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

Discover affordable housing in Malvern where there are 9+ 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.

River Park Apartments

1750 W Moline St, Malvern, Arkansas 72104

Reach Out II Apartments

2605 Canine Rd, Malvern, Arkansas 72104

Malvern Manor Apartments

718 Sulphur Springs Rd, Malvern, Arkansas 72104

Birch Leaf Apartments

343 Babcock St, Malvern, Arkansas 72104

Marla Square Apartments II

825 Sulphur Springs Rd, Malvern, Arkansas 72104

Garland Street Apartments

615 Garland St, Malvern, Arkansas 72104

On Our Own IV

1401 Owen St, Malvern, Arkansas 72104

Gates Manor Apartments

301 Burger St., Malvern, Arkansas

Gloster Court

1701 Bailey Pl, Malvern, Arkansas 72104

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

What HUD offices serve Malvern, 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), Public Housing programs for Malvern, Arkansas.

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

How many renters live in Malvern, Arkansas?

The City of Malvern has 10,859 people living in 3,421 households.

There are 3,783 renters living in 1,466 renter households in this City. Renters make up 34.84 percent of the population living in Malvern.

What is the rental market like in Malvern, Arkansas?

There are an estimated 4,030 housing units in the Malvern area. Of these, 1,617 units are rental homes, making up 40 percent of the housing market. For every renter household in Malvern, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Malvern?

The rental vacancy rate in Malvern is 8 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 Malvern for each bedroom size?

Occupied Rental Units by Size in Malvern
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
184 182 617 385 98
Occupied Rental Units by Size in Malvern

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

Among renter households in this market, 32 percent have housing cost burden. Further, 13 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 Malvern

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $603 to $1,310. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $603
One BR $620
Two BR $814
Three BR $1,090
Four BR $1,310
2024 Fair Market Rents in Malvern, Arkansas

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

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
Studio 90 49 percent
One BR 145 80 percent
Two BR 452 73 percent
Rental Units Below FMR in Malvern, Arkansas

How many affordable rental units are in Malvern?

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

Federal Program Unit Count
Low Income Housing Tax Credit 90
Public Housing 169
Section 8 Project-Based Rental Assistance 20
Section 202 Supportive Housing for the Elderly 20
Section 811 Supportive Housing for Persons with Disabilities 53
USDA Section 515 Rural Rental Housing 93
Tracked Units by Federal Program in Malvern, Arkansas

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

Income Based Apartments in Malvern, Arkansas

Malvern features 326 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 Malvern, Arkansas

There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Malvern.

Housing Choice Vouchers in Malvern, Arkansas

On average, Section 8 Housing Choice vouchers pay Malvern landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Malvern.

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

Sourced from federal housing data and AffordableHousingOnline.com research.