What HUD offices serve Bono, Arkansas?
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 Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Bono.
How many renters live in Bono, Arkansas?
The City of Bono has 2,497 people living in 840 households.
There are 913 renters living in 355 renter households in this City. Renters make up 36.56 percent of the population living in Bono.
What is the rental market like in Bono, Arkansas?
There are an estimated 1,006 housing units in the Bono area. Of these, 388 units are rental homes, making up 39 percent of the housing market. For every renter household in Bono, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Bono?
The rental vacancy rate in Bono is 9 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 Bono for each bedroom size?
Occupied Rental Units by Size in Bono
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 11 | 63 | 117 | 144 | 20 |
Occupied Rental Units by Size in Bono
A large number of apartments in Bono 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 Bono are overburdened by housing costs?
Among renter households in this market, 37 percent have housing cost burden. Further, 15 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 Bono
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $634 to $1,560. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $634 |
| One BR | $767 |
| Two BR | $936 |
| Three BR | $1,226 |
| Four BR | $1,560 |
2024 Fair Market Rents in Bono, Arkansas
How many units are rented at Fair Market Rent (FMR) in Bono?
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 | 10 | 91 percent |
| One BR | 63 | 100 percent |
| Two BR | 93 | 79 percent |
Rental Units Below FMR in Bono, Arkansas
How many affordable rental units are in Bono?
There are a variety of federal affordable housing programs serving households in Bono, Arkansas including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 46 |
| Section 202 Supportive Housing for the Elderly | 36 |
Tracked Units by Federal Program in Bono, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Bono, Arkansas
Bono features 70 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 Bono, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bono.
Housing Choice Vouchers in Bono, Arkansas
On average, Section 8 Housing Choice vouchers pay Bono landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Bono.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bono, Arkansas for a two-bedroom apartment is between $842 and $1,030.
Sourced from federal housing data and AffordableHousingOnline.com research.
