What HUD offices serve Hanceville, Alabama?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Alabama Public Housing and Low-Income Apartments Waiting Lists page for openings near Hanceville.
How many renters live in Hanceville, Alabama?
The City of Hanceville has 3,216 people living in 1,265 households.
There are 1,109 renters living in 628 renter households in this City. Renters make up 34.48 percent of the population living in Hanceville.
What is the rental market like in Hanceville, Alabama?
There are an estimated 1,483 housing units in the Hanceville area. Of these, 712 units are rental homes, making up 48 percent of the housing market. For every renter household in Hanceville, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Hanceville?
The rental vacancy rate in Hanceville is 12 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 Hanceville for each bedroom size?
Occupied Rental Units by Size in Hanceville
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 166 | 149 | 253 | 60 | 0 |
Occupied Rental Units by Size in Hanceville
A large number of apartments in Hanceville 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 Hanceville are overburdened by housing costs?
Among renter households in this market, 68 percent have housing cost burden. Further, 48 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 Hanceville
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $767 to $1,462. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $767 |
| One BR | $772 |
| Two BR | $1,002 |
| Three BR | $1,306 |
| Four BR | $1,462 |
2024 Fair Market Rents in Hanceville, Alabama
How many units are rented at Fair Market Rent (FMR) in Hanceville?
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 | 66 | 40 percent |
| One BR | 77 | 52 percent |
| Two BR | 223 | 88 percent |
Rental Units Below FMR in Hanceville, Alabama
How many affordable rental units are in Hanceville?
There are a variety of federal affordable housing programs serving households in Hanceville, Alabama including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 106 |
| Public Housing | 51 |
Tracked Units by Federal Program in Hanceville, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Hanceville, Alabama
Hanceville features 91 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 Hanceville, Alabama
There are 100 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hanceville.
Housing Choice Vouchers in Hanceville, Alabama
On average, Section 8 Housing Choice vouchers pay Hanceville landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Hanceville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hanceville, Alabama for a two-bedroom apartment is between $902 and $1,102.
Sourced from federal housing data and AffordableHousingOnline.com research.
