Low Income Apartments and Affordable Housing For Rent in Oliver Springs, TN

Discover affordable housing in Oliver Springs where there are 1+ 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.

Brittain Village

202 Burney Dr, Oliver Springs, Tennessee 37840

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Oliver Springs, 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 Oliver Springs, Tennessee Affordable Housing ↓

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

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

How many renters live in Oliver Springs, Tennessee?

The City of Oliver Springs has 3,727 people living in 1,525 households.

There are 946 renters living in 435 renter households in this City. Renters make up 25.38 percent of the population living in Oliver Springs.

What is the rental market like in Oliver Springs, Tennessee?

There are an estimated 1,525 housing units in the Oliver Springs area. Of these, 435 units are rental homes, making up 29 percent of the housing market. For every renter household in Oliver Springs, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Oliver Springs?

The rental vacancy rate in Oliver Springs is 0 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 Oliver Springs for each bedroom size?

Occupied Rental Units by Size in Oliver Springs
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
154 0 147 107 27
Occupied Rental Units by Size in Oliver Springs

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

Among renter households in this market, 20 percent have housing cost burden. Further, 20 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 Oliver Springs

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 Oliver Springs, Tennessee

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

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 154 100 percent
Two BR 130 88 percent
Rental Units Below FMR in Oliver Springs, Tennessee

How many affordable rental units are in Oliver Springs?

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

Federal Program Unit Count
Public Housing 114
Tracked Units by Federal Program in Oliver Springs, Tennessee

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

Income Based Apartments in Oliver Springs, Tennessee

Oliver Springs features 113 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 Oliver Springs, Tennessee

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

Housing Choice Vouchers in Oliver Springs, Tennessee

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.