Low Income Apartments and Affordable Housing For Rent in Drexel, MO

Discover affordable housing in Drexel where there are 1+ 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.

Frazier Estates

909 N. 4th Street, Drexel, Missouri

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Drexel, Missouri
$23.83/hour
$11.53 (+94%) more than Missouri minimum wage and $16.58 (+229%) more than the Federal minimum wage.
Learn More About Drexel, Missouri Affordable Housing ↓

How many renters live in Drexel, Missouri?

The City of Drexel has 983 people living in 401 households.

There are 299 renters living in 136 renter households in this City. Renters make up 30.42 percent of the population living in Drexel.

What is the rental market like in Drexel, Missouri?

There are an estimated 430 housing units in the Drexel area. Of these, 136 units are rental homes, making up 32 percent of the housing market. For every renter household in Drexel, Missouri, there are 1 rental units.

What is the vacancy rate for rentals in Drexel?

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

Occupied Rental Units by Size in Drexel
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
3 38 50 19 26
Occupied Rental Units by Size in Drexel

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

Among renter households in this market, 24 percent have housing cost burden. Further, 0 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 Drexel

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $646 to $1,449. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $646
One BR $650
Two BR $854
Three BR $1,111
Four BR $1,449
2024 Fair Market Rents in Drexel, Missouri

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

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 3 100 percent
One BR 35 92 percent
Two BR 50 100 percent
Rental Units Below FMR in Drexel, Missouri

How many affordable rental units are in Drexel?

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

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 52
Tracked Units by Federal Program in Drexel, Missouri

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

Income Based Apartments in Drexel, Missouri

Drexel features 52 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 Drexel, Missouri

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Drexel.

Housing Choice Vouchers in Drexel, Missouri

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Drexel, Missouri for a two-bedroom apartment is between $1,132 and $1,384.

Sourced from federal housing data and AffordableHousingOnline.com research.