Low Income Apartments and Affordable Housing For Rent in Madison, FL

Discover affordable housing in Madison 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.

Madison Heights Apartments

150 SW Bum Gardener Drive, Madison, Florida 32340

Southern Villas of Madison

315 SW Lawson Circle, Madison, Florida 32340

Gardenia Square CO Hallmark Mgmt

363 SW Parramore Ave, Madison, Florida 32340

Cambridge Manor

400 SW Sumatra Ave, Madison, Florida 32340

Hilltop Apartments

159 SW Safari Dr, Madison, Florida 32340

Arbours at Madison

134 SW Arbour Cir, Madison, Florida 32340

Gardenia Square Apartments

501 SW Parramore Ave, Madison, Florida 32340

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Madison, Florida
$17.14/hour
$5.14 (+43%) more than Florida minimum wage and $9.89 (+136%) more than the Federal minimum wage.
Learn More About Madison, Florida Affordable Housing ↓

How many renters live in Madison, Florida?

The City of Madison has 2,930 people living in 1,238 households.

There are 1,451 renters living in 645 renter households in this City. Renters make up 49.52 percent of the population living in Madison.

What is the rental market like in Madison, Florida?

There are an estimated 1,447 housing units in the Madison area. Of these, 692 units are rental homes, making up 48 percent of the housing market. For every renter household in Madison, Florida, there are 1 rental units.

What is the vacancy rate for rentals in Madison?

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

Occupied Rental Units by Size in Madison
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
79 41 305 220 0
Occupied Rental Units by Size in Madison

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

Among renter households in this market, 54 percent have housing cost burden. Further, 12 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 Madison

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $736 to $1,481. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $736
One BR $778
Two BR $905
Three BR $1,156
Four BR $1,481
2024 Fair Market Rents in Madison, Florida

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

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 69 87 percent
One BR 30 73 percent
Two BR 174 57 percent
Rental Units Below FMR in Madison, Florida

How many affordable rental units are in Madison?

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

Federal Program Unit Count
Low Income Housing Tax Credit 48
Section 8 Project-Based Rental Assistance 148
USDA Section 515 Rural Rental Housing 49
Tracked Units by Federal Program in Madison, Florida

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

Income Based Apartments in Madison, Florida

Madison features 233 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 Madison, Florida

There are 84 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison.

Housing Choice Vouchers in Madison, Florida

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Madison, Florida for a two-bedroom apartment is between $815 and $996.

Sourced from federal housing data and AffordableHousingOnline.com research.