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

Discover affordable housing in Troy where there are 15+ 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.

Skyview Apartments

104 Park St, Troy, Alabama 36081

Gibbs Manor

200 Gibbs St, Troy, Alabama 36081

Woodland Hills Apartments

100 Woodland Hills Dr, Troy, Alabama 36081

Amberwood Apartments

115 Segar Lane, Troy, Alabama 36081

Foxcroft Apartments

660 Henderson Dr, Troy, Alabama 36081

Troy Manor Apartments

200 Bruce St, Troy, Alabama 36081

Level Line Apts

500 Level Line Apts, Troy, Alabama 36081

Veranda Apartments

151 W Pike St, Troy, Alabama 36081

Autumn Ridge Apartments

431 N Knox St, Troy, Alabama 36081

Charleston Square

150 W Pike St, Troy, Alabama 36081

Troy Apartments, Phase III

600 Botts Ave, Troy, Alabama 36081

Segars Community

201 Segars St, Troy, Alabama 36081

Knox Murphree

214 N Knox St, Troy, Alabama 36081

Hubbard Dunbar

516 Hubbard St, Troy, Alabama 36081


101 Spring Rd, Troy, Alabama 36079

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Troy, Alabama
$13.62 (+188%) more than Alabama minimum wage and $13.62 (+188%) more than the Federal minimum wage.
Learn More About Troy, Alabama Affordable Housing ↓

What HUD offices serve Troy, 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 Troy, Alabama.

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

How many renters live in Troy, Alabama?

The City of Troy has 17,757 people living in 6,159 households.

There are 7,588 renters living in 3,160 renter households in this City. Renters make up 42.73 percent of the population living in Troy.

What is the rental market like in Troy, Alabama?

There are an estimated 8,002 housing units in the Troy area. Of these, 4,187 units are rental homes, making up 52 percent of the housing market. For every renter household in Troy, Alabama, there are 1 rental units.

What is the vacancy rate for rentals in Troy?

The rental vacancy rate in Troy is 21 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 Troy for each bedroom size?

Occupied Rental Units by Size in Troy
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
45 555 1,148 1,119 293
Occupied Rental Units by Size in Troy

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

Among renter households in this market, 54 percent have housing cost burden. Further, 33 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 Troy

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $825 to $1,468. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $825
One BR $839
Two BR $1,102
Three BR $1,332
Four BR $1,468
2024 Fair Market Rents in Troy, Alabama

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

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 28 62 percent
One BR 555 100 percent
Two BR 678 59 percent
Rental Units Below FMR in Troy, Alabama

How many affordable rental units are in Troy?

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

Federal Program Unit Count
Low Income Housing Tax Credit 425
Section 8 Project-Based Rental Assistance 398
Section 202 Supportive Housing for the Elderly 1
USDA Section 515 Rural Rental Housing 229
Tracked Units by Federal Program in Troy, Alabama

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

Income Based Apartments in Troy, Alabama

Troy features 836 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 Troy, Alabama

There are 236 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Troy.

Housing Choice Vouchers in Troy, Alabama

On average, Section 8 Housing Choice vouchers pay Troy landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Troy.

The maximum amount a voucher would pay on behalf of a low-income tenant in Troy, Alabama for a two-bedroom apartment is between $992 and $1,212.

Sourced from federal housing data and AffordableHousingOnline.com research.