What HUD offices serve Colt, 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 Colt.
How many renters live in Colt, Arkansas?
The City of Colt has people living in households.
There are renters living in renter households in this City. Renters make up 61.92 percent of the population living in Colt.
What is the rental market like in Colt, Arkansas?
There are an estimated housing units in the Colt area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Colt, Arkansas, there are 1.02 rental units.
What is the vacancy rate for rentals in Colt?
The rental vacancy rate in Colt is 2 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 Colt for each bedroom size?
Occupied Rental Units by Size in Colt
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 25 | 21 | 26 | 53 | 4 |
Occupied Rental Units by Size in Colt
A large number of apartments in Colt 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 Colt
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $618 to $1,166. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $618 |
| One BR | $660 |
| Two BR | $833 |
| Three BR | $1,161 |
| Four BR | $1,166 |
2024 Fair Market Rents in Colt, Arkansas
How many units are rented at Fair Market Rent (FMR) in Colt?
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 | 25 | 100 percent |
| One BR | 21 | 100 percent |
| Two BR | 14 | 54 percent |
Rental Units Below FMR in Colt, Arkansas
How many affordable rental units are in Colt?
There are a variety of federal affordable housing programs serving households in Colt, 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 Colt, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Colt, Arkansas
Colt 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 Colt, Arkansas
There are 25 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Colt.
Housing Choice Vouchers in Colt, Arkansas
On average, Section 8 Housing Choice vouchers pay Colt landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Colt.
The maximum amount a voucher would pay on behalf of a low-income tenant in Colt, Arkansas for a two-bedroom apartment is between $750 and $916.
Sourced from federal housing data and AffordableHousingOnline.com research.