How many renters live in Cherry Valley, Arkansas?
The City of Cherry Valley has people living in households.
There are renters living in renter households in this City. Renters make up 32.5 percent of the population living in Cherry Valley.
What is the rental market like in Cherry Valley, Arkansas?
There are an estimated housing units in the Cherry Valley area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Cherry Valley, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Cherry Valley?
The rental vacancy rate in Cherry Valley 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 Cherry Valley for each bedroom size?
Occupied Rental Units by Size in Cherry Valley
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 15 | 43 | 0 |
Occupied Rental Units by Size in Cherry Valley
A large number of apartments in Cherry Valley 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 Cherry Valley
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $604 to $1,381. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $604 |
| One BR | $620 |
| Two BR | $814 |
| Three BR | $1,147 |
| Four BR | $1,381 |
2024 Fair Market Rents in Cherry Valley, Arkansas
How many units are rented at Fair Market Rent (FMR) in Cherry Valley?
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 |
| Two BR | 9 | 60 percent |
Rental Units Below FMR in Cherry Valley, Arkansas
How many affordable rental units are in Cherry Valley?
There are a variety of federal affordable housing programs serving households in Cherry Valley, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 202 Supportive Housing for the Elderly | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Cherry Valley, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Cherry Valley, Arkansas
Cherry Valley features 21 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 Cherry Valley, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cherry Valley.
Housing Choice Vouchers in Cherry Valley, Arkansas
On average, Section 8 Housing Choice vouchers pay Cherry Valley landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Cherry Valley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Cherry Valley, Arkansas for a two-bedroom apartment is between $733 and $895.
Sourced from federal housing data and AffordableHousingOnline.com research.