How many renters live in Friars Point, Mississippi?
The City of Friars Point has 1,083 people living in 431 households.
There are 643 renters living in 244 renter households in this City. Renters make up 59.37 percent of the population living in Friars Point.
What is the rental market like in Friars Point, Mississippi?
There are an estimated 480 housing units in the Friars Point area. Of these, 256 units are rental homes, making up 53 percent of the housing market. For every renter household in Friars Point, Mississippi, there are 1 rental units.
What is the vacancy rate for rentals in Friars Point?
The rental vacancy rate in Friars Point is 5 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 Friars Point for each bedroom size?
Occupied Rental Units by Size in Friars Point
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 32 | 6 | 171 | 26 | 9 |
Occupied Rental Units by Size in Friars Point
A large number of apartments in Friars Point 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 Friars Point are overburdened by housing costs?
Among renter households in this market, 54 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 Friars Point
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $752 to $1,371. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $752 |
| One BR | $804 |
| Two BR | $903 |
| Three BR | $1,255 |
| Four BR | $1,371 |
2024 Fair Market Rents in Friars Point, Mississippi
How many units are rented at Fair Market Rent (FMR) in Friars Point?
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 | 32 | 100 percent |
| One BR | 6 | 100 percent |
| Two BR | 168 | 98 percent |
Rental Units Below FMR in Friars Point, Mississippi
How many affordable rental units are in Friars Point?
There are a variety of federal affordable housing programs serving households in Friars Point, Mississippi including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 23 |
| Section 8 Project-Based Rental Assistance | 7 |
| USDA Section 515 Rural Rental Housing | 78 |
Tracked Units by Federal Program in Friars Point, Mississippi
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Friars Point, Mississippi
Friars Point features 76 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 Friars Point, Mississippi
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Friars Point.
Housing Choice Vouchers in Friars Point, Mississippi
On average, Section 8 Housing Choice vouchers pay Friars Point landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Friars Point.
The maximum amount a voucher would pay on behalf of a low-income tenant in Friars Point, Mississippi for a two-bedroom apartment is between $813 and $993.
Sourced from federal housing data and AffordableHousingOnline.com research.
