How many renters live in Rio Rico, Arizona?
The City of Rio Rico has people living in households.
There are renters living in renter households in this City. Renters make up 18.66 percent of the population living in Rio Rico.
What is the rental market like in Rio Rico, Arizona?
There are an estimated housing units in the Rio Rico area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Rio Rico, Arizona, there are 1.01 rental units.
What is the vacancy rate for rentals in Rio Rico?
The rental vacancy rate in Rio Rico is 1 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 Rio Rico for each bedroom size?
Occupied Rental Units by Size in Rio Rico
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 22 | 44 | 482 | 614 | 73 |
Occupied Rental Units by Size in Rio Rico
A large number of apartments in Rio Rico 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 Rio Rico
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $693 to $1,472. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $693 |
| One BR | $778 |
| Two BR | $1,022 |
| Three BR | $1,440 |
| Four BR | $1,472 |
2024 Fair Market Rents in Rio Rico, Arizona
How many units are rented at Fair Market Rent (FMR) in Rio Rico?
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 | 17 | 77 percent |
| One BR | 26 | 59 percent |
| Two BR | 363 | 75 percent |
Rental Units Below FMR in Rio Rico, Arizona
How many affordable rental units are in Rio Rico?
There are a variety of federal affordable housing programs serving households in Rio Rico, Arizona including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit |
Tracked Units by Federal Program in Rio Rico, Arizona
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Rio Rico, Arizona
Rio Rico 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 Rio Rico, Arizona
There are 61 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rio Rico.
Housing Choice Vouchers in Rio Rico, Arizona
On average, Section 8 Housing Choice vouchers pay Rio Rico landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Rio Rico.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rio Rico, Arizona for a two-bedroom apartment is between $920 and $1,124.
Sourced from federal housing data and AffordableHousingOnline.com research.