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

Discover affordable housing in Watertown 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.

Beckwith Apartments

302 Beckwith St, Watertown, Tennessee 37184

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Watertown, Tennessee
$30.66/hour
$23.41 (+323%) more than Tennessee minimum wage and $23.41 (+323%) more than the Federal minimum wage.
Learn More About Watertown, Tennessee Affordable Housing ↓

What HUD offices serve Watertown, 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), Family Self-Sufficiency, Mainstream Voucher, Homeownership programs for Watertown, Tennessee.

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

How many renters live in Watertown, Tennessee?

The City of Watertown has 1,637 people living in 645 households.

There are 511 renters living in 188 renter households in this City. Renters make up 31.22 percent of the population living in Watertown.

What is the rental market like in Watertown, Tennessee?

There are an estimated 676 housing units in the Watertown area. Of these, 188 units are rental homes, making up 28 percent of the housing market. For every renter household in Watertown, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Watertown?

The rental vacancy rate in Watertown 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 Watertown for each bedroom size?

Occupied Rental Units by Size in Watertown
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 17 70 94 5
Occupied Rental Units by Size in Watertown

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

Among renter households in this market, 31 percent have housing cost burden. Further, 16 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 Watertown

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,404 to $2,482. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,404
One BR $1,442
Two BR $1,619
Three BR $2,035
Four BR $2,482
2024 Fair Market Rents in Watertown, Tennessee

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

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 17 100 percent
Two BR 57 81 percent
Rental Units Below FMR in Watertown, Tennessee

How many affordable rental units are in Watertown?

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

Federal Program Unit Count
Low Income Housing Tax Credit 24
Public Housing 20
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Watertown, Tennessee

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

Income Based Apartments in Watertown, Tennessee

Watertown features 24 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 Watertown, Tennessee

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

Housing Choice Vouchers in Watertown, Tennessee

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Watertown, Tennessee for a two-bedroom apartment is between $1,457 and $1,781.

Sourced from federal housing data and AffordableHousingOnline.com research.