What HUD offices serve Madison, 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.
Go to the North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Madison.
How many renters live in Madison, North Carolina?
The City of Madison has 2,185 people living in 1,013 households.
There are 843 renters living in 372 renter households in this City. Renters make up 38.58 percent of the population living in Madison.
What is the rental market like in Madison, North Carolina?
There are an estimated 1,125 housing units in the Madison area. Of these, 406 units are rental homes, making up 36 percent of the housing market. For every renter household in Madison, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Madison?
The rental vacancy rate in Madison is 3 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 Madison for each bedroom size?
Occupied Rental Units by Size in Madison
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 111 | 132 | 127 | 0 |
Occupied Rental Units by Size in Madison
A large number of apartments in Madison 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 Madison are overburdened by housing costs?
Among renter households in this market, 22 percent have housing cost burden. Further, 15 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 Madison
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $633 to $1,360. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $633 |
| One BR | $719 |
| Two BR | $934 |
| Three BR | $1,198 |
| Four BR | $1,360 |
2024 Fair Market Rents in Madison, North Carolina
How many units are rented at Fair Market Rent (FMR) in Madison?
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 | 108 | 97 percent |
| Two BR | 106 | 80 percent |
Rental Units Below FMR in Madison, North Carolina
How many affordable rental units are in Madison?
There are a variety of federal affordable housing programs serving households in Madison, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 101 |
| Public Housing | 50 |
| Section 811 Supportive Housing for Persons with Disabilities | 6 |
| USDA Section 515 Rural Rental Housing | 40 |
Tracked Units by Federal Program in Madison, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Madison, North Carolina
Madison features 96 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 Madison, North Carolina
There are 61 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison.
Housing Choice Vouchers in Madison, North Carolina
On average, Section 8 Housing Choice vouchers pay Madison landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Madison.
The maximum amount a voucher would pay on behalf of a low-income tenant in Madison, North Carolina for a two-bedroom apartment is between $841 and $1,027.
Sourced from federal housing data and AffordableHousingOnline.com research.
