How many renters live in Red Level, Alabama?
The City of Red Level has 476 people living in 159 households.
There are 115 renters living in 38 renter households in this City. Renters make up 24.16 percent of the population living in Red Level.
What is the rental market like in Red Level, Alabama?
There are an estimated 204 housing units in the Red Level area. Of these, 40 units are rental homes, making up 20 percent of the housing market. For every renter household in Red Level, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Red Level?
The rental vacancy rate in Red Level 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 Red Level for each bedroom size?
Occupied Rental Units by Size in Red Level
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 10 | 3 | 23 | 2 |
Occupied Rental Units by Size in Red Level
A large number of apartments in Red Level 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 Red Level are overburdened by housing costs?
Among renter households in this market, 34 percent have housing cost burden. Further, 13 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 Red Level
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $648 to $1,427. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $648 |
| One BR | $652 |
| Two BR | $857 |
| Three BR | $1,133 |
| Four BR | $1,427 |
2024 Fair Market Rents in Red Level, Alabama
How many units are rented at Fair Market Rent (FMR) in Red Level?
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 | 7 | 70 percent |
| Two BR | 3 | 100 percent |
Rental Units Below FMR in Red Level, Alabama
How many affordable rental units are in Red Level?
There are a variety of federal affordable housing programs serving households in Red Level, Alabama including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 8 |
Tracked Units by Federal Program in Red Level, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Red Level, Alabama
Red Level features 8 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 Red Level, Alabama
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Red Level.
Housing Choice Vouchers in Red Level, Alabama
On average, Section 8 Housing Choice vouchers pay Red Level landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Red Level.
The maximum amount a voucher would pay on behalf of a low-income tenant in Red Level, Alabama for a two-bedroom apartment is between $771 and $943.
Sourced from federal housing data and AffordableHousingOnline.com research.
