Low Income Apartments and Affordable Housing For Rent in Stanley, NC

Discover affordable housing in Stanley 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.

Stanley Square Apartments

814 N Buckoak Street, Stanley, North Carolina 28164

Mclurd Manor

111 McLurd Manor Dr, Stanley, North Carolina 28164

Foxrun Ridge Lp

Foxrunridge And Ridge Rd, Stanley, North Carolina 28001

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 Stanley, 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 Stanley, North Carolina Affordable Housing ↓

What HUD offices serve Stanley, 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 Stanley, North Carolina.

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

How many renters live in Stanley, North Carolina?

The City of Stanley has 3,967 people living in 1,455 households.

There are 1,263 renters living in 452 renter households in this City. Renters make up 31.84 percent of the population living in Stanley.

What is the rental market like in Stanley, North Carolina?

There are an estimated 1,539 housing units in the Stanley area. Of these, 452 units are rental homes, making up 29 percent of the housing market. For every renter household in Stanley, North Carolina, there are 1 rental units.

What is the vacancy rate for rentals in Stanley?

The rental vacancy rate in Stanley 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 Stanley for each bedroom size?

Occupied Rental Units by Size in Stanley
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
7 6 240 195 0
Occupied Rental Units by Size in Stanley

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

Among renter households in this market, 32 percent have housing cost burden. Further, 3 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 Stanley

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 Stanley, North Carolina

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

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 6 100 percent
Two BR 235 98 percent
Rental Units Below FMR in Stanley, North Carolina

How many affordable rental units are in Stanley?

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

Federal Program Unit Count
Low Income Housing Tax Credit 34
Section 8 Project-Based Rental Assistance 40
USDA Section 515 Rural Rental Housing 34
Tracked Units by Federal Program in Stanley, North Carolina

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

Income Based Apartments in Stanley, North Carolina

Stanley features 74 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 Stanley, North Carolina

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stanley.

Housing Choice Vouchers in Stanley, North Carolina

On average, Section 8 Housing Choice vouchers pay Stanley landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Stanley.

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

Sourced from federal housing data and AffordableHousingOnline.com research.