How many renters live in Monroe County, Arkansas?
The County of Monroe County has 6,787 people living in 2,826 households.
There are 2,427 renters living in 1,030 renter households in this County. Renters make up 35.76 percent of the population living in Monroe County.
What is the rental market like in Monroe County, Arkansas?
There are an estimated 3,864 housing units in the Monroe County area. Of these, 1,119 units are rental homes, making up 29 percent of the housing market. For every renter household in Monroe County, Arkansas, there are 1 rental units.
What is the vacancy rate for rentals in Monroe County?
The rental vacancy rate in Monroe County 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 Monroe County for each bedroom size?
Occupied Rental Units by Size in Monroe County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 16 | 299 | 303 | 357 | 30 |
Occupied Rental Units by Size in Monroe County
A large number of apartments in Monroe County 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 Monroe County are overburdened by housing costs?
Among renter households in this market, 43 percent have housing cost burden. Further, 19 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 Monroe County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $552 to $1,148. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $552 |
| One BR | $620 |
| Two BR | $814 |
| Three BR | $1,011 |
| Four BR | $1,148 |
2024 Fair Market Rents in Monroe County, Arkansas
How many units are rented at Fair Market Rent (FMR) in Monroe County?
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 | 14 | 88 percent |
| One BR | 241 | 81 percent |
| Two BR | 227 | 75 percent |
Rental Units Below FMR in Monroe County, Arkansas
How many affordable rental units are in Monroe County?
There are a variety of federal affordable housing programs serving households in Monroe County, Arkansas including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 176 |
| Public Housing | 273 |
| Section 8 Project-Based Rental Assistance | 58 |
| Section 202 Supportive Housing for the Elderly | 19 |
| USDA Section 515 Rural Rental Housing | 159 |
| USDA Section 514 Farm Labor Housing | 2 |
Tracked Units by Federal Program in Monroe County, Arkansas
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Monroe County, Arkansas
Monroe County features 481 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 Monroe County, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monroe County.
Housing Choice Vouchers in Monroe County, Arkansas
On average, Section 8 Housing Choice vouchers pay Monroe County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Monroe County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Monroe County, Arkansas for a two-bedroom apartment is between $733 and $895.
Sourced from federal housing data and AffordableHousingOnline.com research.
