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

Discover affordable housing in Magazine 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.

Magazine Apartments

15 Carr St, Magazine, Arkansas 72943

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Magazine, 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 Magazine, Arkansas Affordable Housing ↓

What HUD offices serve Magazine, 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 Magazine, Arkansas.

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

How many renters live in Magazine, Arkansas?

The City of Magazine has 969 people living in 276 households.

There are 310 renters living in 85 renter households in this City. Renters make up 31.99 percent of the population living in Magazine.

What is the rental market like in Magazine, Arkansas?

There are an estimated 322 housing units in the Magazine area. Of these, 85 units are rental homes, making up 26 percent of the housing market. For every renter household in Magazine, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Magazine?

The rental vacancy rate in Magazine 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 Magazine for each bedroom size?

Occupied Rental Units by Size in Magazine
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 12 31 28 6
Occupied Rental Units by Size in Magazine

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

Among renter households in this market, 26 percent have housing cost burden. Further, 9 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 Magazine

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $563 to $1,218. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $563
One BR $725
Two BR $814
Three BR $1,139
Four BR $1,218
2024 Fair Market Rents in Magazine, Arkansas

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

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 21 68 percent
Rental Units Below FMR in Magazine, Arkansas

How many affordable rental units are in Magazine?

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

Federal Program Unit Count
Section 8 Project-Based Rental Assistance 10
Tracked Units by Federal Program in Magazine, Arkansas

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

Income Based Apartments in Magazine, Arkansas

Magazine features 10 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 Magazine, Arkansas

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

Housing Choice Vouchers in Magazine, Arkansas

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.