How many renters live in Ravenden Springs, Arkansas?
The City of Ravenden Springs has 207 people living in 95 households.
There are 72 renters living in 42 renter households in this City. Renters make up 34.78 percent of the population living in Ravenden Springs.
What is the rental market like in Ravenden Springs, Arkansas?
There are an estimated 103 housing units in the Ravenden Springs area. Of these, 45 units are rental homes, making up 44 percent of the housing market. For every renter household in Ravenden Springs, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Ravenden Springs?
The rental vacancy rate in Ravenden Springs 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 Ravenden Springs for each bedroom size?
Occupied Rental Units by Size in Ravenden Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 42 | 0 | 0 |
Occupied Rental Units by Size in Ravenden Springs
A large number of apartments in Ravenden Springs 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 Ravenden Springs are overburdened by housing costs?
Among renter households in this market, 19 percent have housing cost burden. Further, 0 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 Ravenden Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $604 to $1,381. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $604 |
| One BR | $725 |
| Two BR | $814 |
| Three BR | $1,147 |
| Four BR | $1,381 |
2024 Fair Market Rents in Ravenden Springs, Arkansas
How many units are rented at Fair Market Rent (FMR) in Ravenden Springs?
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 |
| Two BR | 28 | 67 percent |
Rental Units Below FMR in Ravenden Springs, Arkansas
How many affordable rental units are in Ravenden Springs?
Income Based Apartments in Ravenden Springs, Arkansas
Ravenden Springs features 15 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 Ravenden Springs, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ravenden Springs.
Housing Choice Vouchers in Ravenden Springs, Arkansas
On average, Section 8 Housing Choice vouchers pay Ravenden Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ravenden Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ravenden Springs, Arkansas for a two-bedroom apartment is between $733 and $895.
Sourced from federal housing data and AffordableHousingOnline.com research.
