Low Income Apartments and Affordable Housing For Rent in Apex, NC

Discover affordable housing in Apex where there are 6+ 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.

Beechridge Apartments

610 Upchurch St, Apex, North Carolina 27502

West Haven Apartments

100 Peace Haven Pl, Apex, North Carolina 27502

Wake Acres Apts

300 James Street, Apex, North Carolina

Wake Co Ha

107 Lynch St, Apex, North Carolina 27529

Beechridge Phase II

610 Upchurch St, Apex, North Carolina 27502

Beechridge - Phase II

Upchurch Rd, Apex, North Carolina 27502

calendar_today Opened: May 1
calendar_today Closed: Oct 31,

Reported On February 23rd, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Apex, North Carolina
$31.17/hour
$23.92 (+330%) more than North Carolina minimum wage and $23.92 (+330%) more than the Federal minimum wage.
Learn More About Apex, North Carolina Affordable Housing ↓

What HUD offices serve Apex, North Carolina?

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 Apex, North Carolina.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Homeownership Voucher, Public Housing Homeownership, Family Self-Sufficiency programs for Apex, North Carolina.

Go to the North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Apex.

How many renters live in Apex, North Carolina?

The City of Apex has 65,541 people living in 22,965 households.

There are 13,942 renters living in 5,683 renter households in this City. Renters make up 21.27 percent of the population living in Apex.

What is the rental market like in Apex, North Carolina?

There are an estimated 24,318 housing units in the Apex area. Of these, 6,416 units are rental homes, making up 26 percent of the housing market. For every renter household in Apex, North Carolina, there are 1 rental units.

What is the vacancy rate for rentals in Apex?

The rental vacancy rate in Apex is 9 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 Apex for each bedroom size?

Occupied Rental Units by Size in Apex
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
65 1,032 1,762 2,087 591
Occupied Rental Units by Size in Apex

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

Among renter households in this market, 38 percent have housing cost burden. Further, 17 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 Apex

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,427 to $2,711. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,427
One BR $1,466
Two BR $1,646
Three BR $2,035
Four BR $2,711
2024 Fair Market Rents in Apex, North Carolina

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

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 14 22 percent
One BR 722 70 percent
Two BR 644 37 percent
Rental Units Below FMR in Apex, North Carolina

How many affordable rental units are in Apex?

There are a variety of federal affordable housing programs serving households in Apex, North Carolina including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 176
Public Housing 10
USDA Section 515 Rural Rental Housing 48
Tracked Units by Federal Program in Apex, North Carolina

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

Income Based Apartments in Apex, North Carolina

Apex features 82 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 Apex, North Carolina

There are 236 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Apex.

Housing Choice Vouchers in Apex, North Carolina

On average, Section 8 Housing Choice vouchers pay Apex landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Apex.

The maximum amount a voucher would pay on behalf of a low-income tenant in Apex, North Carolina for a two-bedroom apartment is between $1,481 and $1,811.

Sourced from federal housing data and AffordableHousingOnline.com research.