Low Income Apartments and Affordable Housing For Rent in Hot Spring County, AR

Discover affordable housing in Hot Spring County where there are 9+ 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.

River Park Apartments

1750 W Moline St, Malvern, Arkansas 72104

Reach Out II Apartments

2605 Canine Rd, Malvern, Arkansas 72104

Malvern Manor Apartments

718 Sulphur Springs Rd, Malvern, Arkansas 72104

Birch Leaf Apartments

343 Babcock St, Malvern, Arkansas 72104

Marla Square Apartments II

825 Sulphur Springs Rd, Malvern, Arkansas 72104

Garland Street Apartments

615 Garland St, Malvern, Arkansas 72104

On Our Own IV

1401 Owen St, Malvern, Arkansas 72104

Gates Manor Apartments

301 Burger St., Malvern, Arkansas

Gloster Court

1701 Bailey Pl, Malvern, Arkansas 72104

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Hot Spring County, Arkansas
$15.42/hour
$4.42 (+40%) more than Arkansas minimum wage and $8.17 (+113%) more than the Federal minimum wage.
Learn More About Hot Spring County, Arkansas Affordable Housing ↓

How many renters live in Hot Spring County, Arkansas?

The County of Hot Spring County has 33,129 people living in 11,900 households.

There are 6,701 renters living in 2,540 renter households in this County. Renters make up 20.23 percent of the population living in Hot Spring County.

What is the rental market like in Hot Spring County, Arkansas?

There are an estimated 14,247 housing units in the Hot Spring County area. Of these, 2,731 units are rental homes, making up 19 percent of the housing market. For every renter household in Hot Spring County, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Hot Spring County?

The rental vacancy rate in Hot Spring County 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 Hot Spring County for each bedroom size?

Occupied Rental Units by Size in Hot Spring County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
204 231 1,012 864 225
Occupied Rental Units by Size in Hot Spring County

A large number of apartments in Hot Spring 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 Hot Spring County are overburdened by housing costs?

Among renter households in this market, 27 percent have housing cost burden. Further, 11 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 Hot Spring County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $603 to $1,310. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $603
One BR $620
Two BR $814
Three BR $1,090
Four BR $1,310
2024 Fair Market Rents in Hot Spring County, Arkansas

How many units are rented at Fair Market Rent (FMR) in Hot Spring 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 94 46 percent
One BR 163 71 percent
Two BR 606 60 percent
Rental Units Below FMR in Hot Spring County, Arkansas

How many affordable rental units are in Hot Spring County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 154
Public Housing 169
Section 8 Project-Based Rental Assistance 20
Section 202 Supportive Housing for the Elderly 20
Section 811 Supportive Housing for Persons with Disabilities 53
USDA Section 515 Rural Rental Housing 112
Tracked Units by Federal Program in Hot Spring County, Arkansas

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

Income Based Apartments in Hot Spring County, Arkansas

Hot Spring County features 326 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 Hot Spring County, Arkansas

There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hot Spring County.

Housing Choice Vouchers in Hot Spring County, Arkansas

On average, Section 8 Housing Choice vouchers pay Hot Spring County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Hot Spring County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Hot Spring County, Arkansas for a two-bedroom apartment is between $733 and $895.

Sourced from federal housing data and AffordableHousingOnline.com research.