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

Discover affordable housing in Chicot County where there are 13+ 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.

Cypress Grove Homes of Lake Village

188 Cypress Street, Lake Village, Arkansas 71653

Chicot Apartments

604 E Compress St, Eudora, Arkansas 71640

Eudora Manor

2070 S Highway 65, Eudora, Arkansas 71640

Chicot Lake Village Apartments

540 Mulberry St, Lake Village, Arkansas 71653

Old Lakeshore Apartments

201 N Lakeshore Dr, Lake Village, Arkansas 71653

Chicot Lake Apartments

920 Mulberry St, Lake Village, Arkansas 71653

Lakeside Apartments

628 Mulberry St, Lake Village, Arkansas 71653

Mulberry Manor Apartments

707 Mulberry St, Lake Village, Arkansas 71653

Eudora Terrace

234 Lynn St, Eudora, Arkansas 71640

Dermott Terrace

208 W Ash St, Dermott, Arkansas 71638

Eudora Terrace

290 Lynn St, Eudora, Arkansas 71640

Belview Place Apartments

201 E Hickory St, Dermott, Arkansas 71638

Country Place Apt

820 Mulberry Street, Lake Village, Arkansas

Open Until Further Notice

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Chicot 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 Chicot County, Arkansas Affordable Housing ↓

What HUD offices serve Chicot County, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Chicot County, Arkansas.

Go to the Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Chicot County.

How many renters live in Chicot County, Arkansas?

The County of Chicot County has 10,234 people living in 4,008 households.

There are 3,504 renters living in 1,285 renter households in this County. Renters make up 34.24 percent of the population living in Chicot County.

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

There are an estimated 5,131 housing units in the Chicot County area. Of these, 1,399 units are rental homes, making up 27 percent of the housing market. For every renter household in Chicot County, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Chicot County?

The rental vacancy rate in Chicot County is 8 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 Chicot County for each bedroom size?

Occupied Rental Units by Size in Chicot County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
43 149 333 636 120
Occupied Rental Units by Size in Chicot County

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

Among renter households in this market, 35 percent have housing cost burden. Further, 20 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 Chicot County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $604 to $1,376. 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 $1,089
Four BR $1,376
2024 Fair Market Rents in Chicot County, Arkansas

How many units are rented at Fair Market Rent (FMR) in Chicot 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 35 81 percent
One BR 130 87 percent
Two BR 201 60 percent
Rental Units Below FMR in Chicot County, Arkansas

How many affordable rental units are in Chicot County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 440
Section 8 Project-Based Rental Assistance 141
USDA Section 515 Rural Rental Housing 323
Tracked Units by Federal Program in Chicot County, Arkansas

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

Income Based Apartments in Chicot County, Arkansas

Chicot County features 483 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 Chicot County, Arkansas

There are 37 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Chicot County.

Housing Choice Vouchers in Chicot County, Arkansas

On average, Section 8 Housing Choice vouchers pay Chicot County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Chicot County.

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

Sourced from federal housing data and AffordableHousingOnline.com research.