Low Income Apartments and Affordable Housing For Rent in Stephens, AR

Discover affordable housing in Stephens where there are 1+ 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.

Rose Terrace

104 Rose Ter, Stephens, Arkansas 71764

How To Identify Affordable Housing in Stephens, Arkansas

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Stephens, Arkansas
$4.42 (+40%) more than Arkansas minimum wage and $8.17 (+113%) more than the Federal minimum wage.
Learn More About Stephens, Arkansas Affordable Housing ↓

How many renters live in Stephens, Arkansas?

The City of Stephens has 957 people living in 251 households.

There are 134 renters living in 41 renter households in this City. Renters make up 14 percent of the population living in Stephens.

What is the rental market like in Stephens, Arkansas?

There are an estimated 412 housing units in the Stephens area. Of these, 51 units are rental homes, making up 12 percent of the housing market. For every renter household in Stephens, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Stephens?

The rental vacancy rate in Stephens is 20 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Stephens for each bedroom size?

Occupied Rental Units by Size in Stephens
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 6 7 28 0
Occupied Rental Units by Size in Stephens

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

Among renter households in this market, 49 percent have housing cost burden. Further, 7 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 Stephens

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $696 to $1,113. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $696
One BR $700
Two BR $814
Three BR $1,109
Four BR $1,113
2024 Fair Market Rents in Stephens, Arkansas

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

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
One BR 6 100 percent
Two BR 4 57 percent
Rental Units Below FMR in Stephens, Arkansas

How many affordable rental units are in Stephens?

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

Federal Program Unit Count
Public Housing 52
Tracked Units by Federal Program in Stephens, Arkansas

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

Income Based Apartments in Stephens, Arkansas

Stephens features 52 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 Stephens, Arkansas

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

Housing Choice Vouchers in Stephens, Arkansas

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

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

Sourced from federal housing data and AffordableHousingOnline.com research.