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

Discover affordable housing in Franklin County where there are 9+ 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.

Savannah Park of Charleston I

401 N Vine St, Charleston, Arkansas 72933

Savannah Park of Charleston II

701 N Vine St, Charleston, Arkansas 72933

Savannahpark of Altus

1222 Carbon Plant Rd, Altus, Arkansas 72821

Gardenwalk of Ozarkiii

1951 W Commercial St, Ozark, Arkansas 72949

Ozark

310 N 6th St, Ozark, Arkansas 72949

Gardenwalk on Second

812 North 2nd, Ozark, Arkansas

Sagging Gate

10020 Highway 217, Charleston, Arkansas

Powell, Joe

6900 Powell Drive, Ozark, Arkansas

Sunny Field Apartments

RR 1 Box 178, Altus, Arkansas 72821

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 Franklin 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 Franklin County, Arkansas Affordable Housing ↓

What HUD offices serve Franklin 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 Franklin County, Arkansas.

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

How many renters live in Franklin County, Arkansas?

The County of Franklin County has 17,160 people living in 6,705 households.

There are 4,420 renters living in 1,765 renter households in this County. Renters make up 25.76 percent of the population living in Franklin County.

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

There are an estimated 7,750 housing units in the Franklin County area. Of these, 1,999 units are rental homes, making up 26 percent of the housing market. For every renter household in Franklin County, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Franklin County?

The rental vacancy rate in Franklin County is 12 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 Franklin County for each bedroom size?

Occupied Rental Units by Size in Franklin County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
38 186 860 576 93
Occupied Rental Units by Size in Franklin County

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

Among renter households in this market, 37 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 Much Is Rent in Franklin County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $638 to $1,381. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $638
One BR $642
Two BR $814
Three BR $1,007
Four BR $1,381
2024 Fair Market Rents in Franklin County, Arkansas

How many units are rented at Fair Market Rent (FMR) in Franklin 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 21 55 percent
One BR 143 77 percent
Two BR 659 77 percent
Rental Units Below FMR in Franklin County, Arkansas

How many affordable rental units are in Franklin County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 218
Public Housing 40
USDA Section 515 Rural Rental Housing 143
USDA Section 514 Farm Labor Housing 1
Tracked Units by Federal Program in Franklin County, Arkansas

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

Income Based Apartments in Franklin County, Arkansas

Franklin County features 183 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 Franklin County, Arkansas

There are 42 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin County.

Housing Choice Vouchers in Franklin County, Arkansas

On average, Section 8 Housing Choice vouchers pay Franklin County landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Franklin County.

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

Sourced from federal housing data and AffordableHousingOnline.com research.