BRYAN/COLLEGE STATION, Tex. (KBTX) - Rental rates in Bryan and College Station are on the rise. Officials say those high dollar costs are no help when it comes to the search for affordable housing.
Photo courtesy of Dennis Capati / MGN
According to a recent study provided by the Bryan/College Station Apartment Association, the average rent in College Station comes in around $965. A study from Apartmentlist.com shows the average rate in Bryan is $840.
"It is a problem for our workforce, for those families that are hardworking and don't make above the median income, which is around $66,000 a year,"said Debbie Eller with the City of College Station.
It's not a problem that's exclusive to our area. Rent rates are up across the state.
Eller councils families on what to look for when budgeting for rent.
"We tell them they should spend no more than 30% of their income on housing expenses," said Eller. "Therefore, it's challenging for them to find a place that is affordable."
But things could be looking up for families in the coming years, at least in College Station. The city's community development team is reviewing several proposals for a tax allocation program.
The program gives developers a big tax break in exchange for a mixed-income property at more affordable rates.
"This year, the qualified allocation plan, which is the point structure, seems favorable for us to get an allocation in our area this year," said Eller.
She says it's something the city desperately needs.
"We need workforce housing. We need elderly housing," said Eller. "There are some elderly housing units here that do maintain the restricted rents, but they have a waiting list. It years before they have an opening."
The community development office will go before the council next Thursday to submit those tax allocation proposals.