Low Income Apartments and Affordable Housing For Rent in Hickory Ridge, AR

Discover affordable housing in Hickory Ridge where there are 1+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Hickory Ridge

427 N Front St, Hickory Ridge, Arkansas 72347

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Hickory Ridge, Arkansas
$15.42/hour
$4.42 (+40%) more than Arkansas minimum wage and $8.17 (+113%) more than the Federal minimum wage.
Learn More About Hickory Ridge, Arkansas Affordable Housing ↓

How many renters live in Hickory Ridge, Arkansas?

The City of Hickory Ridge has 267 people living in 102 households.

There are 86 renters living in 38 renter households in this City. Renters make up 32.21 percent of the population living in Hickory Ridge.

What is the rental market like in Hickory Ridge, Arkansas?

There are an estimated 119 housing units in the Hickory Ridge area. Of these, 38 units are rental homes, making up 32 percent of the housing market. For every renter household in Hickory Ridge, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Hickory Ridge?

The rental vacancy rate in Hickory Ridge is 0 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 Hickory Ridge for each bedroom size?

Occupied Rental Units by Size in Hickory Ridge
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 6 6 24 0
Occupied Rental Units by Size in Hickory Ridge

A large number of apartments in Hickory Ridge 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 Hickory Ridge are overburdened by housing costs?

Among renter households in this market, 50 percent have housing cost burden. Further, 3 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 Hickory Ridge

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $604 to $1,381. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $604
One BR $620
Two BR $814
Three BR $1,147
Four BR $1,381
2024 Fair Market Rents in Hickory Ridge, Arkansas

How many units are rented at Fair Market Rent (FMR) in Hickory Ridge?

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
One BR 6 100 percent
Two BR 5 83 percent
Rental Units Below FMR in Hickory Ridge, Arkansas

How many affordable rental units are in Hickory Ridge?

There are a variety of federal affordable housing programs serving households in Hickory Ridge, Arkansas including the following:

Federal Program Unit Count
Public Housing 16
Section 8 Project-Based Rental Assistance 1
Tracked Units by Federal Program in Hickory Ridge, Arkansas

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Hickory Ridge, Arkansas

Hickory Ridge features 16 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 Hickory Ridge, Arkansas

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hickory Ridge.

Housing Choice Vouchers in Hickory Ridge, Arkansas

On average, Section 8 Housing Choice vouchers pay Hickory Ridge landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Hickory Ridge.

The maximum amount a voucher would pay on behalf of a low-income tenant in Hickory Ridge, Arkansas for a two-bedroom apartment is between $733 and $895.

Sourced from federal housing data and AffordableHousingOnline.com research.