Affordable Housing In Cotter
Baxter County, Arkansas

2 Low Income Apartment Communities In Cotter

Walnut Lane Apartments

419 Walnut Hill Ln
Cotter, Arkansas
Call For Rent
1-2 BR

Cotter Senior Citizens Apartments

262 N Section Line Dr
Cotter, Arkansas
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Guide To Affordable Housing in Cotter, Arkansas

There are 2 low income housing apartment communities offering 40 affordable apartments for rent in Cotter, Arkansas.

Income Based Apartments in Cotter, Arkansas

Cotter features 24 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 Cotter, Arkansas

There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cotter.

Housing Choice Vouchers in Cotter, Arkansas

On average, Section 8 Housing Choice vouchers pay Cotter landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Cotter.

The maximum amount a voucher would pay on behalf of a low-income tenant in Cotter, Arkansas for a two-bedroom apartment is between $638 and $780.

2022 Cotter, Arkansas Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Cotter, Arkansas Fair Market Rent $525 $547 $709 $876 $978
Cotter, Arkansas Payment Standard Range $473 to $578 $492 to $602 $638 to $780 $788 to $964 $880 to $1,076

Sourced from federal housing data and research.

Cotter, AR Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 40
Total Housing Units with Rental Assistance 24
Percentage of Housing Units Occupied By Renters 36.1%
Average Renter Household Size 2.34
Average Household Size 2.27
Median Household Income $32,305 ±$2,849
Median Rent $481 ±$83
Percentage Of Renters Overburdened 40.79% ± 18.55pp
Total Population 954

Population and Household Demographics

Cotter is a city in Baxter County, Arkansas with a population of 954. There are 421 households in the city with an average household size of 2.27 persons. 36.1% of households in Cotter are renters.

Income and Rent Overburden in Cotter

The median gross income for households in Cotter is $32,305 a year, or $2,692 a month. The median rent for the city is $481 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Cotter, a household making less than $1,603 a month would be considered overburdened when renting an apartment at or above the median rent. 40.79% of households who rent are overburdened in Cotter.

Area Median Income In Cotter

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Cotter, the AMI is calculated from all households within Baxter County.

In Cotter, HUD calculates the Area Median Income for a family of four as $52,600

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Cotter

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for HUD Rental Assistance in Cotter

1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% AMI Income Limits
Renters earning up to 30% of the Cotter AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $29,250 $31,400 $33,550 $35,750
50% AMI Income Limits
Renters earning up to 50% of the Cotter AMI may qualify for rental assistance programs that target Very Low Income households.
$18,950 $21,650 $24,350 $27,050 $29,250 $31,400 $33,550 $35,750
80% AMI Income Limits
Renters earning up to 80% of the Cotter AMI may qualify for rental assistance programs that target Low Income households.
$30,350 $34,650 $39,000 $43,300 $46,800 $50,250 $53,700 $57,200