How many renters live in Eureka Springs, Arkansas?
The City of Eureka Springs has 2,053 people living in 933 households.
There are 747 renters living in 344 renter households in this City. Renters make up 36.39 percent of the population living in Eureka Springs.
What is the rental market like in Eureka Springs, Arkansas?
There are an estimated 1,307 housing units in the Eureka Springs area. Of these, 400 units are rental homes, making up 31 percent of the housing market. For every renter household in Eureka Springs, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Eureka Springs?
The rental vacancy rate in Eureka Springs 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 Eureka Springs for each bedroom size?
Occupied Rental Units by Size in Eureka Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 56 | 38 | 189 | 60 | 1 |
Occupied Rental Units by Size in Eureka Springs
A large number of apartments in Eureka Springs 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 Eureka Springs are overburdened by housing costs?
Among renter households in this market, 39 percent have housing cost burden. Further, 20 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 Eureka Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $565 to $1,111. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $565 |
| One BR | $657 |
| Two BR | $834 |
| Three BR | $1,008 |
| Four BR | $1,111 |
2024 Fair Market Rents in Eureka Springs, Arkansas
How many units are rented at Fair Market Rent (FMR) in Eureka Springs?
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 | 7 | 13 percent |
| One BR | 24 | 63 percent |
| Two BR | 80 | 42 percent |
Rental Units Below FMR in Eureka Springs, Arkansas
How many affordable rental units are in Eureka Springs?
There are a variety of federal affordable housing programs serving households in Eureka Springs, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 24 |
| Section 8 Project-Based Rental Assistance | 23 |
| USDA Section 515 Rural Rental Housing | 55 |
Tracked Units by Federal Program in Eureka Springs, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Eureka Springs, Arkansas
Eureka Springs features 25 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 Eureka Springs, Arkansas
There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Eureka Springs.
Housing Choice Vouchers in Eureka Springs, Arkansas
On average, Section 8 Housing Choice vouchers pay Eureka Springs landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Eureka Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Eureka Springs, Arkansas for a two-bedroom apartment is between $751 and $917.
Sourced from federal housing data and AffordableHousingOnline.com research.
