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

Discover affordable housing in Nevada where there are 9+ 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.

Spring Village

710 W. Garfield, Nevada, Missouri 64772

Spring Village Apartments

710 W Garfield St, Nevada, Missouri 64772

Elmwood Estates

1102 N Elm St, Nevada, Missouri 64772

Nevada Heights Apartments

2501 E Johnson Dr, Nevada, Missouri 64772

Nevada Manor

200 W Highland Ave, Nevada, Missouri 64772

Ash Place Apartments

2095 N Ash St, Nevada, Missouri 64772

Nevada Estates, Lp

701 West Garfield, Nevada, Missouri

Chapman Estates

510 W Garfield St, Nevada, Missouri 64772

Missouri

Johnson Dr And Meadow Ln, Nevada, Missouri 0

Open Until Further Notice

Reported On February 23rd, 2024 by Robin Lovelace

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Nevada, Missouri
$16.38/hour
$4.08 (+33%) more than Missouri minimum wage and $9.13 (+126%) more than the Federal minimum wage.
Learn More About Nevada, Missouri Affordable Housing ↓

What HUD offices serve Nevada, Missouri?

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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Nevada, Missouri.

Go to the Missouri Public Housing and Low-Income Apartments Waiting Lists page for openings near Nevada.

How many renters live in Nevada, Missouri?

The City of Nevada has 8,128 people living in 3,411 households.

There are 3,042 renters living in 1,602 renter households in this City. Renters make up 37.43 percent of the population living in Nevada.

What is the rental market like in Nevada, Missouri?

There are an estimated 3,873 housing units in the Nevada area. Of these, 1,629 units are rental homes, making up 42 percent of the housing market. For every renter household in Nevada, Missouri, there are 1 rental units.

What is the vacancy rate for rentals in Nevada?

The rental vacancy rate in Nevada is 2 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 Nevada for each bedroom size?

Occupied Rental Units by Size in Nevada
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
89 439 758 184 105
Occupied Rental Units by Size in Nevada

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

Among renter households in this market, 47 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 Nevada

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $652 to $1,379. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $652
One BR $658
Two BR $865
Three BR $1,096
Four BR $1,379
2024 Fair Market Rents in Nevada, Missouri

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

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 82 92 percent
One BR 345 79 percent
Two BR 422 56 percent
Rental Units Below FMR in Nevada, Missouri

How many affordable rental units are in Nevada?

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

Federal Program Unit Count
Low Income Housing Tax Credit 139
Public Housing 200
Section 8 Project-Based Rental Assistance 123
USDA Section 515 Rural Rental Housing 48
Tracked Units by Federal Program in Nevada, Missouri

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

Income Based Apartments in Nevada, Missouri

Nevada features 372 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 Nevada, Missouri

There are 148 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Nevada.

Housing Choice Vouchers in Nevada, Missouri

On average, Section 8 Housing Choice vouchers pay Nevada landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Nevada.

The maximum amount a voucher would pay on behalf of a low-income tenant in Nevada, Missouri for a two-bedroom apartment is between $779 and $952.

Sourced from federal housing data and AffordableHousingOnline.com research.