Low Income Apartments and Affordable Housing For Rent in Renova, MS

Discover affordable housing in Renova where there are 3+ 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.

Renova Prop Ltd Hymon Lucas Manor C/O Southern Mgmt

Happy Street, Renova, Mississippi

Happy Street Est Mose Hemp Apts C/O J & a Mgmt

39 Happy Street, Renova, Mississippi

Hyman Lucas Manor

Hamsey Sttreet, Renova, Mississippi 0

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Renova, Mississippi
$17.10/hour
$9.85 (+136%) more than Mississippi minimum wage and $9.85 (+136%) more than the Federal minimum wage.
Learn More About Renova, Mississippi Affordable Housing ↓

How many renters live in Renova, Mississippi?

The City of Renova has 1,008 people living in 442 households.

There are 618 renters living in 226 renter households in this City. Renters make up 61.31 percent of the population living in Renova.

What is the rental market like in Renova, Mississippi?

There are an estimated 463 housing units in the Renova area. Of these, 226 units are rental homes, making up 49 percent of the housing market. For every renter household in Renova, Mississippi, there are 1 rental units.

What is the vacancy rate for rentals in Renova?

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

Occupied Rental Units by Size in Renova
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 43 47 134 2
Occupied Rental Units by Size in Renova

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

Among renter households in this market, 59 percent have housing cost burden. Further, 13 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 Renova

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $683 to $1,203. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $683
One BR $687
Two BR $903
Three BR $1,120
Four BR $1,203
2024 Fair Market Rents in Renova, Mississippi

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

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 40 93 percent
Two BR 35 74 percent
Rental Units Below FMR in Renova, Mississippi

How many affordable rental units are in Renova?

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

Federal Program Unit Count
Low Income Housing Tax Credit 24
USDA Section 515 Rural Rental Housing 48
Tracked Units by Federal Program in Renova, Mississippi

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

Income Based Apartments in Renova, Mississippi

Renova features 72 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 Renova, Mississippi

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Renova.

Housing Choice Vouchers in Renova, Mississippi

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Renova, Mississippi for a two-bedroom apartment is between $813 and $993.

Sourced from federal housing data and AffordableHousingOnline.com research.