What HUD offices serve Booneville, 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.
Go to the Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Booneville.
How many renters live in Booneville, Arkansas?
The City of Booneville has people living in households.
There are renters living in renter households in this City. Renters make up 51.4 percent of the population living in Booneville.
What is the rental market like in Booneville, Arkansas?
There are an estimated housing units in the Booneville area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Booneville, Arkansas, there are 1.14 rental units.
What is the vacancy rate for rentals in Booneville?
The rental vacancy rate in Booneville is 9 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 Booneville for each bedroom size?
Occupied Rental Units by Size in Booneville
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 24 | 144 | 429 | 182 | 9 |
Occupied Rental Units by Size in Booneville
A large number of apartments in Booneville 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 Booneville
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $563 to $1,218. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $563 |
| One BR | $725 |
| Two BR | $814 |
| Three BR | $1,139 |
| Four BR | $1,218 |
2024 Fair Market Rents in Booneville, Arkansas
How many units are rented at Fair Market Rent (FMR) in Booneville?
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 | 24 | 100 percent |
| One BR | 110 | 76 percent |
| Two BR | 357 | 83 percent |
Rental Units Below FMR in Booneville, Arkansas
How many affordable rental units are in Booneville?
There are a variety of federal affordable housing programs serving households in Booneville, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Booneville, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Booneville, Arkansas
Booneville features 147 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 Booneville, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Booneville.
Housing Choice Vouchers in Booneville, Arkansas
On average, Section 8 Housing Choice vouchers pay Booneville landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Booneville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Booneville, Arkansas for a two-bedroom apartment is between $733 and $895.
Sourced from federal housing data and AffordableHousingOnline.com research.