How many renters live in Diamond City, Arkansas?
The City of Diamond City has 888 people living in 357 households.
There are 162 renters living in 87 renter households in this City. Renters make up 18.24 percent of the population living in Diamond City.
What is the rental market like in Diamond City, Arkansas?
There are an estimated 508 housing units in the Diamond City area. Of these, 105 units are rental homes, making up 21 percent of the housing market. For every renter household in Diamond City, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Diamond City?
The rental vacancy rate in Diamond City is 17 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 Diamond City for each bedroom size?
Occupied Rental Units by Size in Diamond City
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 17 | 60 | 10 | 0 |
Occupied Rental Units by Size in Diamond City
A large number of apartments in Diamond City 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 Diamond City are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 7 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 Diamond City
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $552 to $1,251. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $552 |
| One BR | $647 |
| Two BR | $814 |
| Three BR | $1,147 |
| Four BR | $1,251 |
2024 Fair Market Rents in Diamond City, Arkansas
How many units are rented at Fair Market Rent (FMR) in Diamond City?
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 |
| One BR | 17 | 100 percent |
| Two BR | 30 | 50 percent |
Rental Units Below FMR in Diamond City, Arkansas
How many affordable rental units are in Diamond City?
There are a variety of federal affordable housing programs serving households in Diamond City, Arkansas including the following:
| Federal Program | Unit Count |
| Section 202 Supportive Housing for the Elderly | 13 |
Tracked Units by Federal Program in Diamond City, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Diamond City, Arkansas
Diamond City features 14 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 Diamond City, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Diamond City.
Housing Choice Vouchers in Diamond City, Arkansas
On average, Section 8 Housing Choice vouchers pay Diamond City landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Diamond City.
The maximum amount a voucher would pay on behalf of a low-income tenant in Diamond City, Arkansas for a two-bedroom apartment is between $733 and $895.
Sourced from federal housing data and AffordableHousingOnline.com research.
