How many renters live in Drew, Mississippi?
The City of Drew has 2,225 people living in 810 households.
There are 1,300 renters living in 417 renter households in this City. Renters make up 58.43 percent of the population living in Drew.
What is the rental market like in Drew, Mississippi?
There are an estimated 896 housing units in the Drew area. Of these, 441 units are rental homes, making up 49 percent of the housing market. For every renter household in Drew, Mississippi, there are 1 rental units.
What is the vacancy rate for rentals in Drew?
The rental vacancy rate in Drew 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 Drew for each bedroom size?
Occupied Rental Units by Size in Drew
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 42 | 20 | 153 | 180 | 22 |
Occupied Rental Units by Size in Drew
A large number of apartments in Drew 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 Drew are overburdened by housing costs?
Among renter households in this market, 66 percent have housing cost burden. Further, 27 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 Drew
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $612 to $1,354. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $612 |
| One BR | $687 |
| Two BR | $903 |
| Three BR | $1,160 |
| Four BR | $1,354 |
2024 Fair Market Rents in Drew, Mississippi
How many units are rented at Fair Market Rent (FMR) in Drew?
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 | 38 | 90 percent |
| One BR | 15 | 75 percent |
| Two BR | 125 | 82 percent |
Rental Units Below FMR in Drew, Mississippi
How many affordable rental units are in Drew?
There are a variety of federal affordable housing programs serving households in Drew, Mississippi including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 195 |
| Section 8 Project-Based Rental Assistance | 70 |
| Section 202 Supportive Housing for the Elderly | 30 |
| USDA Section 515 Rural Rental Housing | 36 |
Tracked Units by Federal Program in Drew, Mississippi
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Drew, Mississippi
Drew features 219 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 Drew, Mississippi
There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Drew.
Housing Choice Vouchers in Drew, Mississippi
On average, Section 8 Housing Choice vouchers pay Drew landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Drew.
The maximum amount a voucher would pay on behalf of a low-income tenant in Drew, Mississippi for a two-bedroom apartment is between $813 and $993.
Sourced from federal housing data and AffordableHousingOnline.com research.
