Low Income Apartments and Affordable Housing For Rent in Booneville, AR

Discover affordable housing in Booneville where there are 5+ 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.

Southgate Apartments

930 S Sharpe Ave, Booneville, Arkansas 72927

Garden Walk Apartments of Booneville Lani - K

668 S Sharpe Ave, Booneville, Arkansas 72927

Booneville

550 W 5th St, Booneville, Arkansas 72927

Heritage Village of Booneville

555 Heritage Dr, Booneville, Arkansas 72927

Sunshine Apartments

155 W Venable St, Booneville, Arkansas 72927

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Booneville, Arkansas
$15.42/hour
$4.42 (+40%) more than Arkansas minimum wage and $8.17 (+113%) more than the Federal minimum wage.
Learn More About Booneville, Arkansas Affordable Housing ↓

What HUD offices serve Booneville, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Booneville, Arkansas.
Operates the Public Housing programs for Booneville, Arkansas.

Go to the Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Booneville.

How many renters live in Booneville, Arkansas?

The City of Booneville has 3,819 people living in 1,528 households.

There are 1,963 renters living in 788 renter households in this City. Renters make up 51.4 percent of the population living in Booneville.

What is the rental market like in Booneville, Arkansas?

There are an estimated 1,797 housing units in the Booneville area. Of these, 899 units are rental homes, making up 50 percent of the housing market. For every renter household in Booneville, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Booneville?

The rental vacancy rate in Booneville 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 Booneville for each bedroom size?

Occupied Rental Units by Size in Booneville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
24 144 429 182 9
Occupied Rental Units by Size in Booneville

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

Among renter households in this market, 23 percent have housing cost burden. Further, 10 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 Booneville

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $563 to $1,218. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $563
One BR $725
Two BR $814
Three BR $1,139
Four BR $1,218
2024 Fair Market Rents in Booneville, Arkansas

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

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 24 100 percent
One BR 110 76 percent
Two BR 357 83 percent
Rental Units Below FMR in Booneville, Arkansas

How many affordable rental units are in Booneville?

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

Federal Program Unit Count
Low Income Housing Tax Credit 127
Section 8 Project-Based Rental Assistance 25
USDA Section 515 Rural Rental Housing 77
Tracked Units by Federal Program in Booneville, Arkansas

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

Income Based Apartments in Booneville, Arkansas

Booneville features 147 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 Booneville, Arkansas

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

Housing Choice Vouchers in Booneville, Arkansas

On average, Section 8 Housing Choice vouchers pay Booneville landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Booneville.

The maximum amount a voucher would pay on behalf of a low-income tenant in Booneville, Arkansas for a two-bedroom apartment is between $733 and $895.

Sourced from federal housing data and AffordableHousingOnline.com research.