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

Discover affordable housing in Monticello where there are 13+ 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.

The Vineyards at Monticello

125 Midway Route , Monticello, Arkansas 71655

bed 1-3

Turtle Creek Apartments

130 W Oakland Ave, Monticello, Arkansas 71655

Pecan Grove Apartments

315 W Jackson Ave, Monticello, Arkansas 71655

Pilgrim Rest Apartments

1032 N Cooper St, Monticello, Arkansas 71655

Cedar Hill Apartments

839 S Gabbert St, Monticello, Arkansas 71655

bed 1-2

Ridgeway

206 E Gaines St, Monticello, Arkansas 71655

Monticello Apartments

415 W Conrad Ave, Monticello, Arkansas 71655

Monticello Estates

233 W College Ave, Monticello, Arkansas 71655

Monticello, City Of

332 N Larkin St, Monticello, Arkansas 71655

Park Ridge Chapelridge of Monticello

141 Market St, Monticello, Arkansas 71655

Annswood Apartments

570 W Conrad Ave, Monticello, Arkansas 71655

Oakview Apt

291 W Jackson St, Monticello, Arkansas

Indian Mounds Place

Hwy 278 West, Monticello, Arkansas

How To Identify Affordable Housing in Monticello, Arkansas

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Monticello, Arkansas
$16.74/hour
$5.74 (+52%) more than Arkansas minimum wage and $9.49 (+131%) more than the Federal minimum wage.
Learn More About Monticello, Arkansas Affordable Housing ↓

What HUD offices serve Monticello, 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 Monticello, Arkansas.

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

How many renters live in Monticello, Arkansas?

The City of Monticello has people living in households.

There are renters living in renter households in this City. Renters make up 43.6 percent of the population living in Monticello.

What is the rental market like in Monticello, Arkansas?

There are an estimated housing units in the Monticello area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Monticello, Arkansas, there are 1.06 rental units.

What is the vacancy rate for rentals in Monticello?

The rental vacancy rate in Monticello is 5 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 Monticello for each bedroom size?

Occupied Rental Units by Size in Monticello
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
54 246 979 397 78
Occupied Rental Units by Size in Monticello

A large number of apartments in Monticello 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 Monticello

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $655 to $1,291. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $655
One BR $673
Two BR $884
Three BR $1,084
Four BR $1,291
2024 Fair Market Rents in Monticello, Arkansas

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

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 34 63 percent
One BR 232 94 percent
Two BR 740 76 percent
Rental Units Below FMR in Monticello, Arkansas

How many affordable rental units are in Monticello?

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

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
Section 811 Supportive Housing for Persons with Disabilities
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Monticello, Arkansas

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

Income Based Apartments in Monticello, Arkansas

Monticello features 294 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 Monticello, Arkansas

There are 178 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monticello.

Housing Choice Vouchers in Monticello, Arkansas

On average, Section 8 Housing Choice vouchers pay Monticello landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Monticello.

The maximum amount a voucher would pay on behalf of a low-income tenant in Monticello, Arkansas for a two-bedroom apartment is between $796 and $972.

Sourced from federal housing data and AffordableHousingOnline.com research.