What HUD offices serve Olive Branch, Mississippi?
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 Mississippi Public Housing and Low-Income Apartments Waiting Lists page for openings near Olive Branch.
How many renters live in Olive Branch, Mississippi?
The City of Olive Branch has 45,938 people living in 17,054 households.
There are 8,814 renters living in 3,175 renter households in this City. Renters make up 19.19 percent of the population living in Olive Branch.
What is the rental market like in Olive Branch, Mississippi?
There are an estimated 17,588 housing units in the Olive Branch area. Of these, 3,471 units are rental homes, making up 20 percent of the housing market. For every renter household in Olive Branch, Mississippi, there are 1 rental units.
What is the vacancy rate for rentals in Olive Branch?
The rental vacancy rate in Olive Branch is 7 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 Olive Branch for each bedroom size?
Occupied Rental Units by Size in Olive Branch
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 77 | 259 | 723 | 1,525 | 500 |
Occupied Rental Units by Size in Olive Branch
A large number of apartments in Olive Branch 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 Olive Branch are overburdened by housing costs?
Among renter households in this market, 35 percent have housing cost burden. Further, 24 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 Olive Branch
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,031 to $1,995. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,031 |
| One BR | $1,146 |
| Two BR | $1,298 |
| Three BR | $1,711 |
| Four BR | $1,995 |
2024 Fair Market Rents in Olive Branch, Mississippi
How many units are rented at Fair Market Rent (FMR) in Olive Branch?
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 | 19 | 25 percent |
| One BR | 94 | 36 percent |
| Two BR | 298 | 41 percent |
Rental Units Below FMR in Olive Branch, Mississippi
How many affordable rental units are in Olive Branch?
There are a variety of federal affordable housing programs serving households in Olive Branch, Mississippi including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 38 |
| Section 8 Project-Based Rental Assistance | 98 |
| USDA Section 515 Rural Rental Housing | 38 |
Tracked Units by Federal Program in Olive Branch, Mississippi
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Olive Branch, Mississippi
Olive Branch features 136 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 Olive Branch, Mississippi
There are 38 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Olive Branch.
Housing Choice Vouchers in Olive Branch, Mississippi
On average, Section 8 Housing Choice vouchers pay Olive Branch landlords $1,400 per month towards rent. The average voucher holder contributes $400 towards rent in Olive Branch.
The maximum amount a voucher would pay on behalf of a low-income tenant in Olive Branch, Mississippi for a two-bedroom apartment is between $1,168 and $1,428.
Sourced from federal housing data and AffordableHousingOnline.com research.
