What HUD offices serve Mineral Springs, 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.
Go to the Arkansas Public Housing and Low-Income Apartments Waiting Lists page for openings near Mineral Springs.
How many renters live in Mineral Springs, Arkansas?
The City of Mineral Springs has people living in households.
There are renters living in renter households in this City. Renters make up 31.37 percent of the population living in Mineral Springs.
What is the rental market like in Mineral Springs, Arkansas?
There are an estimated housing units in the Mineral Springs area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Mineral Springs, Arkansas, there are 1.15 rental units.
What is the vacancy rate for rentals in Mineral Springs?
The rental vacancy rate in Mineral Springs is 13 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 Mineral Springs for each bedroom size?
Occupied Rental Units by Size in Mineral Springs
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 3 | 83 | 87 | 13 |
Occupied Rental Units by Size in Mineral Springs
A large number of apartments in Mineral Springs 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 Mineral Springs
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $610 to $1,127. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $610 |
| One BR | $626 |
| Two BR | $823 |
| Three BR | $995 |
| Four BR | $1,127 |
2024 Fair Market Rents in Mineral Springs, Arkansas
How many units are rented at Fair Market Rent (FMR) in Mineral Springs?
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 | 3 | 100 percent |
| Two BR | 46 | 55 percent |
Rental Units Below FMR in Mineral Springs, Arkansas
How many affordable rental units are in Mineral Springs?
Income Based Apartments in Mineral Springs, Arkansas
Mineral Springs features 0 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 Mineral Springs, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mineral Springs.
Housing Choice Vouchers in Mineral Springs, Arkansas
On average, Section 8 Housing Choice vouchers pay Mineral Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Mineral Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Mineral Springs, Arkansas for a two-bedroom apartment is between $741 and $905.
Sourced from federal housing data and AffordableHousingOnline.com research.