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

Discover affordable housing in Lipscomb 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.

Oak Park Villas

2700 Oak Park Dr, Lipscomb, Alabama 35020

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Lipscomb, Alabama
$23.58/hour
$16.33 (+225%) more than Alabama minimum wage and $16.33 (+225%) more than the Federal minimum wage.
Learn More About Lipscomb, Alabama Affordable Housing ↓

What HUD offices serve Lipscomb, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Veteran Affairs Supportive Housing (VASH), Section 8 Project-Based Voucher (PBV), Section 8 Project-Based Rental Assistance (PBRA), Rental Assistance Demonstration (RAD) programs for Lipscomb, Alabama.
Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Lipscomb, Alabama.

Go to the Alabama Public Housing and Low-Income Apartments Waiting Lists page for openings near Lipscomb.

How many renters live in Lipscomb, Alabama?

The City of Lipscomb has 2,390 people living in 776 households.

There are 848 renters living in 232 renter households in this City. Renters make up 35.48 percent of the population living in Lipscomb.

What is the rental market like in Lipscomb, Alabama?

There are an estimated 976 housing units in the Lipscomb area. Of these, 244 units are rental homes, making up 25 percent of the housing market. For every renter household in Lipscomb, Alabama, there are 1 rental units.

What is the vacancy rate for rentals in Lipscomb?

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

Occupied Rental Units by Size in Lipscomb
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 26 77 129 0
Occupied Rental Units by Size in Lipscomb

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

Among renter households in this market, 56 percent have housing cost burden. Further, 19 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 Lipscomb

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $983 to $1,752. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $983
One BR $1,109
Two BR $1,245
Three BR $1,570
Four BR $1,752
2024 Fair Market Rents in Lipscomb, Alabama

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

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 22 85 percent
Two BR 59 77 percent
Rental Units Below FMR in Lipscomb, Alabama

How many affordable rental units are in Lipscomb?

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

Federal Program Unit Count
Low Income Housing Tax Credit 40
Public Housing 13
Tracked Units by Federal Program in Lipscomb, Alabama

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

Income Based Apartments in Lipscomb, Alabama

Lipscomb features 0 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 Lipscomb, Alabama

There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lipscomb.

Housing Choice Vouchers in Lipscomb, Alabama

On average, Section 8 Housing Choice vouchers pay Lipscomb landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Lipscomb.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lipscomb, Alabama for a two-bedroom apartment is between $1,121 and $1,370.

Sourced from federal housing data and AffordableHousingOnline.com research.