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

Discover affordable housing in Altus where there are 2+ 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.

Savannahpark of Altus

1222 Carbon Plant Rd, Altus, Arkansas 72821

Sunny Field Apartments

RR 1 Box 178, Altus, Arkansas 72821

auto_awesome Focus Results:
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
elderly Senior
payment Income Based
accessibility Accessible
accessible_forward Disability

How To Identify Affordable Housing in Altus, 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.
Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Altus, Arkansas
$4.42 (+40%) more than Arkansas minimum wage and $8.17 (+113%) more than the Federal minimum wage.
Learn More About Altus, Arkansas Affordable Housing ↓

What HUD offices serve Altus, Arkansas?

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) programs for Altus, Arkansas.

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

How many renters live in Altus, Arkansas?

The City of Altus has people living in households.

There are renters living in renter households in this City. Renters make up 25.89 percent of the population living in Altus.

What is the rental market like in Altus, Arkansas?

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

What is the vacancy rate for rentals in Altus?

The rental vacancy rate in Altus is 0 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 Altus for each bedroom size?

Occupied Rental Units by Size in Altus
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
2 28 57 24 0
Occupied Rental Units by Size in Altus

A large number of apartments in Altus 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 Altus

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $638 to $1,381. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $638
One BR $642
Two BR $814
Three BR $1,007
Four BR $1,381
2024 Fair Market Rents in Altus, Arkansas

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

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 1 50 percent
One BR 23 82 percent
Two BR 49 86 percent
Rental Units Below FMR in Altus, Arkansas

How many affordable rental units are in Altus?

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

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

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

Income Based Apartments in Altus, Arkansas

Altus features 22 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 Altus, Arkansas

There are 22 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Altus.

Housing Choice Vouchers in Altus, Arkansas

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Altus, Arkansas for a two-bedroom apartment is between $733 and $895.

Sourced from federal housing data and AffordableHousingOnline.com research.