Low Income Apartments and Affordable Housing For Rent in Hancock County, TN

Discover affordable housing in Hancock County where there are 4+ 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.

Tremount Apartments

153 Whitney Cir, Sneedville, Tennessee 37869

Sneedville Gardens

300 Otis Greene Drive, Sneedville, Tennessee 37869

Mountain View Apartments

235 John McNell Blvd., Sneedville, Tennessee 37869

Sneedville Manor

198 Manor Drive, Sneedville, Tennessee

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Hancock County, Tennessee
$16.31/hour
$9.06 (+125%) more than Tennessee minimum wage and $9.06 (+125%) more than the Federal minimum wage.
Learn More About Hancock County, Tennessee Affordable Housing ↓

How many renters live in Hancock County, Tennessee?

The County of Hancock County has 6,726 people living in 2,829 households.

There are 1,495 renters living in 626 renter households in this County. Renters make up 22.23 percent of the population living in Hancock County.

What is the rental market like in Hancock County, Tennessee?

There are an estimated 3,666 housing units in the Hancock County area. Of these, 671 units are rental homes, making up 18 percent of the housing market. For every renter household in Hancock County, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Hancock County?

The rental vacancy rate in Hancock 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 Hancock County for each bedroom size?

Occupied Rental Units by Size in Hancock County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 137 256 160 58
Occupied Rental Units by Size in Hancock County

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

Among renter households in this market, 40 percent have housing cost burden. Further, 29 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 Hancock County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $707 to $1,384. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $707
One BR $767
Two BR $861
Three BR $1,041
Four BR $1,384
2024 Fair Market Rents in Hancock County, Tennessee

How many units are rented at Fair Market Rent (FMR) in Hancock 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
One BR 84 61 percent
Two BR 133 52 percent
Rental Units Below FMR in Hancock County, Tennessee

How many affordable rental units are in Hancock County?

There are a variety of federal affordable housing programs serving households in Hancock County, Tennessee including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 140
Public Housing 25
Section 8 Project-Based Rental Assistance 51
USDA Section 515 Rural Rental Housing 138
Tracked Units by Federal Program in Hancock County, Tennessee

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

Income Based Apartments in Hancock County, Tennessee

Hancock County features 189 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 Hancock County, Tennessee

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

Housing Choice Vouchers in Hancock County, Tennessee

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Hancock County, Tennessee for a two-bedroom apartment is between $775 and $947.

Sourced from federal housing data and AffordableHousingOnline.com research.