Low Income Apartments and Affordable Housing For Rent in Bull Shoals, AR

Discover affordable housing in Bull Shoals where there are 3+ 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.

Merriwood Apartments

1002 Morning Glory Dr, Bull Shoals, Arkansas 72619

North Arkansas Senior Housing Gravette Bull Shoal

156 Kingsway Cir, Bull Shoals, Arkansas 72619

Lakewind Apartments

1405 C S Woods Boulevard, Bull Shoals, Arkansas

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Bull Shoals, Arkansas
$16.14/hour
$5.14 (+47%) more than Arkansas minimum wage and $8.89 (+123%) more than the Federal minimum wage.
Learn More About Bull Shoals, Arkansas Affordable Housing ↓

How many renters live in Bull Shoals, Arkansas?

The City of Bull Shoals has 1,790 people living in 803 households.

There are 309 renters living in 207 renter households in this City. Renters make up 17.26 percent of the population living in Bull Shoals.

What is the rental market like in Bull Shoals, Arkansas?

There are an estimated 1,226 housing units in the Bull Shoals area. Of these, 284 units are rental homes, making up 23 percent of the housing market. For every renter household in Bull Shoals, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Bull Shoals?

The rental vacancy rate in Bull Shoals is 27 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 Bull Shoals for each bedroom size?

Occupied Rental Units by Size in Bull Shoals
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
17 61 115 14 0
Occupied Rental Units by Size in Bull Shoals

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

Among renter households in this market, 42 percent have housing cost burden. Further, 24 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 Bull Shoals

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $630 to $1,213. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $630
One BR $648
Two BR $852
Three BR $1,030
Four BR $1,213
2024 Fair Market Rents in Bull Shoals, Arkansas

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

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 17 100 percent
One BR 39 64 percent
Two BR 62 54 percent
Rental Units Below FMR in Bull Shoals, Arkansas

How many affordable rental units are in Bull Shoals?

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

Federal Program Unit Count
Low Income Housing Tax Credit 27
Section 8 Project-Based Rental Assistance 23
USDA Section 515 Rural Rental Housing 57
Tracked Units by Federal Program in Bull Shoals, Arkansas

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

Income Based Apartments in Bull Shoals, Arkansas

Bull Shoals features 97 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 Bull Shoals, Arkansas

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

Housing Choice Vouchers in Bull Shoals, Arkansas

On average, Section 8 Housing Choice vouchers pay Bull Shoals landlords $300 per month towards rent. The average voucher holder contributes $200 towards rent in Bull Shoals.

The maximum amount a voucher would pay on behalf of a low-income tenant in Bull Shoals, Arkansas for a two-bedroom apartment is between $767 and $937.

Sourced from federal housing data and AffordableHousingOnline.com research.