How many renters live in Gassville, Arkansas?
The City of Gassville has 2,466 people living in 985 households.
There are 688 renters living in 281 renter households in this City. Renters make up 27.9 percent of the population living in Gassville.
What is the rental market like in Gassville, Arkansas?
There are an estimated 1,086 housing units in the Gassville area. Of these, 301 units are rental homes, making up 28 percent of the housing market. For every renter household in Gassville, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Gassville?
The rental vacancy rate in Gassville is 7 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 Gassville for each bedroom size?
Occupied Rental Units by Size in Gassville
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 42 | 94 | 145 | 0 |
Occupied Rental Units by Size in Gassville
A large number of apartments in Gassville 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 Gassville 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 Gassville
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 Gassville, Arkansas
How many units are rented at Fair Market Rent (FMR) in Gassville?
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 |
| One BR | 32 | 76 percent |
| Two BR | 62 | 66 percent |
Rental Units Below FMR in Gassville, Arkansas
How many affordable rental units are in Gassville?
There are a variety of federal affordable housing programs serving households in Gassville, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 168 |
| USDA Section 515 Rural Rental Housing | 45 |
Tracked Units by Federal Program in Gassville, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Gassville, Arkansas
Gassville features 55 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 Gassville, Arkansas
There are 150 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Gassville.
Housing Choice Vouchers in Gassville, Arkansas
On average, Section 8 Housing Choice vouchers pay Gassville landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Gassville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Gassville, Arkansas for a two-bedroom apartment is between $802 and $980.
Sourced from federal housing data and AffordableHousingOnline.com research.
