afford.
Through the Renters Assistance Program, they have the availability to help people secure housing and pay deposits.
With the renters moratorium extended until June 30th, Brian Carberry – who is the Senior Managing Editor with Apartment Guide – says it will be this way for awhile.
“If these landlords have other available units right now, they may actually have to raise rent on those available units in order to recoup some of the money they are not getting,” Carberry said.
Carberry says these are just a few of the factors driving market prices across the country – making affordable housing more difficult.
The problem may reverse itself once the moratorium ends and people are evicted, because there will be more units on the market.
“We don’t know what’s going to happen, because it is a situation that truly is unique,” Carberry said. “We haven’t been here before.”
FOX44 reached out to local apartments who say they are full to capacity, and it has a lot to do with people living where they can afford. Some people looking to rent say they have had no luck finding a place.
“If you can get in right now and are comfortable paying that rate for the next 12 months, that may be the best situation for you,” Carberry said.