Low Income Apartments and Affordable Housing For Rent in Fortville, IN

Discover affordable housing in Fortville where there are 2+ 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.

Village Apartments of Fortville III

425 Vera Ct, Fortville, Indiana 46040

Village Apartments Fortville

750 N Madison St, Fortville, Indiana 46040

calendar_today Opened: Aug 1
Open Until Further Notice

Reported On January 29th, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Fortville, Indiana
$25.55/hour
$18.30 (+252%) more than Indiana minimum wage and $18.30 (+252%) more than the Federal minimum wage.
Learn More About Fortville, Indiana Affordable Housing ↓

What HUD offices serve Fortville, Indiana?

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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Fortville, Indiana.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Fortville, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Fortville.

How many renters live in Fortville, Indiana?

The City of Fortville has 5,206 people living in 1,871 households.

There are 1,303 renters living in 512 renter households in this City. Renters make up 25.03 percent of the population living in Fortville.

What is the rental market like in Fortville, Indiana?

There are an estimated 1,937 housing units in the Fortville area. Of these, 578 units are rental homes, making up 30 percent of the housing market. For every renter household in Fortville, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Fortville?

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

Occupied Rental Units by Size in Fortville
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
112 76 90 234 0
Occupied Rental Units by Size in Fortville

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

Among renter households in this market, 22 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 Fortville

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $982 to $2,126. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $982
One BR $1,145
Two BR $1,349
Three BR $1,758
Four BR $2,126
2024 Fair Market Rents in Fortville, Indiana

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

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 112 100 percent
One BR 76 100 percent
Two BR 70 78 percent
Rental Units Below FMR in Fortville, Indiana

How many affordable rental units are in Fortville?

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

Federal Program Unit Count
Low Income Housing Tax Credit 64
Section 8 Project-Based Rental Assistance 24
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Fortville, Indiana

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

Income Based Apartments in Fortville, Indiana

Fortville features 24 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 Fortville, Indiana

There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fortville.

Housing Choice Vouchers in Fortville, Indiana

On average, Section 8 Housing Choice vouchers pay Fortville landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Fortville.

The maximum amount a voucher would pay on behalf of a low-income tenant in Fortville, Indiana for a two-bedroom apartment is between $1,214 and $1,484.

Sourced from federal housing data and AffordableHousingOnline.com research.