How many renters live in Cotter, Arkansas?
The City of Cotter has 1,004 people living in 497 households.
There are 246 renters living in 159 renter households in this City. Renters make up 24.5 percent of the population living in Cotter.
What is the rental market like in Cotter, Arkansas?
There are an estimated 681 housing units in the Cotter area. Of these, 171 units are rental homes, making up 25 percent of the housing market. For every renter household in Cotter, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Cotter?
The rental vacancy rate in Cotter 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 Cotter for each bedroom size?
Occupied Rental Units by Size in Cotter
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 10 | 52 | 54 | 38 | 5 |
Occupied Rental Units by Size in Cotter
A large number of apartments in Cotter 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 Cotter are overburdened by housing costs?
Among renter households in this market, 41 percent have housing cost burden. Further, 30 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 Cotter
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $674 to $1,257. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $674 |
| One BR | $678 |
| Two BR | $891 |
| Three BR | $1,119 |
| Four BR | $1,257 |
2024 Fair Market Rents in Cotter, Arkansas
How many units are rented at Fair Market Rent (FMR) in Cotter?
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 | 7 | 70 percent |
| One BR | 42 | 81 percent |
| Two BR | 44 | 81 percent |
Rental Units Below FMR in Cotter, Arkansas
How many affordable rental units are in Cotter?
There are a variety of federal affordable housing programs serving households in Cotter, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 39 |
| Section 8 Project-Based Rental Assistance | 24 |
| Section 202 Supportive Housing for the Elderly | 1 |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Cotter, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cotter, Arkansas
Cotter features 24 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 Cotter, Arkansas
There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cotter.
Housing Choice Vouchers in Cotter, Arkansas
On average, Section 8 Housing Choice vouchers pay Cotter landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Cotter.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cotter, Arkansas for a two-bedroom apartment is between $802 and $980.
Sourced from federal housing data and AffordableHousingOnline.com research.
