Low Income Apartments and Affordable Housing For Rent in Altheimer, AR

Discover affordable housing in Altheimer where there are 1+ 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.

Altheimer Apartments

213 S Division St, Altheimer, Arkansas 72004

bed 1-2

How To Identify Affordable Housing in Altheimer, Arkansas

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Altheimer, Arkansas
$6.16 (+56%) more than Arkansas minimum wage and $9.91 (+137%) more than the Federal minimum wage.
Learn More About Altheimer, Arkansas Affordable Housing ↓

How many renters live in Altheimer, Arkansas?

The City of Altheimer has 625 people living in 198 households.

There are 143 renters living in 46 renter households in this City. Renters make up 22.88 percent of the population living in Altheimer.

What is the rental market like in Altheimer, Arkansas?

There are an estimated 293 housing units in the Altheimer area. Of these, 52 units are rental homes, making up 18 percent of the housing market. For every renter household in Altheimer, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Altheimer?

The rental vacancy rate in Altheimer is 12 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 Altheimer for each bedroom size?

Occupied Rental Units by Size in Altheimer
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
5 11 17 6 7
Occupied Rental Units by Size in Altheimer

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

Among renter households in this market, 43 percent have housing cost burden. Further, 7 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 Altheimer

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $635 to $1,207. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $635
One BR $690
Two BR $906
Three BR $1,151
Four BR $1,207
2024 Fair Market Rents in Altheimer, Arkansas

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

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 5 100 percent
One BR 11 100 percent
Two BR 8 47 percent
Rental Units Below FMR in Altheimer, Arkansas

How many affordable rental units are in Altheimer?

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

Federal Program Unit Count
Low Income Housing Tax Credit 20
USDA Section 515 Rural Rental Housing 20
Tracked Units by Federal Program in Altheimer, Arkansas

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

Income Based Apartments in Altheimer, Arkansas

Altheimer features 20 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 Altheimer, Arkansas

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Altheimer.

Housing Choice Vouchers in Altheimer, Arkansas

On average, Section 8 Housing Choice vouchers pay Altheimer landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Altheimer.

The maximum amount a voucher would pay on behalf of a low-income tenant in Altheimer, Arkansas for a two-bedroom apartment is between $815 and $997.

Sourced from federal housing data and AffordableHousingOnline.com research.