Low Income Apartments and Affordable Housing For Rent in Madison, AR

Discover affordable housing in Madison where there are 2+ 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.

Madison Estates

106 S 5th, Madison, Arkansas 72359

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Whitaker Manor Apartments

119 Hadley Dr, Madison, Arkansas 72359

switch_access_shortcut Short Wait
payment Subsidized
accessibility Accessible

How To Identify Affordable Housing in Madison, Arkansas

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Madison, Arkansas
$4.78 (+43%) more than Arkansas minimum wage and $8.53 (+118%) more than the Federal minimum wage.
Learn More About Madison, Arkansas Affordable Housing ↓

What HUD offices serve Madison, 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.

Operates the Section 8 Housing Choice Voucher (HCV) programs for Madison, Arkansas.

Go to the Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Madison.

How many renters live in Madison, Arkansas?

The City of Madison has people living in households.

There are renters living in renter households in this City. Renters make up 47.97 percent of the population living in Madison.

What is the rental market like in Madison, Arkansas?

There are an estimated housing units in the Madison area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Madison, Arkansas, there are 1.18 rental units.

What is the vacancy rate for rentals in Madison?

The rental vacancy rate in Madison is 15 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Madison for each bedroom size?

Occupied Rental Units by Size in Madison
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 12 47 35 34
Occupied Rental Units by Size in Madison

A large number of apartments in Madison have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Madison

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $618 to $1,166. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $618
One BR $660
Two BR $833
Three BR $1,161
Four BR $1,166
2024 Fair Market Rents in Madison, Arkansas

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

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 12 100 percent
Two BR 12 26 percent
Rental Units Below FMR in Madison, Arkansas

How many affordable rental units are in Madison?

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

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Madison, Arkansas

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

Income Based Apartments in Madison, Arkansas

Madison features 75 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 Madison, Arkansas

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

Housing Choice Vouchers in Madison, Arkansas

On average, Section 8 Housing Choice vouchers pay Madison landlords $300 per month towards rent. The average voucher holder contributes $200 towards rent in Madison.

The maximum amount a voucher would pay on behalf of a low-income tenant in Madison, Arkansas for a two-bedroom apartment is between $750 and $916.

Sourced from federal housing data and AffordableHousingOnline.com research.