What HUD offices serve Madison Heights, 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.
Go to the Virginia Public Housing and Low-Income Apartments Waiting Lists page for openings near Madison Heights.
How many renters live in Madison Heights, Virginia?
The City of Madison Heights has 10,694 people living in 4,656 households.
There are 3,095 renters living in 1,416 renter households in this City. Renters make up 28.94 percent of the population living in Madison Heights.
What is the rental market like in Madison Heights, Virginia?
There are an estimated 4,965 housing units in the Madison Heights area. Of these, 1,416 units are rental homes, making up 29 percent of the housing market. For every renter household in Madison Heights, Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Madison Heights?
The rental vacancy rate in Madison Heights 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 Madison Heights for each bedroom size?
Occupied Rental Units by Size in Madison Heights
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 78 | 211 | 577 | 373 | 164 |
Occupied Rental Units by Size in Madison Heights
A large number of apartments in Madison Heights 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 Madison Heights are overburdened by housing costs?
Among renter households in this market, 45 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 Madison Heights
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $948 to $1,627. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $948 |
| One BR | $966 |
| Two BR | $1,093 |
| Three BR | $1,494 |
| Four BR | $1,627 |
2024 Fair Market Rents in Madison Heights, Virginia
How many units are rented at Fair Market Rent (FMR) in Madison Heights?
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 | 78 | 100 percent |
| One BR | 195 | 92 percent |
| Two BR | 566 | 98 percent |
Rental Units Below FMR in Madison Heights, Virginia
How many affordable rental units are in Madison Heights?
There are a variety of federal affordable housing programs serving households in Madison Heights, Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 70 |
Tracked Units by Federal Program in Madison Heights, Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Madison Heights, Virginia
Madison Heights features 58 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 Madison Heights, Virginia
There are 22 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison Heights.
Housing Choice Vouchers in Madison Heights, Virginia
On average, Section 8 Housing Choice vouchers pay Madison Heights landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Madison Heights.
The maximum amount a voucher would pay on behalf of a low-income tenant in Madison Heights, Virginia for a two-bedroom apartment is between $984 and $1,202.
Sourced from federal housing data and AffordableHousingOnline.com research.
