Low Income Apartments and Affordable Housing For Rent in Siloam Springs, AR

Discover affordable housing in Siloam Springs where there are 6+ 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.

Stoneridge Duplexes of Siloam Springs

824A Travertine Street , Siloam Springs, Arkansas 72761

Heritage Heights Lodge

1225 E Tulsa St, Siloam Springs, Arkansas 72761

Kenwood Village II

2503 E Kenwood St, Siloam Springs, Arkansas 72761

Heritage Heights Cottages

1255 W Tulsa St, Siloam Springs, Arkansas 72761

Heritage Square Apartments

1200 W Jefferson St, Siloam Springs, Arkansas 72761

Kenwood Village Apartments

2425 E Kenwood St, Siloam Springs, Arkansas 72761

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Siloam Springs, Arkansas
$10.23 (+93%) more than Arkansas minimum wage and $13.98 (+193%) more than the Federal minimum wage.
Learn More About Siloam Springs, Arkansas Affordable Housing ↓

What HUD offices serve Siloam Springs, 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 Siloam Springs, Arkansas.

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

How many renters live in Siloam Springs, Arkansas?

The City of Siloam Springs has 17,632 people living in 5,963 households.

There are 6,714 renters living in 2,499 renter households in this City. Renters make up 38.08 percent of the population living in Siloam Springs.

What is the rental market like in Siloam Springs, Arkansas?

There are an estimated 6,511 housing units in the Siloam Springs area. Of these, 2,545 units are rental homes, making up 39 percent of the housing market. For every renter household in Siloam Springs, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Siloam Springs?

The rental vacancy rate in Siloam Springs is 1 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 Siloam Springs for each bedroom size?

Occupied Rental Units by Size in Siloam Springs
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
150 209 1,120 865 155
Occupied Rental Units by Size in Siloam Springs

A large number of apartments in Siloam Springs 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 Siloam Springs are overburdened by housing costs?

Among renter households in this market, 39 percent have housing cost burden. Further, 10 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 Siloam Springs

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $871 to $1,847. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $871
One BR $924
Two BR $1,121
Three BR $1,580
Four BR $1,847
2024 Fair Market Rents in Siloam Springs, Arkansas

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

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 150 100 percent
One BR 163 78 percent
Two BR 906 81 percent
Rental Units Below FMR in Siloam Springs, Arkansas

How many affordable rental units are in Siloam Springs?

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

Federal Program Unit Count
Low Income Housing Tax Credit 298
Section 8 Project-Based Rental Assistance 104
Section 202 Supportive Housing for the Elderly 28
USDA Section 515 Rural Rental Housing 169
Tracked Units by Federal Program in Siloam Springs, Arkansas

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

Income Based Apartments in Siloam Springs, Arkansas

Siloam Springs features 322 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 Siloam Springs, Arkansas

There are 50 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Siloam Springs.

Housing Choice Vouchers in Siloam Springs, Arkansas

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Siloam Springs, Arkansas for a two-bedroom apartment is between $1,009 and $1,233.

Sourced from federal housing data and AffordableHousingOnline.com research.