How many renters live in Snead, Alabama?
The City of Snead has 1,227 people living in 502 households.
There are 210 renters living in 130 renter households in this City. Renters make up 17.11 percent of the population living in Snead.
What is the rental market like in Snead, Alabama?
There are an estimated 574 housing units in the Snead area. Of these, 142 units are rental homes, making up 25 percent of the housing market. For every renter household in Snead, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Snead?
The rental vacancy rate in Snead is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Snead for each bedroom size?
Occupied Rental Units by Size in Snead
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 40 | 70 | 20 | 0 |
Occupied Rental Units by Size in Snead
A large number of apartments in Snead 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 Snead are overburdened by housing costs?
Among renter households in this market, 16 percent have housing cost burden. Further, 2 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 Snead
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 Snead, Alabama
How many units are rented at Fair Market Rent (FMR) in Snead?
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 | 40 | 100 percent |
| Two BR | 40 | 57 percent |
Rental Units Below FMR in Snead, Alabama
How many affordable rental units are in Snead?
There are a variety of federal affordable housing programs serving households in Snead, Alabama including the following:
| Federal Program | Unit Count |
| Public Housing | 24 |
Tracked Units by Federal Program in Snead, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Snead, Alabama
Snead 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 Snead, Alabama
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Snead.
Housing Choice Vouchers in Snead, Alabama
On average, Section 8 Housing Choice vouchers pay Snead landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Snead.
The maximum amount a voucher would pay on behalf of a low-income tenant in Snead, Alabama for a two-bedroom apartment is between $1,121 and $1,370.
Sourced from federal housing data and AffordableHousingOnline.com research.
