How many renters live in Black Mountain, North Carolina?
The City of Black Mountain has 8,430 people living in 3,867 households.
There are 2,623 renters living in 1,423 renter households in this City. Renters make up 31.12 percent of the population living in Black Mountain.
What is the rental market like in Black Mountain, North Carolina?
There are an estimated 4,905 housing units in the Black Mountain area. Of these, 1,615 units are rental homes, making up 33 percent of the housing market. For every renter household in Black Mountain, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Black Mountain?
The rental vacancy rate in Black Mountain 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 Black Mountain for each bedroom size?
Occupied Rental Units by Size in Black Mountain
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 448 | 241 | 421 | 313 | 0 |
Occupied Rental Units by Size in Black Mountain
A large number of apartments in Black Mountain 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 Black Mountain are overburdened by housing costs?
Among renter households in this market, 56 percent have housing cost burden. Further, 39 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 Black Mountain
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,428 to $2,851. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,428 |
| One BR | $1,496 |
| Two BR | $1,680 |
| Three BR | $2,160 |
| Four BR | $2,851 |
2024 Fair Market Rents in Black Mountain, North Carolina
How many units are rented at Fair Market Rent (FMR) in Black Mountain?
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 | 330 | 74 percent |
| One BR | 168 | 70 percent |
| Two BR | 266 | 63 percent |
Rental Units Below FMR in Black Mountain, North Carolina
How many affordable rental units are in Black Mountain?
There are a variety of federal affordable housing programs serving households in Black Mountain, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 77 |
| USDA Section 515 Rural Rental Housing | 78 |
Tracked Units by Federal Program in Black Mountain, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Black Mountain, North Carolina
Black Mountain features 78 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 Black Mountain, North Carolina
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Black Mountain.
Housing Choice Vouchers in Black Mountain, North Carolina
On average, Section 8 Housing Choice vouchers pay Black Mountain landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Black Mountain.
The maximum amount a voucher would pay on behalf of a low-income tenant in Black Mountain, North Carolina for a two-bedroom apartment is between $1,512 and $1,848.
Sourced from federal housing data and AffordableHousingOnline.com research.
