Low Income Apartments and Affordable Housing For Rent in Spring City, TN

Discover affordable housing in Spring City where there are 5+ 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.

Cherry Hill Apartments

140 Cherry Hill Ln, Spring City, Tennessee 37381

Autumn Ridge Apartments

116 Autumn Ridge Ct, Spring City, Tennessee 37381

Rhea County New Development

123 Hattie Ln, Spring City, Tennessee 37381

Hattie Ln

Hattie Ln, Spring City, Tennessee 37381

Valleyview Apartments

455 Cemetery Rd, Spring City, Tennessee 37381

calendar_today Opened: Apr 8
Open Until Further Notice

Reported On February 23rd, 2024 by Lorena Bentley

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

What HUD offices serve Spring City, 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 Section 8 Housing Choice Voucher (HCV), Public Housing programs for Spring City, Tennessee.

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

How many renters live in Spring City, Tennessee?

The City of Spring City has 2,294 people living in 1,012 households.

There are 595 renters living in 323 renter households in this City. Renters make up 25.94 percent of the population living in Spring City.

What is the rental market like in Spring City, Tennessee?

There are an estimated 1,123 housing units in the Spring City area. Of these, 323 units are rental homes, making up 29 percent of the housing market. For every renter household in Spring City, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Spring City?

The rental vacancy rate in Spring City 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 Spring City for each bedroom size?

Occupied Rental Units by Size in Spring City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 50 198 69 6
Occupied Rental Units by Size in Spring City

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

Among renter households in this market, 36 percent have housing cost burden. Further, 25 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 Spring City

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $651 to $1,147. 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 $1,142
Four BR $1,147
2024 Fair Market Rents in Spring City, Tennessee

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

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 44 88 percent
Two BR 133 67 percent
Rental Units Below FMR in Spring City, Tennessee

How many affordable rental units are in Spring City?

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

Federal Program Unit Count
Low Income Housing Tax Credit 40
Public Housing 25
Section 8 Project-Based Rental Assistance 1
Section 202 Supportive Housing for the Elderly 28
Tracked Units by Federal Program in Spring City, Tennessee

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

Income Based Apartments in Spring City, Tennessee

Spring City features 31 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 Spring City, Tennessee

There are 205 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Spring City.

Housing Choice Vouchers in Spring City, Tennessee

On average, Section 8 Housing Choice vouchers pay Spring City landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Spring City.

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

Sourced from federal housing data and AffordableHousingOnline.com research.