Low Income Apartments and Affordable Housing For Rent in New Hope, AL

Discover affordable housing in New Hope where there are 2+ 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.

New Hope Village Apartments

114 Lemley Cir, New Hope, Alabama 35760

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Oak Ridge Apartments Formerly Spearswood

100 Merritt Dr, New Hope, Alabama 35760

bed 1-3
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
accessibility Accessible

How To Identify Affordable Housing in New Hope, Alabama

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In New Hope, Alabama
$23.64/hour
$16.39 (+226%) more than Alabama minimum wage and $16.39 (+226%) more than the Federal minimum wage.
Learn More About New Hope, Alabama Affordable Housing ↓

What HUD offices serve New Hope, 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 programs for New Hope, Alabama.

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

How many renters live in New Hope, Alabama?

The City of New Hope has people living in households.

There are renters living in renter households in this City. Renters make up 21.63 percent of the population living in New Hope.

What is the rental market like in New Hope, Alabama?

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

What is the vacancy rate for rentals in New Hope?

The rental vacancy rate in New Hope 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 New Hope for each bedroom size?

Occupied Rental Units by Size in New Hope
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 10 90 104 13
Occupied Rental Units by Size in New Hope

A large number of apartments in New Hope have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in New Hope

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 New Hope, Alabama

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

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 10 100 percent
Two BR 47 52 percent
Rental Units Below FMR in New Hope, Alabama

How many affordable rental units are in New Hope?

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

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

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

Income Based Apartments in New Hope, Alabama

New Hope features 16 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 New Hope, Alabama

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Hope.

Housing Choice Vouchers in New Hope, Alabama

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.

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