Affordable Housing In Nevada County

7 Low Income Apartment Communities In Nevada County

Nevada County Group Home

678 Hatley Ave
Prescott, Arkansas
Elderly Supportive Housing

Hawthorne Apartments

615 E 3rd St S
Prescott, Arkansas

North Terrace Addition

700 High Meadow St
Prescott, Arkansas

Prescott Apartments

420 E 6th St S
Prescott, Arkansas

Prescott, City Of

Walter Acres Subdivis
Prescott, Arkansas

Martin Place II Apartments

508 Martin St
Prescott, Arkansas
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Guide To Affordable Housing in Nevada County, Arkansas

There are 7 low income housing apartment communities offering 212 affordable apartments for rent in Nevada County, Arkansas.

Income Based Apartments in Nevada County, Arkansas

Nevada County features 139 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 Nevada County, Arkansas

There are 73 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Nevada County.

Housing Choice Vouchers in Nevada County, Arkansas

On average, Section 8 Housing Choice vouchers pay Nevada County landlords $500 per month towards rent. The average voucher holder contributes $200 towards rent in Nevada County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Nevada County, Arkansas for a two-bedroom apartment is between $652 and $796.

2022 Nevada County, 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
Nevada County, Arkansas Fair Market Rent $536 $550 $724 $895 $1,035
Nevada County, Arkansas Payment Standard Range $482 to $590 $495 to $605 $652 to $796 $806 to $985 $932 to $1,139

Sourced from federal housing data and research.

Nevada County, AR Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 212
Total Housing Units with Rental Assistance 139
Percentage of Housing Units Occupied By Renters 28.83%
Average Renter Household Size 2.90
Average Household Size 2.48
Median Household Income $30,691 ±$6,746
Median Rent $635 ±$101
Percentage Of Renters Overburdened 40.96% ± 12.83pp
Total Population 8,793

Population and Household Demographics

Nevada County is a county in Arkansas with a population of 8,793. There are 3,472 households in the county with an average household size of 2.48 persons. 28.83% of households in Nevada County are renters.

Income and Rent Overburden in Nevada County

The median gross income for households in Nevada County is $30,691 a year, or $2,558 a month. The median rent for the county is $635 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Nevada County, a household making less than $2,117 a month would be considered overburdened when renting an apartment at or above the median rent. 40.96% of households who rent are overburdened in Nevada County.

Area Median Income In Nevada County

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.

In Nevada County, HUD calculates the Area Median Income for a family of four as $50,400

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 Nevada County

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 Nevada County

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 Nevada County AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,590 $18,310 $23,030 $27,750 $32,470 $34,950 $37,350 $39,750
50% AMI Income Limits
Renters earning up to 50% of the Nevada County AMI may qualify for rental assistance programs that target Very Low Income households.
$21,100 $24,100 $27,100 $30,100 $32,550 $34,950 $37,350 $39,750
80% AMI Income Limits
Renters earning up to 80% of the Nevada County AMI may qualify for rental assistance programs that target Low Income households.
$33,750 $38,550 $43,350 $48,150 $52,050 $55,900 $59,750 $63,600

Cities In Nevada County

Select A City to View its Apartment Communities and Waiting Lists.

City Served By
Bluff City
Prescott The HUD funded Public Housing Agency that serves Prescott is the Prescott Housing Authority.