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

Discover affordable housing in Madison where there are 9+ 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.

Stoneridge Villas

1700 Balch Rd, Madison, Alabama 35749

Timberline Apartments

4998 Wall Triana Hwy, Madison, Alabama 35758

Dublin Village

106 W Dublin Dr , Madison, Alabama 35758

Eagles Landing Development

162 Royal Dr, Madison, Alabama 35758

Eagle Pointe Apartments

140 Royal Dr, Madison, Alabama 35758

Arlington Park Apartments

135 Royal Dr, Madison, Alabama 35758

Madison Homes

105 Angela Dr, Madison, Alabama 35758

Triana Ha

106A 8th St, Madison, Alabama 35756

The Arbors of Madison Formerly Parkwood Landing

7900 Madison Pike, Madison, Alabama 35758

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Madison, Alabama
$16.39 (+226%) more than Alabama minimum wage and $16.39 (+226%) more than the Federal minimum wage.
Learn More About Madison, Alabama Affordable Housing ↓

How many renters live in Madison, Alabama?

The City of Madison has 56,967 people living in 22,073 households.

There are 11,075 renters living in 5,567 renter households in this City. Renters make up 19.44 percent of the population living in Madison.

What is the rental market like in Madison, Alabama?

There are an estimated 22,752 housing units in the Madison area. Of these, 5,726 units are rental homes, making up 25 percent of the housing market. For every renter household in Madison, Alabama, there are 1 rental units.

What is the vacancy rate for rentals in Madison?

The rental vacancy rate in Madison is 1 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 Madison for each bedroom size?

Occupied Rental Units by Size in Madison
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
137 1,180 2,050 1,754 318
Occupied Rental Units by Size in Madison

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

Among renter households in this market, 34 percent have housing cost burden. Further, 16 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 Madison

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $900 to $1,937. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $900
One BR $1,067
Two BR $1,248
Three BR $1,619
Four BR $1,937
2024 Fair Market Rents in Madison, Alabama

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

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 29 21 percent
One BR 512 43 percent
Two BR 1,246 61 percent
Rental Units Below FMR in Madison, Alabama

How many affordable rental units are in Madison?

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

Federal Program Unit Count
Low Income Housing Tax Credit 457
Public Housing 50
Section 202 Supportive Housing for the Elderly 49
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Madison, Alabama

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

Income Based Apartments in Madison, Alabama

Madison features 167 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 Madison, Alabama

There are 390 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison.

Housing Choice Vouchers in Madison, Alabama

On average, Section 8 Housing Choice vouchers pay Madison landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Madison.

The maximum amount a voucher would pay on behalf of a low-income tenant in Madison, Alabama for a two-bedroom apartment is between $1,123 and $1,373.

Sourced from federal housing data and AffordableHousingOnline.com research.