How many renters live in Swain County, North Carolina?
The County of Swain County has 14,130 people living in 5,684 households.
There are 4,024 renters living in 1,549 renter households in this County. Renters make up 28.48 percent of the population living in Swain County.
What is the rental market like in Swain County, North Carolina?
There are an estimated 8,451 housing units in the Swain County area. Of these, 1,711 units are rental homes, making up 20 percent of the housing market. For every renter household in Swain County, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Swain County?
The rental vacancy rate in Swain County is 8 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 Swain County for each bedroom size?
Occupied Rental Units by Size in Swain County
Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
---|---|---|---|---|
67 | 156 | 732 | 508 | 86 |
Occupied Rental Units by Size in Swain County
A large number of apartments in Swain County 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 Swain County are overburdened by housing costs?
Among renter households in this market, 29 percent have housing cost burden. Further, 19 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 Swain County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $652 to $1,305. FMRs are updated annually by HUD for every city and county nationwide.
Bed Size | 2024 Fair Market Rents |
Studio | $652 |
One BR | $656 |
Two BR | $856 |
Three BR | $1,206 |
Four BR | $1,305 |
2024 Fair Market Rents in Swain County, North Carolina
How many units are rented at Fair Market Rent (FMR) in Swain County?
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 | 45 | 67 percent |
One BR | 106 | 68 percent |
Two BR | 441 | 60 percent |
Rental Units Below FMR in Swain County, North Carolina
How many affordable rental units are in Swain County?
There are a variety of federal affordable housing programs serving households in Swain County, North Carolina including the following:
Federal Program | Unit Count |
Low Income Housing Tax Credit | 72 |
USDA Section 515 Rural Rental Housing | 44 |
Tracked Units by Federal Program in Swain County, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Swain County, North Carolina
Swain County features 44 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 Swain County, North Carolina
There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Swain County.
Housing Choice Vouchers in Swain County, North Carolina
On average, Section 8 Housing Choice vouchers pay Swain County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Swain County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Swain County, North Carolina for a two-bedroom apartment is between $770 and $942.
Sourced from federal housing data and AffordableHousingOnline.com research.