How many renters live in El Dorado Springs, Missouri?
The City of El Dorado Springs has 3,531 people living in 1,488 households.
There are 1,585 renters living in 764 renter households in this City. Renters make up 44.89 percent of the population living in El Dorado Springs.
What is the rental market like in El Dorado Springs, Missouri?
There are an estimated 1,818 housing units in the El Dorado Springs area. Of these, 859 units are rental homes, making up 47 percent of the housing market. For every renter household in El Dorado Springs, Missouri, there are 1 rental units.
What is the vacancy rate for rentals in El Dorado Springs?
The rental vacancy rate in El Dorado Springs 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 El Dorado Springs for each bedroom size?
Occupied Rental Units by Size in El Dorado Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 178 | 465 | 98 | 23 |
Occupied Rental Units by Size in El Dorado Springs
A large number of apartments in El Dorado Springs 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 El Dorado Springs are overburdened by housing costs?
Among renter households in this market, 44 percent have housing cost burden. Further, 20 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 El Dorado Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $601 to $1,217. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $601 |
| One BR | $607 |
| Two BR | $797 |
| Three BR | $1,070 |
| Four BR | $1,217 |
2024 Fair Market Rents in El Dorado Springs, Missouri
How many units are rented at Fair Market Rent (FMR) in El Dorado Springs?
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 | 133 | 75 percent |
| Two BR | 295 | 63 percent |
Rental Units Below FMR in El Dorado Springs, Missouri
How many affordable rental units are in El Dorado Springs?
There are a variety of federal affordable housing programs serving households in El Dorado Springs, Missouri including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 48 |
| Section 8 Project-Based Rental Assistance | 40 |
| USDA Section 515 Rural Rental Housing | 99 |
Tracked Units by Federal Program in El Dorado Springs, Missouri
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in El Dorado Springs, Missouri
El Dorado Springs features 123 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 El Dorado Springs, Missouri
There are 36 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in El Dorado Springs.
Housing Choice Vouchers in El Dorado Springs, Missouri
On average, Section 8 Housing Choice vouchers pay El Dorado Springs landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in El Dorado Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in El Dorado Springs, Missouri for a two-bedroom apartment is between $717 and $877.
Sourced from federal housing data and AffordableHousingOnline.com research.
