How many renters live in Wadley, Alabama?
The City of Wadley has 950 people living in 248 households.
There are 255 renters living in 115 renter households in this City. Renters make up 26.84 percent of the population living in Wadley.
What is the rental market like in Wadley, Alabama?
There are an estimated 320 housing units in the Wadley area. Of these, 146 units are rental homes, making up 46 percent of the housing market. For every renter household in Wadley, Alabama, there are 1 rental units.
What is the vacancy rate for rentals in Wadley?
The rental vacancy rate in Wadley is 16 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 Wadley for each bedroom size?
Occupied Rental Units by Size in Wadley
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 26 | 25 | 35 | 17 | 8 |
Occupied Rental Units by Size in Wadley
A large number of apartments in Wadley 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 Wadley are overburdened by housing costs?
Among renter households in this market, 57 percent have housing cost burden. Further, 30 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 Wadley
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $642 to $1,283. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $642 |
| One BR | $763 |
| Two BR | $857 |
| Three BR | $1,208 |
| Four BR | $1,283 |
2024 Fair Market Rents in Wadley, Alabama
How many units are rented at Fair Market Rent (FMR) in Wadley?
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 | 26 | 100 percent |
| One BR | 22 | 88 percent |
| Two BR | 35 | 100 percent |
Rental Units Below FMR in Wadley, Alabama
How many affordable rental units are in Wadley?
There are a variety of federal affordable housing programs serving households in Wadley, Alabama including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 15 |
| Public Housing | 45 |
| USDA Section 515 Rural Rental Housing | 23 |
Tracked Units by Federal Program in Wadley, Alabama
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Wadley, Alabama
Wadley features 68 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 Wadley, Alabama
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wadley.
Housing Choice Vouchers in Wadley, Alabama
On average, Section 8 Housing Choice vouchers pay Wadley landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Wadley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wadley, Alabama for a two-bedroom apartment is between $771 and $943.
Sourced from federal housing data and AffordableHousingOnline.com research.
