. Low Income Apartments For Rent in Magazine, Arkansas - Affordable Housing Online

Magazine Apartments

15 Carr St
Magazine, Arkansas
Showing Results 1-15
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There are 0 low-income apartments in Magazine that offer reduced rents to eligible households.

Rental assistance programs support 10 low-income homes in Magazine where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $-4 towards rent each month.

Affordable rent data for some communities last confirmed on October 30th, 2019. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving 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.

Housing Authority Programs
Logan County Housing Authority Section 8 Housing Choice Voucher (HCV)
Go to the Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Magazine.

Magazine, Arkansas Affordable Housing Data

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 $648 and $792.

2023 Magazine, 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
Magazine, Arkansas Fair Market Rent $507 $637 $720 $996 $1,016
Magazine, Arkansas Payment Standard Range $456 to $558 $573 to $701 $648 to $792 $896 to $1,096 $914 to $1,118

Sourced from federal housing data and AffordableHousingOnline.com research.

Magazine, AR Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 10
Total Housing Units with Rental Assistance 10
Percentage of Housing Units Occupied By Renters 34.18%
Average Renter Household Size 2.70
Average Household Size 2.61
Median Household Income $36,875 ±$8,891
Median Rent $526 ±$46
Percentage Of Renters Overburdened 33.06% ± 27.04pp
Total Population 925

Population and Household Demographics

Magazine is a city in Logan County, Arkansas with a population of 925. There are 354 households in the city with an average household size of 2.61 persons. 34.18% of households in Magazine are renters.

Income and Rent Overburden in Magazine

The median gross income for households in Magazine is $36,875 a year, or $3,073 a month. The median rent for the city is $526 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Magazine, a household making less than $1,753 a month would be considered overburdened when renting an apartment at or above the median rent. 33.06% of households who rent are overburdened in Magazine.

Area Median Income In Magazine

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 Magazine, the AMI is calculated from all households within Logan County.

In Magazine, HUD calculates the Area Median Income for a family of four as $61,900

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 Magazine

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 Magazine

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 Magazine AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,580 $19,720 $24,860 $30,000 $34,250 $36,800 $39,350 $41,850
50% AMI Income Limits
Renters earning up to 50% of the Magazine AMI may qualify for rental assistance programs that target Very Low Income households.
$22,200 $25,400 $28,550 $31,700 $34,250 $36,800 $39,350 $41,850
80% AMI Income Limits
Renters earning up to 80% of the Magazine AMI may qualify for rental assistance programs that target Low Income households.
$35,500 $40,600 $45,650 $50,700 $54,800 $58,850 $62,900 $66,950