How many renters live in Double Springs, Alabama?
The City of Double Springs has 1,361 people living in 503 households.
There are 508 renters living in 215 renter households in this City. Renters make up 37.33 percent of the population living in Double Springs.
What is the rental market like in Double Springs, Alabama?
There are an estimated 568 housing units in the Double Springs area. Of these, 215 units are rental homes, making up 38 percent of the housing market. For every renter household in Double Springs, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Double Springs?
The rental vacancy rate in Double Springs 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 Double Springs for each bedroom size?
Occupied Rental Units by Size in Double Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 82 | 99 | 13 | 21 |
Occupied Rental Units by Size in Double Springs
A large number of apartments in Double Springs 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 Double Springs are overburdened by housing costs?
Among renter households in this market, 51 percent have housing cost burden. Further, 8 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 Double Springs
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 Double Springs, Alabama
How many units are rented at Fair Market Rent (FMR) in Double Springs?
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 | 23 | 28 percent |
| Two BR | 85 | 86 percent |
Rental Units Below FMR in Double Springs, Alabama
How many affordable rental units are in Double Springs?
There are a variety of federal affordable housing programs serving households in Double Springs, Alabama including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 32 |
| Public Housing | 57 |
| USDA Section 515 Rural Rental Housing | 16 |
Tracked Units by Federal Program in Double Springs, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Double Springs, Alabama
Double Springs features 47 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 Double Springs, Alabama
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Double Springs.
Housing Choice Vouchers in Double Springs, Alabama
On average, Section 8 Housing Choice vouchers pay Double Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Double Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Double Springs, Alabama for a two-bedroom apartment is between $771 and $943.
Sourced from federal housing data and AffordableHousingOnline.com research.
