. Low Income Apartments For Rent in Ravenden Springs, Arkansas - Affordable Housing Online

Sunshine Valley Apt Suneshine Valley

150 Galbraith Rd
Ravenden Springs, Arkansas
Rent Assisted
S. 515 Rural
Showing Results 1-15
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There are 0 low-income apartments in Ravenden Springs that offer reduced rents to eligible households.

Rental assistance programs support 15 low-income homes in Ravenden Springs where households pay rent based on how much they earn.

Affordable rent data for some communities last confirmed on April 23rd, 2021. Subdsidized rents typically change once a year based on federal guidance.

Ravenden Springs, Arkansas Affordable Housing Data

Income Based Apartments in Ravenden Springs, Arkansas

Ravenden Springs features 15 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 Ravenden Springs, Arkansas

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ravenden Springs.

Housing Choice Vouchers in Ravenden Springs, Arkansas

On average, Section 8 Housing Choice vouchers pay Ravenden Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ravenden Springs.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ravenden Springs, Arkansas for a two-bedroom apartment is between $648 and $792.

2023 Ravenden Springs, 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
Ravenden Springs, Arkansas Fair Market Rent $624 $637 $720 $980 $1,226
Ravenden Springs, Arkansas Payment Standard Range $562 to $686 $573 to $701 $648 to $792 $882 to $1,078 $1,103 to $1,349

Sourced from federal housing data and AffordableHousingOnline.com research.

Ravenden Springs, AR Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 15
Total Housing Units with Rental Assistance 15
Percentage of Housing Units Occupied By Renters 15.24%
Average Renter Household Size 1.69
Average Household Size 2.12
Median Household Income $31,025 ±$1,281
Median Rent $430 ±$233
Percentage Of Renters Overburdened 56.25% ± 108.4pp
Total Population 223

Population and Household Demographics

Ravenden Springs is a city in Randolph County, Arkansas with a population of 223. There are 105 households in the city with an average household size of 2.12 persons. 15.24% of households in Ravenden Springs are renters.

Income and Rent Overburden in Ravenden Springs

The median gross income for households in Ravenden Springs is $31,025 a year, or $2,585 a month. The median rent for the city is $430 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ravenden Springs, a household making less than $1,433 a month would be considered overburdened when renting an apartment at or above the median rent. 56.25% of households who rent are overburdened in Ravenden Springs.

Area Median Income In Ravenden Springs

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 Ravenden Springs, the AMI is calculated from all households within Randolph County.

In Ravenden Springs, HUD calculates the Area Median Income for a family of four as $62,000

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 Ravenden Springs

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 Ravenden Springs

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30% AMI Income Limits
Renters earning up to 30% of the Ravenden Springs AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,580 $19,720 $24,860 $30,000 $34,250 $36,800 $39,350 $41,850
50% AMI Income Limits
Renters earning up to 50% of the Ravenden Springs AMI may qualify for rental assistance programs that target Very Low Income households.
$22,200 $25,400 $28,550 $31,700 $34,250 $36,800 $39,350 $41,850
80% AMI Income Limits
Renters earning up to 80% of the Ravenden Springs AMI may qualify for rental assistance programs that target Low Income households.
$35,500 $40,600 $45,650 $50,700 $54,800 $58,850 $62,900 $66,950