What HUD offices serve Goodwater, Alabama?
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 Alabama Public Housing and Low-Income Apartments Waiting Lists page for openings near Goodwater.
How many renters live in Goodwater, Alabama?
The City of Goodwater has 1,117 people living in 481 households.
There are 515 renters living in 214 renter households in this City. Renters make up 46.11 percent of the population living in Goodwater.
What is the rental market like in Goodwater, Alabama?
There are an estimated 787 housing units in the Goodwater area. Of these, 234 units are rental homes, making up 30 percent of the housing market. For every renter household in Goodwater, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Goodwater?
The rental vacancy rate in Goodwater is 5 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 Goodwater for each bedroom size?
Occupied Rental Units by Size in Goodwater
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 15 | 44 | 119 | 18 | 4 |
Occupied Rental Units by Size in Goodwater
A large number of apartments in Goodwater 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 Goodwater are overburdened by housing costs?
Among renter households in this market, 59 percent have housing cost burden. Further, 6 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 Goodwater
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $658 to $1,315. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $658 |
| One BR | $683 |
| Two BR | $879 |
| Three BR | $1,063 |
| Four BR | $1,315 |
2024 Fair Market Rents in Goodwater, Alabama
How many units are rented at Fair Market Rent (FMR) in Goodwater?
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 | 10 | 67 percent |
| One BR | 35 | 80 percent |
| Two BR | 94 | 79 percent |
Rental Units Below FMR in Goodwater, Alabama
How many affordable rental units are in Goodwater?
There are a variety of federal affordable housing programs serving households in Goodwater, Alabama including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 44 |
| Public Housing | 39 |
| USDA Section 515 Rural Rental Housing | 25 |
Tracked Units by Federal Program in Goodwater, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Goodwater, Alabama
Goodwater features 25 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 Goodwater, Alabama
There are 88 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Goodwater.
Housing Choice Vouchers in Goodwater, Alabama
On average, Section 8 Housing Choice vouchers pay Goodwater landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Goodwater.
The maximum amount a voucher would pay on behalf of a low-income tenant in Goodwater, Alabama for a two-bedroom apartment is between $791 and $967.
Sourced from federal housing data and AffordableHousingOnline.com research.
