Low Income Apartments and Affordable Housing For Rent in Mount Holly, NC

Discover affordable housing in Mount Holly where there are 3+ 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.

Woodridge Apartments

160 Houston Street, Mount Holly, North Carolina 28120

Rollins Apartments

311 S Hawthorne St, Mount Holly, North Carolina 28120

Holly Hill Apartments

635 Noles Dr, Mount Holly, North Carolina 28120

calendar_today Opened: Oct 1
Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Mount Holly, North Carolina
$29.43/hour
$22.18 (+306%) more than North Carolina minimum wage and $22.18 (+306%) more than the Federal minimum wage.
Learn More About Mount Holly, North Carolina Affordable Housing ↓

What HUD offices serve Mount Holly, 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), Rental Assistance Demonstration (RAD) programs for Mount Holly, North Carolina.
Operates the Public Housing programs for Mount Holly, North Carolina.

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

How many renters live in Mount Holly, North Carolina?

The City of Mount Holly has 17,644 people living in 7,037 households.

There are 4,458 renters living in 2,170 renter households in this City. Renters make up 25.27 percent of the population living in Mount Holly.

What is the rental market like in Mount Holly, North Carolina?

There are an estimated 7,334 housing units in the Mount Holly area. Of these, 2,252 units are rental homes, making up 31 percent of the housing market. For every renter household in Mount Holly, North Carolina, there are 1 rental units.

What is the vacancy rate for rentals in Mount Holly?

The rental vacancy rate in Mount Holly is 4 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 Mount Holly for each bedroom size?

Occupied Rental Units by Size in Mount Holly
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
7 441 1,061 495 161
Occupied Rental Units by Size in Mount Holly

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

Among renter households in this market, 50 percent have housing cost burden. Further, 27 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 Holly

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,347 to $2,481. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,347
One BR $1,384
Two BR $1,554
Three BR $1,936
Four BR $2,481
2024 Fair Market Rents in Mount Holly, North Carolina

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

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 7 100 percent
One BR 312 71 percent
Two BR 1,001 94 percent
Rental Units Below FMR in Mount Holly, North Carolina

How many affordable rental units are in Mount Holly?

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

Federal Program Unit Count
Low Income Housing Tax Credit 42
Public Housing 46
Section 8 Project-Based Rental Assistance 34
USDA Section 515 Rural Rental Housing 90
Tracked Units by Federal Program in Mount Holly, North Carolina

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

Income Based Apartments in Mount Holly, North Carolina

Mount Holly features 122 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 Holly, North Carolina

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mount Holly.

Housing Choice Vouchers in Mount Holly, North Carolina

On average, Section 8 Housing Choice vouchers pay Mount Holly landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Mount Holly.

The maximum amount a voucher would pay on behalf of a low-income tenant in Mount Holly, North Carolina for a two-bedroom apartment is between $1,399 and $1,709.

Sourced from federal housing data and AffordableHousingOnline.com research.