Low Income Apartments and Affordable Housing For Rent in Boone County, AR

Discover affordable housing in Boone County where there are 17+ 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.

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Boone County, Arkansas
$15.42/hour
$4.42 (+40%) more than Arkansas minimum wage and $8.17 (+113%) more than the Federal minimum wage.
Learn More About Boone County, Arkansas Affordable Housing ↓

How many renters live in Boone County, Arkansas?

The County of Boone County has 37,662 people living in 15,172 households.

There are 10,011 renters living in 4,532 renter households in this County. Renters make up 26.58 percent of the population living in Boone County.

What is the rental market like in Boone County, Arkansas?

There are an estimated 17,354 housing units in the Boone County area. Of these, 4,822 units are rental homes, making up 28 percent of the housing market. For every renter household in Boone County, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Boone County?

The rental vacancy rate in Boone County is 5 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 Boone County for each bedroom size?

Occupied Rental Units by Size in Boone County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
179 870 1,741 1,357 217
Occupied Rental Units by Size in Boone County

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

Among renter households in this market, 32 percent have housing cost burden. Further, 13 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 Boone County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $552 to $1,251. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $552
One BR $647
Two BR $814
Three BR $1,147
Four BR $1,251
2024 Fair Market Rents in Boone County, Arkansas

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

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 179 100 percent
One BR 598 69 percent
Two BR 1,278 73 percent
Rental Units Below FMR in Boone County, Arkansas

How many affordable rental units are in Boone County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 443
Section 8 Project-Based Rental Assistance 127
Section 202 Supportive Housing for the Elderly 28
Section 811 Supportive Housing for Persons with Disabilities 9
USDA Section 515 Rural Rental Housing 179
Tracked Units by Federal Program in Boone County, Arkansas

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

Income Based Apartments in Boone County, Arkansas

Boone County features 243 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 Boone County, Arkansas

There are 136 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Boone County.

Housing Choice Vouchers in Boone County, Arkansas

On average, Section 8 Housing Choice vouchers pay Boone County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Boone County.

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

Sourced from federal housing data and AffordableHousingOnline.com research.