Low Income Apartments and Affordable Housing For Rent in Granite Falls, NC

Discover affordable housing in Granite Falls where there are 5+ 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.

Pinewood Plaza Apartments

10 Pinewood Plaza Dr, Granite Falls, North Carolina 28630

Woodlane Street Apartments

113 F. Woodlane St. Ext., Granite Falls, North Carolina 28630

Landmark

30 Quarry Road, Granite Falls, North Carolina 28630

Willow Oaks, Ltd

10 Quarry Rd, Granite Falls, North Carolina 28630

Granite Village Apartments

112 Falls Avenue, Granite Falls, North Carolina 28630

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Granite Falls, North Carolina
$19.20/hour
$11.95 (+165%) more than North Carolina minimum wage and $11.95 (+165%) more than the Federal minimum wage.
Learn More About Granite Falls, North Carolina Affordable Housing ↓

What HUD offices serve Granite Falls, 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), Family Self-Sufficiency, Homeownership, Family Unification Program (FUP) programs for Granite Falls, North Carolina.

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

How many renters live in Granite Falls, North Carolina?

The City of Granite Falls has 4,934 people living in 1,686 households.

There are 1,269 renters living in 498 renter households in this City. Renters make up 25.72 percent of the population living in Granite Falls.

What is the rental market like in Granite Falls, North Carolina?

There are an estimated 1,754 housing units in the Granite Falls area. Of these, 498 units are rental homes, making up 28 percent of the housing market. For every renter household in Granite Falls, North Carolina, there are 1 rental units.

What is the vacancy rate for rentals in Granite Falls?

The rental vacancy rate in Granite Falls 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 Granite Falls for each bedroom size?

Occupied Rental Units by Size in Granite Falls
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 71 270 149 8
Occupied Rental Units by Size in Granite Falls

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

Among renter households in this market, 35 percent have housing cost burden. Further, 23 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 Granite Falls

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $806 to $1,506. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $806
One BR $834
Two BR $1,014
Three BR $1,314
Four BR $1,506
2024 Fair Market Rents in Granite Falls, North Carolina

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

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 63 89 percent
Two BR 209 77 percent
Rental Units Below FMR in Granite Falls, North Carolina

How many affordable rental units are in Granite Falls?

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

Federal Program Unit Count
Low Income Housing Tax Credit 66
Section 8 Project-Based Rental Assistance 57
USDA Section 515 Rural Rental Housing 167
Tracked Units by Federal Program in Granite Falls, North Carolina

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

Income Based Apartments in Granite Falls, North Carolina

Granite Falls features 138 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 Granite Falls, North Carolina

There are 66 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Granite Falls.

Housing Choice Vouchers in Granite Falls, North Carolina

On average, Section 8 Housing Choice vouchers pay Granite Falls landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Granite Falls.

The maximum amount a voucher would pay on behalf of a low-income tenant in Granite Falls, North Carolina for a two-bedroom apartment is between $913 and $1,115.

Sourced from federal housing data and AffordableHousingOnline.com research.