How many renters live in Clay County, Alabama?
The County of Clay County has 14,209 people living in 5,485 households.
There are 2,725 renters living in 1,188 renter households in this County. Renters make up 19.18 percent of the population living in Clay County.
What is the rental market like in Clay County, Alabama?
There are an estimated 7,040 housing units in the Clay County area. Of these, 1,462 units are rental homes, making up 21 percent of the housing market. For every renter household in Clay County, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Clay County?
The rental vacancy rate in Clay County is 16 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 Clay County for each bedroom size?
Occupied Rental Units by Size in Clay County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 40 | 284 | 452 | 316 | 96 |
Occupied Rental Units by Size in Clay County
A large number of apartments in Clay County 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 Clay County are overburdened by housing costs?
Among renter households in this market, 31 percent have housing cost burden. Further, 10 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 Clay County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $620 to $1,258. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $620 |
| One BR | $700 |
| Two BR | $857 |
| Three BR | $1,175 |
| Four BR | $1,258 |
2024 Fair Market Rents in Clay County, Alabama
How many units are rented at Fair Market Rent (FMR) in Clay County?
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 | 40 | 100 percent |
| One BR | 254 | 89 percent |
| Two BR | 377 | 83 percent |
Rental Units Below FMR in Clay County, Alabama
How many affordable rental units are in Clay County?
There are a variety of federal affordable housing programs serving households in Clay County, Alabama including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 100 |
| Public Housing | 146 |
| Section 8 Project-Based Rental Assistance | 238 |
| USDA Section 515 Rural Rental Housing | 64 |
Tracked Units by Federal Program in Clay County, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Clay County, Alabama
Clay County features 449 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 Clay County, Alabama
There are 76 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Clay County.
Housing Choice Vouchers in Clay County, Alabama
On average, Section 8 Housing Choice vouchers pay Clay County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Clay County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Clay County, Alabama for a two-bedroom apartment is between $771 and $943.
Sourced from federal housing data and AffordableHousingOnline.com research.
