What HUD offices serve Cave City, 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 Cave City.
How many renters live in Cave City, Arkansas?
The City of Cave City has 2,038 people living in 790 households.
There are 837 renters living in 378 renter households in this City. Renters make up 41.07 percent of the population living in Cave City.
What is the rental market like in Cave City, Arkansas?
There are an estimated 945 housing units in the Cave City area. Of these, 425 units are rental homes, making up 45 percent of the housing market. For every renter household in Cave City, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Cave City?
The rental vacancy rate in Cave City is 10 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 Cave City for each bedroom size?
Occupied Rental Units by Size in Cave City
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 38 | 79 | 116 | 114 | 23 |
Occupied Rental Units by Size in Cave City
A large number of apartments in Cave City 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 Cave City are overburdened by housing costs?
Among renter households in this market, 37 percent have housing cost burden. Further, 11 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 Cave City
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $618 to $1,089. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $618 |
| One BR | $623 |
| Two BR | $818 |
| Three BR | $1,087 |
| Four BR | $1,089 |
2024 Fair Market Rents in Cave City, Arkansas
How many units are rented at Fair Market Rent (FMR) in Cave City?
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 | 38 | 100 percent |
| One BR | 71 | 90 percent |
| Two BR | 76 | 66 percent |
Rental Units Below FMR in Cave City, Arkansas
How many affordable rental units are in Cave City?
There are a variety of federal affordable housing programs serving households in Cave City, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 56 |
| Section 202 Supportive Housing for the Elderly | 16 |
| USDA Section 515 Rural Rental Housing | 20 |
Tracked Units by Federal Program in Cave City, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cave City, Arkansas
Cave City features 36 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 Cave City, Arkansas
There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cave City.
Housing Choice Vouchers in Cave City, Arkansas
On average, Section 8 Housing Choice vouchers pay Cave City landlords $300 per month towards rent. The average voucher holder contributes $200 towards rent in Cave City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cave City, Arkansas for a two-bedroom apartment is between $733 and $895.
Sourced from federal housing data and AffordableHousingOnline.com research.
