What HUD offices serve Gainesboro, Tennessee?
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 Tennessee Public Housing and Low-Income Apartments Waiting Lists page for openings near Gainesboro.
How many renters live in Gainesboro, Tennessee?
The City of Gainesboro has 1,086 people living in 341 households.
There are 327 renters living in 113 renter households in this City. Renters make up 30.11 percent of the population living in Gainesboro.
What is the rental market like in Gainesboro, Tennessee?
There are an estimated 427 housing units in the Gainesboro area. Of these, 135 units are rental homes, making up 32 percent of the housing market. For every renter household in Gainesboro, Tennessee, there are 1 rental units.
What is the vacancy rate for rentals in Gainesboro?
The rental vacancy rate in Gainesboro is 12 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 Gainesboro for each bedroom size?
Occupied Rental Units by Size in Gainesboro
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 34 | 54 | 19 | 6 |
Occupied Rental Units by Size in Gainesboro
A large number of apartments in Gainesboro 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 Gainesboro are overburdened by housing costs?
Among renter households in this market, 49 percent have housing cost burden. Further, 18 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 Gainesboro
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $651 to $1,209. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $651 |
| One BR | $655 |
| Two BR | $861 |
| Three BR | $1,041 |
| Four BR | $1,209 |
2024 Fair Market Rents in Gainesboro, Tennessee
How many units are rented at Fair Market Rent (FMR) in Gainesboro?
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 |
| One BR | 30 | 88 percent |
| Two BR | 38 | 70 percent |
Rental Units Below FMR in Gainesboro, Tennessee
How many affordable rental units are in Gainesboro?
There are a variety of federal affordable housing programs serving households in Gainesboro, Tennessee including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 16 |
| Public Housing | 43 |
| Section 8 Project-Based Rental Assistance | 24 |
| USDA Section 515 Rural Rental Housing | 40 |
Tracked Units by Federal Program in Gainesboro, Tennessee
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Gainesboro, Tennessee
Gainesboro features 90 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 Gainesboro, Tennessee
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Gainesboro.
Housing Choice Vouchers in Gainesboro, Tennessee
On average, Section 8 Housing Choice vouchers pay Gainesboro landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Gainesboro.
The maximum amount a voucher would pay on behalf of a low-income tenant in Gainesboro, Tennessee for a two-bedroom apartment is between $775 and $947.
Sourced from federal housing data and AffordableHousingOnline.com research.
