Gassville, Arkansas Affordable Housing Data

Income Based Apartments in Gassville, Arkansas

Gassville features 139 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 Gassville, Arkansas

There are 150 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Gassville.

Housing Choice Vouchers in Gassville, Arkansas

On average, Section 8 Housing Choice vouchers pay Gassville landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Gassville.

The maximum amount a voucher would pay on behalf of a low-income tenant in Gassville, Arkansas for a two-bedroom apartment is between $715 and $873.

2023 Gassville, 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.

Sourced from federal housing data and AffordableHousingOnline.com research.

Gassville, AR Affordable Housing Snapshot

Total Affordable Apartment Properties	8
Total Low Income Apartments	289
Total Housing Units with Rental Assistance	139
Percentage of Housing Units Occupied By Renters	39.79%
Average Renter Household Size	2.73
Average Household Size	2.59
Median Household Income	$33,500 ±$7,902
Median Rent	$630 ±$54
Percentage Of Renters Overburdened	50.45% ± 14.12pp
Total Population	2,277

Population and Household Demographics

Gassville is a city in Baxter County, Arkansas with a population of 2,277. There are 842 households in the city with an average household size of 2.59 persons. 39.79% of households in Gassville are renters.

Income and Rent Overburden in Gassville

The median gross income for households in Gassville is $33,500 a year, or $2,792 a month. The median rent for the city is $630 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Gassville, a household making less than $2,100 a month would be considered overburdened when renting an apartment at or above the median rent. 50.45% of households who rent are overburdened in Gassville.

Area Median Income In Gassville

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.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Gassville, the AMI is calculated from all households within Baxter County.

In Gassville, HUD calculates the Area Median Income for a family of four as $60,400

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 Gassville

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 Gassville