Affordable Housing In Lepanto
Poinsett County, Arkansas

4 Low Income Apartment Communities In Lepanto

Stevens Square

100 Stevens Sq
Lepanto, Arkansas
Subsidized

John a Jennings,Jr

103 Dianna Street
Lepanto, Arkansas

John a Jennings, Jr

9778 H Tyler Rd
Lepanto, Arkansas

John a Jennings, Jr

9772 H Tyler Rd
Lepanto, Arkansas
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Section 8 Vouchers, Apartments, and Waiting Lists in Lepanto, 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 Lepanto, Arkansas

Housing Authority Programs
Poinsett County Housing Authority Public Housing
Poinsett County Housing Agency Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Lepanto, Arkansas

There are 4 low income housing apartment communities offering 49 affordable apartments for rent in Lepanto, Arkansas.

Income Based Apartments in Lepanto, Arkansas

Lepanto features 46 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 Lepanto, Arkansas

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

Housing Choice Vouchers in Lepanto, Arkansas

On average, Section 8 Housing Choice vouchers pay Lepanto landlords $300 per month towards rent. The average voucher holder contributes $400 towards rent in Lepanto.

The maximum amount a voucher would pay on behalf of a low-income tenant in Lepanto, Arkansas for a two-bedroom apartment is between $584 and $714.

2022 Lepanto, 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
Lepanto, Arkansas Fair Market Rent $490 $493 $649 $802 $894
Lepanto, Arkansas Payment Standard Range $441 to $539 $444 to $542 $584 to $714 $722 to $882 $805 to $983

Sourced from federal housing data and AffordableHousingOnline.com research.

Lepanto, AR Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 49
Total Housing Units with Rental Assistance 46
Percentage of Housing Units Occupied By Renters 49.22%
Average Renter Household Size 2.50
Average Household Size 2.77
Median Household Income $24,550 ±$5,420
Median Rent $517 ±$50
Percentage Of Renters Overburdened 53.45% ± 13.33pp
Total Population 1,955

Population and Household Demographics

Lepanto is a city in Poinsett County, Arkansas with a population of 1,955. There are 707 households in the city with an average household size of 2.77 persons. 49.22% of households in Lepanto are renters.

Income and Rent Overburden in Lepanto

The median gross income for households in Lepanto is $24,550 a year, or $2,046 a month. The median rent for the city is $517 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lepanto, a household making less than $1,723 a month would be considered overburdened when renting an apartment at or above the median rent. 53.45% of households who rent are overburdened in Lepanto.

Area Median Income In Lepanto

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 Lepanto, the AMI is calculated from all households within Poinsett County.

In Lepanto, HUD calculates the Area Median Income for a family of four as $47,000

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 Lepanto

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 Lepanto

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 Lepanto AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $29,250 $31,400 $33,550 $35,750
50% AMI Income Limits
Renters earning up to 50% of the Lepanto AMI may qualify for rental assistance programs that target Very Low Income households.
$18,950 $21,650 $24,350 $27,050 $29,250 $31,400 $33,550 $35,750
80% AMI Income Limits
Renters earning up to 80% of the Lepanto AMI may qualify for rental assistance programs that target Low Income households.
$30,350 $34,650 $39,000 $43,300 $46,800 $50,250 $53,700 $57,200