Low Income Apartments and Affordable Housing For Rent in Big Stone Gap, VA

Discover affordable housing in Big Stone Gap 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.

Woodstone Village II

273 Woodstone Dr E, Big Stone Gap, Virginia 24219

Planning District I Development Corp.

101 Laurel Rdg, Big Stone Gap, Virginia 24219

Two Inc

199 Laurel Rdg, Big Stone Gap, Virginia 24219

Dogwood Terrace Apartments

17 Mountain View Cir, Big Stone Gap, Virginia 24219

Dogwood Terrace ( Aka Mountain View Townhouses )

170 Dogwood Ter, Big Stone Gap, Virginia 24219

calendar_today Opened: Oct 9
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 Big Stone Gap, Virginia
$17.14/hour
$5.14 (+43%) more than Virginia minimum wage and $9.89 (+136%) more than the Federal minimum wage.
Learn More About Big Stone Gap, Virginia Affordable Housing ↓

What HUD offices serve Big Stone Gap, Virginia?

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 Big Stone Gap, Virginia.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Big Stone Gap, Virginia.

Go to the Virginia Public Housing and Low-Income Apartments Waiting Lists page for openings near Big Stone Gap.

How many renters live in Big Stone Gap, Virginia?

The City of Big Stone Gap has 5,221 people living in 1,623 households.

There are 2,185 renters living in 822 renter households in this City. Renters make up 41.85 percent of the population living in Big Stone Gap.

What is the rental market like in Big Stone Gap, Virginia?

There are an estimated 1,872 housing units in the Big Stone Gap area. Of these, 891 units are rental homes, making up 48 percent of the housing market. For every renter household in Big Stone Gap, Virginia, there are 1 rental units.

What is the vacancy rate for rentals in Big Stone Gap?

The rental vacancy rate in Big Stone Gap is 8 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 Big Stone Gap for each bedroom size?

Occupied Rental Units by Size in Big Stone Gap
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
29 42 190 408 153
Occupied Rental Units by Size in Big Stone Gap

A large number of apartments in Big Stone Gap 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 Big Stone Gap are overburdened by housing costs?

Among renter households in this market, 23 percent have housing cost burden. Further, 5 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 Big Stone Gap

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $730 to $1,536. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $730
One BR $734
Two BR $905
Three BR $1,234
Four BR $1,536
2024 Fair Market Rents in Big Stone Gap, Virginia

How many units are rented at Fair Market Rent (FMR) in Big Stone Gap?

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 0 100 percent
One BR 25 60 percent
Two BR 154 81 percent
Rental Units Below FMR in Big Stone Gap, Virginia

How many affordable rental units are in Big Stone Gap?

There are a variety of federal affordable housing programs serving households in Big Stone Gap, Virginia including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 151
Public Housing 22
Section 8 Project-Based Rental Assistance 117
USDA Section 515 Rural Rental Housing 54
Tracked Units by Federal Program in Big Stone Gap, Virginia

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

Income Based Apartments in Big Stone Gap, Virginia

Big Stone Gap features 135 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 Big Stone Gap, Virginia

There are 97 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Big Stone Gap.

Housing Choice Vouchers in Big Stone Gap, Virginia

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Big Stone Gap, Virginia for a two-bedroom apartment is between $815 and $996.

Sourced from federal housing data and AffordableHousingOnline.com research.