Low Income Apartments and Affordable Housing For Rent in Franklin County, FL

Discover affordable housing in Franklin County where there are 7+ 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.

Jordan Bayou

174 Airport Rd., Carrabelle, Florida 32322

Eastpoint Apartments Rrh

45 Begonia St, Eastpoint, Florida 32328

Southern Villas of Apalachicola

401 24th Ave, Apalachicola, Florida 32320

Heritage Villas of Apalachicola Ltd

398 24th Ave, Apalachicola, Florida 32320

Carrabelle Cove Apartments

807 Gray Ave, Carrabelle, Florida 32322

Eastpoint Apartments

300 Begonia St, Eastpoint, Florida 32328

Cool Springs

155 16th St, Apalachicola, Florida 32320

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Franklin County, Florida
$17.31/hour
$5.31 (+44%) more than Florida minimum wage and $10.06 (+139%) more than the Federal minimum wage.
Learn More About Franklin County, Florida Affordable Housing ↓

How many renters live in Franklin County, Florida?

The County of Franklin County has 12,276 people living in 4,761 households.

There are 1,982 renters living in 921 renter households in this County. Renters make up 16.15 percent of the population living in Franklin County.

What is the rental market like in Franklin County, Florida?

There are an estimated 8,415 housing units in the Franklin County area. Of these, 1,635 units are rental homes, making up 19 percent of the housing market. For every renter household in Franklin County, Florida, there are 2 rental units.

What is the vacancy rate for rentals in Franklin County?

The rental vacancy rate in Franklin County is 41 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 Franklin County for each bedroom size?

Occupied Rental Units by Size in Franklin County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 186 358 305 68
Occupied Rental Units by Size in Franklin County

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

Among renter households in this market, 51 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 Franklin County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $792 to $1,277. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $792
One BR $814
Two BR $914
Three BR $1,273
Four BR $1,277
2024 Fair Market Rents in Franklin County, Florida

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

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 41 22 percent
Two BR 207 58 percent
Rental Units Below FMR in Franklin County, Florida

How many affordable rental units are in Franklin County?

There are a variety of federal affordable housing programs serving households in Franklin County, Florida including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 85
Public Housing 67
USDA Section 515 Rural Rental Housing 121
Tracked Units by Federal Program in Franklin County, Florida

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

Income Based Apartments in Franklin County, Florida

Franklin County features 175 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 Franklin County, Florida

There are 69 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin County.

Housing Choice Vouchers in Franklin County, Florida

On average, Section 8 Housing Choice vouchers pay Franklin County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Franklin County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin County, Florida for a two-bedroom apartment is between $823 and $1,005.

Sourced from federal housing data and AffordableHousingOnline.com research.