How many renters live in Arkansas?
The State of Arkansas has 41,801 people living in 19,021 households.
There are 10,702 renters living in 4,879 renter households in this State. Renters make up 25.6 percent of the population living in Arkansas.
What is the rental market like in Arkansas?
There are an estimated 22,747 housing units in the Arkansas area. Of these, 5,200 units are rental homes, making up 23 percent of the housing market. For every renter household in Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Arkansas?
The rental vacancy rate in Arkansas is 4 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 Arkansas for each bedroom size?
Occupied Rental Units by Size in Arkansas
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 182 | 670 | 2,338 | 1,482 | 183 |
Occupied Rental Units by Size in Arkansas
A large number of apartments in Arkansas 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 Arkansas are overburdened by housing costs?
Among renter households in this market, 38 percent have housing cost burden. Further, 16 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 many units are rented at Fair Market Rent (FMR) in Arkansas?
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 | 59 | 32 percent |
| One BR | 377 | 56 percent |
| Two BR | 1,456 | 62 percent |
Rental Units Below FMR in Arkansas
How many affordable rental units are in Arkansas?
There are a variety of federal affordable housing programs serving households in Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 581 |
| Section 8 Project-Based Rental Assistance | 50 |
| Section 202 Supportive Housing for the Elderly | 25 |
| USDA Section 515 Rural Rental Housing | 220 |
Tracked Units by Federal Program in Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Arkansas
Arkansas features 35,073 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 Arkansas
There are 20,034 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Arkansas.
Housing Choice Vouchers in Arkansas
On average, Section 8 Housing Choice vouchers pay Arkansas landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Arkansas.
The maximum amount a voucher would pay on behalf of a low-income tenant in Arkansas for a two-bedroom apartment is between $802 and $980.
Sourced from federal housing data and AffordableHousingOnline.com research.
