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

Discover affordable housing in Monteagle 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.

Monteagle Greene Apartments

48 Madison Ave, Monteagle, Tennessee 37356

Woodland Ridge Apartments

RR 1 Box 2773, Monteagle, Tennessee 37356

Ridgecrest Group Home

2nd Fairmont Ave, Monteagle, Tennessee 37356

Mountain Terrace

150 Raulston St, Monteagle, Tennessee 37356

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Monteagle, Tennessee
$23.33/hour
$16.08 (+222%) more than Tennessee minimum wage and $16.08 (+222%) more than the Federal minimum wage.
Learn More About Monteagle, Tennessee Affordable Housing ↓

What HUD offices serve Monteagle, 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, Section 8 Project-Based Voucher (PBV) programs for Monteagle, Tennessee.
Operates the Section 8 Housing Choice Voucher (HCV), Family Self-Sufficiency, Mainstream Voucher, Homeownership programs for Monteagle, Tennessee.

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

How many renters live in Monteagle, Tennessee?

The City of Monteagle has 1,915 people living in 690 households.

There are 589 renters living in 261 renter households in this City. Renters make up 30.76 percent of the population living in Monteagle.

What is the rental market like in Monteagle, Tennessee?

There are an estimated 955 housing units in the Monteagle area. Of these, 313 units are rental homes, making up 33 percent of the housing market. For every renter household in Monteagle, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Monteagle?

The rental vacancy rate in Monteagle is 13 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 Monteagle for each bedroom size?

Occupied Rental Units by Size in Monteagle
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 27 127 74 14
Occupied Rental Units by Size in Monteagle

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

Among renter households in this market, 50 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 Monteagle

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $731 to $1,384. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $731
One BR $735
Two BR $909
Three BR $1,175
Four BR $1,384
2024 Fair Market Rents in Monteagle, Tennessee

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

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 27 100 percent
Two BR 115 91 percent
Rental Units Below FMR in Monteagle, Tennessee

How many affordable rental units are in Monteagle?

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

Federal Program Unit Count
Low Income Housing Tax Credit 72
Section 8 Project-Based Rental Assistance 7
Tracked Units by Federal Program in Monteagle, Tennessee

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

Income Based Apartments in Monteagle, Tennessee

Monteagle features 145 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 Monteagle, Tennessee

There are 72 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monteagle.

Housing Choice Vouchers in Monteagle, Tennessee

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Monteagle, Tennessee for a two-bedroom apartment is between $1,109 and $1,355.

Sourced from federal housing data and AffordableHousingOnline.com research.