Affordable Housing In Arkansas County
12 Low Income Apartment Communities In Arkansas County
Guide To Affordable Housing in Arkansas County, Arkansas
There are 12 low income housing apartment communities offering 586 affordable apartments for rent in Arkansas County, Arkansas.
Income Based Apartments in Arkansas County, Arkansas
Arkansas County features 354 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 Arkansas County, Arkansas
There are 232 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Arkansas County.
Housing Choice Vouchers in Arkansas County, Arkansas
On average, Section 8 Housing Choice vouchers pay Arkansas County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Arkansas County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Arkansas County, Arkansas for a two-bedroom apartment is between $625 and $763.
2022 Arkansas County, Arkansas Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Arkansas County, Arkansas Fair Market Rent||$514||$527||$694||$858||$941|
|Arkansas County, Arkansas Payment Standard Range||$463 to $565||$474 to $580||$625 to $763||$772 to $944||$847 to $1,035|
Sourced from federal housing data and AffordableHousingOnline.com research.
Arkansas County, AR Affordable Housing Snapshot
|Total Affordable Apartment Properties||12|
|Total Low Income Apartments||586|
|Total Housing Units with Rental Assistance||354|
|Percentage of Housing Units Occupied By Renters||33.28%|
|Average Renter Household Size||2.43|
|Average Household Size||2.39|
|Median Household Income||$36,411 ±$2,766|
|Median Rent||$622 ±$39|
|Percentage Of Renters Overburdened||36.63% ± 6.29pp|
Population and Household Demographics
Arkansas County is a county in Arkansas with a population of 18,731. There are 7,743 households in the county with an average household size of 2.39 persons. 33.28% of households in Arkansas County are renters.
Income and Rent Overburden in Arkansas County
The median gross income for households in Arkansas County is $36,411 a year, or $3,034 a month. The median rent for the county is $622 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Arkansas County, a household making less than $2,073 a month would be considered overburdened when renting an apartment at or above the median rent. 36.63% of households who rent are overburdened in Arkansas County.
Area Median Income In Arkansas County
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
In Arkansas County, HUD calculates the Area Median Income for a family of four as $54,400
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Arkansas County
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Arkansas County
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Arkansas County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Arkansas County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Arkansas County AMI may qualify for rental assistance programs that target Low Income households.