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Affordable Housing In Hardy
Fulton County, Arkansas

3 Low Income Apartment Communities In Hardy

North Hills Terrace

203 E Clayton St
Hardy, Arkansas
Subsidized
62+
Accessible
Elderly Supportive Housing

Spring Woods ( Fka Hardy Senior Citizens )

100 Springwood Ter
Hardy, Arkansas
Accepts Vouchers

Spring River Apartments

710 E Main St
Hardy, Arkansas
Subsidized
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Housing Authorities that serve Hardy

Housing Authority Programs
White River Regional Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Hardy, Arkansas

There are 3 low income housing apartment communities offering 69 affordable apartments for rent in Hardy, Arkansas.

Income Based Apartments in Hardy, Arkansas

Hardy features 44 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 Hardy, Arkansas

There are 25 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hardy.

Housing Choice Vouchers in Hardy, Arkansas

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Hardy, Arkansas for a two-bedroom apartment is between $567 and $693.

2020 Hardy, 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
Fair Market Rent $459 $478 $630 $887 $978
Payment Standard Range $413 to $505 $430 to $526 $567 to $693 $798 to $976 $880 to $1,076

Sourced from federal housing data and AffordableHousingOnline.com research.

Hardy, AR Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 69
Total Housing Units with Rental Assistance 44
Percentage of Housing Units Occupied By Renters 49.87%
Average Renter Household Size 1.86
Average Household Size 1.89
Median Household Income $16,520 ±$2,695
Median Rent $416 ±$69
Percentage Of Renters Overburdened 76.22% ± 15.88pp
Total Population 702

Population and Household Demographics

Hardy is a city in Fulton County, Arkansas with a population of 702. There are 371 households in the city with an average household size of 1.89 persons. 49.87% of households in Hardy are renters.

Income and Rent Overburden in Hardy

The median gross income for households in Hardy is $16,520 a year, or $1,377 a month. The median rent for the city is $416 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hardy, a household making less than $1,387 a month would be considered overburdened when renting an apartment at or above the median rent. 76.22% of households who rent are overburdened in Hardy.

Area Median Income In Hardy

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 Hardy, the AMI is calculated from all households within Fulton County.

In Hardy, HUD calculates the Area Median Income for a family of four as $45,300

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 Hardy

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 Hardy

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,760 $17,240 $21,720 $26,200 $28,350 $30,450 $32,550 $34,650
50% of Median $18,400 $21,000 $23,650 $26,250 $28,350 $30,450 $32,550 $34,650
80% of Median $29,400 $33,600 $37,800 $42,000 $45,400 $48,750 $52,100 $55,450