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

Discover affordable housing in Waverly where there are 6+ 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.

Whispering Oaks Apartments

64 Ridge Rd, Waverly, Tennessee 37185

Creekview Manor Apartments

204 Clydeton Rd, Waverly, Tennessee 37185

Briarwood Apartments

116 Guy Barnett Dr, Waverly, Tennessee 37185

Waverly Residential Services

200 Airport Rd, Waverly, Tennessee 37185

Carroll Street Residential

215 Carroll Ave, Waverly, Tennessee 37185

Brookside

210 E Richland Ave, Waverly, Tennessee 37185

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

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

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

How many renters live in Waverly, Tennessee?

The City of Waverly has 4,284 people living in 1,861 households.

There are 1,270 renters living in 512 renter households in this City. Renters make up 29.65 percent of the population living in Waverly.

What is the rental market like in Waverly, Tennessee?

There are an estimated 2,291 housing units in the Waverly area. Of these, 574 units are rental homes, making up 25 percent of the housing market. For every renter household in Waverly, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Waverly?

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

Occupied Rental Units by Size in Waverly
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 61 312 123 16
Occupied Rental Units by Size in Waverly

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

Among renter households in this market, 42 percent have housing cost burden. Further, 13 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 Waverly

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $707 to $1,256. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $707
One BR $767
Two BR $861
Three BR $1,183
Four BR $1,256
2024 Fair Market Rents in Waverly, Tennessee

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

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 61 100 percent
Two BR 204 65 percent
Rental Units Below FMR in Waverly, Tennessee

How many affordable rental units are in Waverly?

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

Federal Program Unit Count
Low Income Housing Tax Credit 48
Public Housing 70
Section 8 Project-Based Rental Assistance 16
Section 811 Supportive Housing for Persons with Disabilities 4
Tracked Units by Federal Program in Waverly, Tennessee

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

Income Based Apartments in Waverly, Tennessee

Waverly features 197 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 Waverly, Tennessee

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Waverly.

Housing Choice Vouchers in Waverly, Tennessee

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.