Low Income Apartments and Affordable Housing For Rent in Addison, AL

Discover affordable housing in Addison 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.

Cardinal Apartments

48 Westridge Dr, Addison, Alabama 35540

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Addison, Alabama
$16.23/hour
$8.98 (+124%) more than Alabama minimum wage and $8.98 (+124%) more than the Federal minimum wage.
Learn More About Addison, Alabama Affordable Housing ↓

How many renters live in Addison, Alabama?

The City of Addison has 665 people living in 277 households.

There are 192 renters living in 87 renter households in this City. Renters make up 28.87 percent of the population living in Addison.

What is the rental market like in Addison, Alabama?

There are an estimated 361 housing units in the Addison area. Of these, 96 units are rental homes, making up 27 percent of the housing market. For every renter household in Addison, Alabama, there are 1 rental units.

What is the vacancy rate for rentals in Addison?

The rental vacancy rate in Addison is 9 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 Addison for each bedroom size?

Occupied Rental Units by Size in Addison
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 2 32 49 4
Occupied Rental Units by Size in Addison

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

Among renter households in this market, 17 percent have housing cost burden. Further, 0 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 Addison

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $642 to $1,192. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $642
One BR $652
Two BR $857
Three BR $1,175
Four BR $1,192
2024 Fair Market Rents in Addison, Alabama

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

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 2 100 percent
Two BR 23 72 percent
Rental Units Below FMR in Addison, Alabama

How many affordable rental units are in Addison?

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

Federal Program Unit Count
Public Housing 22
USDA Section 515 Rural Rental Housing 12
Tracked Units by Federal Program in Addison, Alabama

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

Income Based Apartments in Addison, Alabama

Addison features 12 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 Addison, Alabama

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

Housing Choice Vouchers in Addison, Alabama

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Addison, Alabama for a two-bedroom apartment is between $771 and $943.

Sourced from federal housing data and AffordableHousingOnline.com research.