Low Income Apartments and Affordable Housing For Rent in Falkville, AL

Discover affordable housing in Falkville where there are 2+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Falkville Village

62 W 1st St, Falkville, Alabama 35622

Russell Apartments

144 W 3rd St, Falkville, Alabama 35622

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Falkville, Alabama
$17.50/hour
$10.25 (+141%) more than Alabama minimum wage and $10.25 (+141%) more than the Federal minimum wage.
Learn More About Falkville, Alabama Affordable Housing ↓

How many renters live in Falkville, Alabama?

The City of Falkville has 1,422 people living in 423 households.

There are 196 renters living in 71 renter households in this City. Renters make up 13.78 percent of the population living in Falkville.

What is the rental market like in Falkville, Alabama?

There are an estimated 519 housing units in the Falkville area. Of these, 135 units are rental homes, making up 26 percent of the housing market. For every renter household in Falkville, Alabama, there are 2 rental units.

What is the vacancy rate for rentals in Falkville?

The rental vacancy rate in Falkville is 33 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Falkville for each bedroom size?

Occupied Rental Units by Size in Falkville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
5 10 39 14 3
Occupied Rental Units by Size in Falkville

A large number of apartments in Falkville 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 Falkville are overburdened by housing costs?

Among renter households in this market, 17 percent have housing cost burden. Further, 8 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 Falkville

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $740 to $1,352. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $740
One BR $763
Two BR $924
Three BR $1,202
Four BR $1,352
2024 Fair Market Rents in Falkville, Alabama

How many units are rented at Fair Market Rent (FMR) in Falkville?

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 5 100 percent
One BR 2 20 percent
Two BR 33 85 percent
Rental Units Below FMR in Falkville, Alabama

How many affordable rental units are in Falkville?

There are a variety of federal affordable housing programs serving households in Falkville, Alabama including the following:

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 16
Tracked Units by Federal Program in Falkville, Alabama

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Falkville, Alabama

Falkville 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 Falkville, Alabama

There are 28 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Falkville.

Housing Choice Vouchers in Falkville, Alabama

On average, Section 8 Housing Choice vouchers pay Falkville landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Falkville.

The maximum amount a voucher would pay on behalf of a low-income tenant in Falkville, Alabama for a two-bedroom apartment is between $832 and $1,016.

Sourced from federal housing data and AffordableHousingOnline.com research.