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

What HUD offices serve Caraway, 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 Caraway.

How many renters live in Caraway, Arkansas?

The City of Caraway has 1,174 people living in 474 households.

There are 378 renters living in 176 renter households in this City. Renters make up 32.2 percent of the population living in Caraway.

What is the rental market like in Caraway, Arkansas?

There are an estimated 547 housing units in the Caraway area. Of these, 176 units are rental homes, making up 32 percent of the housing market. For every renter household in Caraway, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Caraway?

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

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

Among renter households in this market, 26 percent have housing cost burden. Further, 4 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 Caraway

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.

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

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:

How many affordable rental units are in Caraway?

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

Income Based Apartments in Caraway, Arkansas

Caraway features 50 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 Caraway, Arkansas

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

Housing Choice Vouchers in Caraway, Arkansas

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Caraway, Arkansas for a two-bedroom apartment is between $842 and $1,030.

Sourced from federal housing data and AffordableHousingOnline.com research.