Low Income Apartments and Affordable Housing For Rent in Loudon, TN

Discover affordable housing in Loudon where there are 8+ 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.

Peaks of Loudon

1085 Carding Machine Rd, Loudon, Tennessee 37774

Lakeview Apartments

1521 Grove Street, Loudon, Tennessee 37774

Loudon Gardens

300 Clyde St, Loudon, Tennessee 37774

Westside Terrace

939 Maremont Pkwy, Loudon, Tennessee 37774

Loudonview Apartments

1519 Grove St, Loudon, Tennessee 37774

Act III Group Home

1411 Grove St, Loudon, Tennessee 37774

The Peaks of Loudon

Carding Machine Rd, Loudon, Tennessee 37774

Creekwood Homes

122 Hackberry St, Loudon, Tennessee 37774

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Loudon, Tennessee
$23.13/hour
$15.88 (+219%) more than Tennessee minimum wage and $15.88 (+219%) more than the Federal minimum wage.
Learn More About Loudon, Tennessee Affordable Housing ↓

What HUD offices serve Loudon, 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.

Operates the Public Housing programs for Loudon, Tennessee.
Operates the Section 8 Housing Choice Voucher (HCV), Family Self-Sufficiency, Mainstream Voucher, Homeownership programs for Loudon, Tennessee.

Go to the Tennessee Public Housing and Low-Income Apartments Waiting Lists page for openings near Loudon.

How many renters live in Loudon, Tennessee?

The City of Loudon has 6,069 people living in 2,348 households.

There are 2,072 renters living in 809 renter households in this City. Renters make up 34.14 percent of the population living in Loudon.

What is the rental market like in Loudon, Tennessee?

There are an estimated 2,557 housing units in the Loudon area. Of these, 818 units are rental homes, making up 32 percent of the housing market. For every renter household in Loudon, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Loudon?

The rental vacancy rate in Loudon is 1 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 Loudon for each bedroom size?

Occupied Rental Units by Size in Loudon
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
76 97 300 287 17
Occupied Rental Units by Size in Loudon

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

Among renter households in this market, 41 percent have housing cost burden. Further, 21 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 Loudon

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $985 to $1,833. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $985
One BR $1,000
Two BR $1,221
Three BR $1,578
Four BR $1,833
2024 Fair Market Rents in Loudon, Tennessee

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

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 30 39 percent
One BR 79 81 percent
Two BR 221 74 percent
Rental Units Below FMR in Loudon, Tennessee

How many affordable rental units are in Loudon?

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

Federal Program Unit Count
Low Income Housing Tax Credit 107
Section 8 Project-Based Rental Assistance 172
USDA Section 515 Rural Rental Housing 96
Tracked Units by Federal Program in Loudon, Tennessee

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

Income Based Apartments in Loudon, Tennessee

Loudon features 276 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 Loudon, Tennessee

There are 164 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Loudon.

Housing Choice Vouchers in Loudon, Tennessee

On average, Section 8 Housing Choice vouchers pay Loudon landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Loudon.

The maximum amount a voucher would pay on behalf of a low-income tenant in Loudon, Tennessee for a two-bedroom apartment is between $1,099 and $1,343.

Sourced from federal housing data and AffordableHousingOnline.com research.