Affordable Housing In Franklin County
9 Low Income Apartment Communities In Franklin County
Section 8 Vouchers, Apartments, and Waiting Lists in 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.
Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.
Public Housing Agencies Serving Franklin County, Arkansas
|Franklin County Public Housing Agency||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Franklin County, Arkansas
There are 9 low income housing apartment communities offering 237 affordable apartments for rent in Franklin County, Arkansas.
Income Based Apartments in Franklin County, Arkansas
Franklin County features 193 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 $584 and $714.
2022 Franklin County, 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|
|Franklin County, Arkansas Fair Market Rent||$505||$547||$649||$806||$1,015|
|Franklin County, Arkansas Payment Standard Range||$455 to $556||$492 to $602||$584 to $714||$725 to $887||$914 to $1,117|
Sourced from federal housing data and AffordableHousingOnline.com research.
Franklin County, AR Affordable Housing Snapshot
|Total Affordable Apartment Properties||9|
|Total Low Income Apartments||237|
|Total Housing Units with Rental Assistance||193|
|Percentage of Housing Units Occupied By Renters||28.98%|
|Average Renter Household Size||2.69|
|Average Household Size||2.58|
|Median Household Income||$39,285 ±$1,922|
|Median Rent||$584 ±$31|
|Percentage Of Renters Overburdened||38.61% ± 10.16pp|
Population and Household Demographics
Franklin County is a county in Arkansas with a population of 17,866. There are 6,784 households in the county with an average household size of 2.58 persons. 28.98% of households in Franklin County are renters.
Income and Rent Overburden in Franklin County
The median gross income for households in Franklin County is $39,285 a year, or $3,274 a month. The median rent for the county is $584 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Franklin County, a household making less than $1,947 a month would be considered overburdened when renting an apartment at or above the median rent. 38.61% of households who rent are overburdened in Franklin County.
Area Median Income In Franklin County
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.
In Franklin County, HUD calculates the Area Median Income for a family of four as $51,900
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 Franklin County
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 Franklin County
|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 Franklin County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Franklin County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Franklin County AMI may qualify for rental assistance programs that target Low Income households.
Cities In Franklin County
Select A City to View its Apartment Communities and Waiting Lists.
|Altus||The HUD funded Public Housing Agency that serves Altus is the Franklin County Public Housing Agency.|
|Branch||The HUD funded Public Housing Agency that serves Branch is the Franklin County Public Housing Agency.|
|Charleston||The HUD funded Public Housing Agency that serves Charleston is the Franklin County Public Housing Agency.|
|Denning||The HUD funded Public Housing Agency that serves Denning is the Franklin County Public Housing Agency.|
|Ozark||The HUD funded Public Housing Agencies that serve Ozark are the Ozark Housing Authority, Franklin County Public Housing Agency and Van Buren Housing Authority.|
|Wiederkehr Village||The HUD funded Public Housing Agency that serves Wiederkehr Village is the Franklin County Public Housing Agency.|