Affordable Housing In Green Forest
4 Low Income Apartment Communities In Green Forest
Guide To Affordable Housing in Green Forest, Arkansas
There are 4 low income housing apartment communities offering 165 affordable apartments for rent in Green Forest, Arkansas.
Income Based Apartments in Green Forest, Arkansas
Green Forest features 79 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 Green Forest, Arkansas
There are 86 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Green Forest.
Housing Choice Vouchers in Green Forest, Arkansas
On average, Section 8 Housing Choice vouchers pay Green Forest landlords $300 per month towards rent. The average voucher holder contributes $200 towards rent in Green Forest.
The maximum amount a voucher would pay on behalf of a low-income tenant in Green Forest, Arkansas for a two-bedroom apartment is between $600 and $734.
2022 Green Forest, 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|
|Green Forest, Arkansas Fair Market Rent||$443||$507||$667||$825||$905|
|Green Forest, Arkansas Payment Standard Range||$399 to $487||$456 to $558||$600 to $734||$743 to $908||$815 to $996|
Sourced from federal housing data and AffordableHousingOnline.com research.
Green Forest, AR Affordable Housing Snapshot
|Total Affordable Apartment Properties||4|
|Total Low Income Apartments||165|
|Total Housing Units with Rental Assistance||79|
|Percentage of Housing Units Occupied By Renters||44.1%|
|Average Renter Household Size||3.00|
|Average Household Size||2.80|
|Median Household Income||$37,981 ±$4,916|
|Median Rent||$584 ±$38|
|Percentage Of Renters Overburdened||32.95% ± 13.66pp|
Population and Household Demographics
Green Forest is a city in Carroll County, Arkansas with a population of 2,775. There are 991 households in the city with an average household size of 2.80 persons. 44.1% of households in Green Forest are renters.
Income and Rent Overburden in Green Forest
The median gross income for households in Green Forest is $37,981 a year, or $3,165 a month. The median rent for the city is $584 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Green Forest, a household making less than $1,947 a month would be considered overburdened when renting an apartment at or above the median rent. 32.95% of households who rent are overburdened in Green Forest.
Area Median Income In Green Forest
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 Green Forest, the AMI is calculated from all households within Carroll County.
In Green Forest, HUD calculates the Area Median Income for a family of four as $56,300
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 Green Forest
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 Green Forest
|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 Green Forest AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Green Forest AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Green Forest AMI may qualify for rental assistance programs that target Low Income households.