Affordable Housing In Mountain Home
15 Low Income Apartment Communities In Mountain Home
Guide To Affordable Housing in Mountain Home, Arkansas
There are 15 low income housing apartment communities offering 656 affordable apartments for rent in Mountain Home, Arkansas.
Income Based Apartments in Mountain Home, Arkansas
Mountain Home features 143 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 Mountain Home, Arkansas
There are 513 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mountain Home.
Housing Choice Vouchers in Mountain Home, Arkansas
On average, Section 8 Housing Choice vouchers pay Mountain Home landlords $300 per month towards rent. The average voucher holder contributes $300 towards rent in Mountain Home.
The maximum amount a voucher would pay on behalf of a low-income tenant in Mountain Home, Arkansas for a two-bedroom apartment is between $638 and $780.
2022 Mountain Home, 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|
|Mountain Home, Arkansas Fair Market Rent||$525||$547||$709||$876||$978|
|Mountain Home, Arkansas Payment Standard Range||$473 to $578||$492 to $602||$638 to $780||$788 to $964||$880 to $1,076|
Sourced from federal housing data and AffordableHousingOnline.com research.
Mountain Home, AR Affordable Housing Snapshot
|Total Affordable Apartment Properties||15|
|Total Low Income Apartments||656|
|Total Housing Units with Rental Assistance||143|
|Percentage of Housing Units Occupied By Renters||38.02%|
|Average Renter Household Size||2.06|
|Average Household Size||2.07|
|Median Household Income||$33,255 ±$3,043|
|Median Rent||$603 ±$49|
|Percentage Of Renters Overburdened||45.93% ± 9.49pp|
Population and Household Demographics
Mountain Home is a city in Baxter County, Arkansas with a population of 12,309. There are 5,784 households in the city with an average household size of 2.07 persons. 38.02% of households in Mountain Home are renters.
Income and Rent Overburden in Mountain Home
The median gross income for households in Mountain Home is $33,255 a year, or $2,771 a month. The median rent for the city is $603 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Mountain Home, a household making less than $2,010 a month would be considered overburdened when renting an apartment at or above the median rent. 45.93% of households who rent are overburdened in Mountain Home.
Area Median Income In Mountain Home
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 Mountain Home, the AMI is calculated from all households within Baxter County.
In Mountain Home, HUD calculates the Area Median Income for a family of four as $52,600
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 Mountain Home
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 Mountain Home
|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 Mountain Home AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Mountain Home AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Mountain Home AMI may qualify for rental assistance programs that target Low Income households.