What HUD offices serve Buchanan, Georgia?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Georgia Public Housing and Low-Income Apartments Waiting Lists page for openings near Buchanan.
How many renters live in Buchanan, Georgia?
The City of Buchanan has 1,238 people living in 400 households.
There are 629 renters living in 218 renter households in this City. Renters make up 50.81 percent of the population living in Buchanan.
What is the rental market like in Buchanan, Georgia?
There are an estimated 452 housing units in the Buchanan area. Of these, 218 units are rental homes, making up 48 percent of the housing market. For every renter household in Buchanan, Georgia, there are 1 rental units.
What is the vacancy rate for rentals in Buchanan?
The rental vacancy rate in Buchanan 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 Buchanan for each bedroom size?
Occupied Rental Units by Size in Buchanan
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 10 | 31 | 64 | 61 | 46 |
Occupied Rental Units by Size in Buchanan
A large number of apartments in Buchanan 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 Buchanan are overburdened by housing costs?
Among renter households in this market, 42 percent have housing cost burden. Further, 25 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 Buchanan
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $854 to $1,806. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $854 |
| One BR | $859 |
| Two BR | $1,064 |
| Three BR | $1,499 |
| Four BR | $1,806 |
2024 Fair Market Rents in Buchanan, Georgia
How many units are rented at Fair Market Rent (FMR) in Buchanan?
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 | 10 | 100 percent |
| One BR | 27 | 87 percent |
| Two BR | 51 | 80 percent |
Rental Units Below FMR in Buchanan, Georgia
How many affordable rental units are in Buchanan?
There are a variety of federal affordable housing programs serving households in Buchanan, Georgia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 48 |
| Public Housing | 46 |
| USDA Section 515 Rural Rental Housing | 24 |
Tracked Units by Federal Program in Buchanan, Georgia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Buchanan, Georgia
Buchanan features 70 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 Buchanan, Georgia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Buchanan.
Housing Choice Vouchers in Buchanan, Georgia
On average, Section 8 Housing Choice vouchers pay Buchanan landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Buchanan.
The maximum amount a voucher would pay on behalf of a low-income tenant in Buchanan, Georgia for a two-bedroom apartment is between $958 and $1,170.
Sourced from federal housing data and AffordableHousingOnline.com research.
