How many renters live in Yancey County, North Carolina?
The County of Yancey County has 18,538 people living in 7,859 households.
There are 3,941 renters living in 1,697 renter households in this County. Renters make up 21.26 percent of the population living in Yancey County.
What is the rental market like in Yancey County, North Carolina?
There are an estimated 11,266 housing units in the Yancey County area. Of these, 1,807 units are rental homes, making up 16 percent of the housing market. For every renter household in Yancey County, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Yancey County?
The rental vacancy rate in Yancey County 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 Yancey County for each bedroom size?
Occupied Rental Units by Size in Yancey County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 66 | 296 | 594 | 548 | 150 |
Occupied Rental Units by Size in Yancey County
A large number of apartments in Yancey 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 Yancey County are overburdened by housing costs?
Among renter households in this market, 27 percent have housing cost burden. Further, 13 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 Yancey County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $647 to $1,140. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $647 |
| One BR | $651 |
| Two BR | $856 |
| Three BR | $1,136 |
| Four BR | $1,140 |
2024 Fair Market Rents in Yancey County, North Carolina
How many units are rented at Fair Market Rent (FMR) in Yancey 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 | 57 | 86 percent |
| One BR | 142 | 48 percent |
| Two BR | 300 | 51 percent |
Rental Units Below FMR in Yancey County, North Carolina
How many affordable rental units are in Yancey County?
There are a variety of federal affordable housing programs serving households in Yancey County, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 154 |
| Section 8 Project-Based Rental Assistance | 42 |
| USDA Section 515 Rural Rental Housing | 94 |
Tracked Units by Federal Program in Yancey County, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Yancey County, North Carolina
Yancey County features 220 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 Yancey County, North Carolina
There are 72 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Yancey County.
Housing Choice Vouchers in Yancey County, North Carolina
On average, Section 8 Housing Choice vouchers pay Yancey County landlords $600 per month towards rent. The average voucher holder contributes $200 towards rent in Yancey County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Yancey County, North Carolina for a two-bedroom apartment is between $770 and $942.
Sourced from federal housing data and AffordableHousingOnline.com research.
