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

Discover affordable housing in Loachapoka where there are 1+ 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.

Loachapoka Villas

123 Lee Rd 660, Loachapoka, Alabama 36865

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Loachapoka, Alabama
$20.81/hour
$13.56 (+187%) more than Alabama minimum wage and $13.56 (+187%) more than the Federal minimum wage.
Learn More About Loachapoka, Alabama Affordable Housing ↓

How many renters live in Loachapoka, Alabama?

The City of Loachapoka has 227 people living in 98 households.

There are 73 renters living in 47 renter households in this City. Renters make up 32.16 percent of the population living in Loachapoka.

What is the rental market like in Loachapoka, Alabama?

There are an estimated 107 housing units in the Loachapoka area. Of these, 47 units are rental homes, making up 44 percent of the housing market. For every renter household in Loachapoka, Alabama, there are 1 rental units.

What is the vacancy rate for rentals in Loachapoka?

The rental vacancy rate in Loachapoka is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

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

Occupied Rental Units by Size in Loachapoka
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 15 16 9 7
Occupied Rental Units by Size in Loachapoka

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

Among renter households in this market, 28 percent have housing cost burden. Further, 23 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 Loachapoka

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $801 to $1,617. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $801
One BR $901
Two BR $1,099
Three BR $1,487
Four BR $1,617
2024 Fair Market Rents in Loachapoka, Alabama

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

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
One BR 15 100 percent
Two BR 14 88 percent
Rental Units Below FMR in Loachapoka, Alabama

How many affordable rental units are in Loachapoka?

Income Based Apartments in Loachapoka, Alabama

Loachapoka features 16 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 Loachapoka, Alabama

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Loachapoka.

Housing Choice Vouchers in Loachapoka, Alabama

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Loachapoka, Alabama for a two-bedroom apartment is between $989 and $1,209.

Sourced from federal housing data and AffordableHousingOnline.com research.