What HUD offices serve Mount Gilead, 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 Mount Gilead.
How many renters live in Mount Gilead, North Carolina?
The City of Mount Gilead has 1,090 people living in 371 households.
There are 551 renters living in 175 renter households in this City. Renters make up 50.55 percent of the population living in Mount Gilead.
What is the rental market like in Mount Gilead, North Carolina?
There are an estimated 596 housing units in the Mount Gilead area. Of these, 226 units are rental homes, making up 38 percent of the housing market. For every renter household in Mount Gilead, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Mount Gilead?
The rental vacancy rate in Mount Gilead is 23 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 Mount Gilead for each bedroom size?
Occupied Rental Units by Size in Mount Gilead
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 60 | 10 | 39 | 16 | 23 |
Occupied Rental Units by Size in Mount Gilead
A large number of apartments in Mount Gilead 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 Mount Gilead are overburdened by housing costs?
Among renter households in this market, 29 percent have housing cost burden. Further, 7 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 Mount Gilead
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $691 to $1,439. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $691 |
| One BR | $695 |
| Two BR | $856 |
| Three BR | $1,089 |
| Four BR | $1,439 |
2024 Fair Market Rents in Mount Gilead, North Carolina
How many units are rented at Fair Market Rent (FMR) in Mount Gilead?
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 | 46 | 77 percent |
| One BR | 6 | 60 percent |
| Two BR | 3 | 8 percent |
Rental Units Below FMR in Mount Gilead, North Carolina
How many affordable rental units are in Mount Gilead?
There are a variety of federal affordable housing programs serving households in Mount Gilead, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 18 |
| Public Housing | 30 |
| USDA Section 515 Rural Rental Housing | 18 |
Tracked Units by Federal Program in Mount Gilead, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Mount Gilead, North Carolina
Mount Gilead features 18 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 Mount Gilead, North Carolina
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mount Gilead.
Housing Choice Vouchers in Mount Gilead, North Carolina
On average, Section 8 Housing Choice vouchers pay Mount Gilead landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Mount Gilead.
The maximum amount a voucher would pay on behalf of a low-income tenant in Mount Gilead, North Carolina for a two-bedroom apartment is between $770 and $942.
Sourced from federal housing data and AffordableHousingOnline.com research.
