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

Discover affordable housing in Lexington where there are 3+ 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.

Hermitage Apartments

119 Hermitage, Lexington, Alabama 35648

Westview Apartments

120 Westview, Lexington, Alabama 35648

Fieldcrest Apartments

111 Fieldcrest, Lexington, Alabama 35648

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lexington, Alabama
$17.80/hour
$10.55 (+146%) more than Alabama minimum wage and $10.55 (+146%) more than the Federal minimum wage.
Learn More About Lexington, Alabama Affordable Housing ↓

How many renters live in Lexington, Alabama?

The City of Lexington has 806 people living in 306 households.

There are 334 renters living in 123 renter households in this City. Renters make up 41.44 percent of the population living in Lexington.

What is the rental market like in Lexington, Alabama?

There are an estimated 358 housing units in the Lexington area. Of these, 128 units are rental homes, making up 36 percent of the housing market. For every renter household in Lexington, Alabama, there are 1 rental units.

What is the vacancy rate for rentals in Lexington?

The rental vacancy rate in Lexington 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 Lexington for each bedroom size?

Occupied Rental Units by Size in Lexington
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
2 13 45 59 4
Occupied Rental Units by Size in Lexington

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

Among renter households in this market, 24 percent have housing cost burden. Further, 7 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 Lexington

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $664 to $1,425. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $664
One BR $720
Two BR $940
Three BR $1,157
Four BR $1,425
2024 Fair Market Rents in Lexington, Alabama

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

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 0 100 percent
One BR 13 100 percent
Two BR 44 98 percent
Rental Units Below FMR in Lexington, Alabama

How many affordable rental units are in Lexington?

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

Federal Program Unit Count
Low Income Housing Tax Credit 48
USDA Section 515 Rural Rental Housing 48
Tracked Units by Federal Program in Lexington, Alabama

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

Income Based Apartments in Lexington, Alabama

Lexington features 48 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 Lexington, Alabama

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

Housing Choice Vouchers in Lexington, Alabama

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Lexington, Alabama for a two-bedroom apartment is between $846 and $1,034.

Sourced from federal housing data and AffordableHousingOnline.com research.