How many renters live in Morton, Mississippi?
The City of Morton has 3,690 people living in 1,004 households.
There are 1,632 renters living in 394 renter households in this City. Renters make up 44.23 percent of the population living in Morton.
What is the rental market like in Morton, Mississippi?
There are an estimated 1,231 housing units in the Morton area. Of these, 441 units are rental homes, making up 36 percent of the housing market. For every renter household in Morton, Mississippi, there are 1 rental units.
What is the vacancy rate for rentals in Morton?
The rental vacancy rate in Morton is 11 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 Morton for each bedroom size?
Occupied Rental Units by Size in Morton
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 29 | 156 | 194 | 14 |
Occupied Rental Units by Size in Morton
A large number of apartments in Morton 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 Morton are overburdened by housing costs?
Among renter households in this market, 46 percent have housing cost burden. Further, 23 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 Morton
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $758 to $1,322. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $758 |
| One BR | $762 |
| Two BR | $903 |
| Three BR | $1,115 |
| Four BR | $1,322 |
2024 Fair Market Rents in Morton, Mississippi
How many units are rented at Fair Market Rent (FMR) in Morton?
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 |
| One BR | 29 | 100 percent |
| Two BR | 119 | 76 percent |
Rental Units Below FMR in Morton, Mississippi
How many affordable rental units are in Morton?
There are a variety of federal affordable housing programs serving households in Morton, Mississippi including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 24 |
| Section 8 Project-Based Rental Assistance | 24 |
| USDA Section 515 Rural Rental Housing | 32 |
Tracked Units by Federal Program in Morton, Mississippi
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Morton, Mississippi
Morton 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 Morton, Mississippi
There are 32 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Morton.
Housing Choice Vouchers in Morton, Mississippi
On average, Section 8 Housing Choice vouchers pay Morton landlords $500 per month towards rent. The average voucher holder contributes $200 towards rent in Morton.
The maximum amount a voucher would pay on behalf of a low-income tenant in Morton, Mississippi for a two-bedroom apartment is between $813 and $993.
Sourced from federal housing data and AffordableHousingOnline.com research.
