Low Income Apartments and Affordable Housing For Rent in Walnut Ridge, AR

Discover affordable housing in Walnut Ridge 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.

Walnut Square Apartments

304 NW Memorial Ln, Walnut Ridge, Arkansas 72476

Larkspur Gardens

109 SW Larkspur Dr, Walnut Ridge, Arkansas 72476

Cottonwood Apartments - Walnut Ridge

603 NE Carolina St, Walnut Ridge, Arkansas 72476

Walnut Ridge Manor

111 SE 6th St, Walnut Ridge, Arkansas 72476

Brad of Walnut Ridge

601 Pocahontas Rd, Walnut Ridge, Arkansas 72476

Hicks Farm Ptnsp

1723 Hwy 91 S, Walnut Ridge, Arkansas

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Walnut Ridge, 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 Walnut Ridge, Arkansas Affordable Housing ↓

What HUD offices serve Walnut Ridge, 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 Walnut Ridge, Arkansas.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Walnut Ridge, Arkansas.

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

How many renters live in Walnut Ridge, Arkansas?

The City of Walnut Ridge has 5,411 people living in 2,093 households.

There are 1,974 renters living in 886 renter households in this City. Renters make up 36.48 percent of the population living in Walnut Ridge.

What is the rental market like in Walnut Ridge, Arkansas?

There are an estimated 2,396 housing units in the Walnut Ridge area. Of these, 1,013 units are rental homes, making up 42 percent of the housing market. For every renter household in Walnut Ridge, Arkansas, there are 1 rental units.

What is the vacancy rate for rentals in Walnut Ridge?

The rental vacancy rate in Walnut Ridge is 10 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 Walnut Ridge for each bedroom size?

Occupied Rental Units by Size in Walnut Ridge
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 179 426 234 44
Occupied Rental Units by Size in Walnut Ridge

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

Among renter households in this market, 24 percent have housing cost burden. Further, 6 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 Walnut Ridge

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $604 to $1,276. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $604
One BR $620
Two BR $814
Three BR $1,082
Four BR $1,276
2024 Fair Market Rents in Walnut Ridge, Arkansas

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

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 153 85 percent
Two BR 266 62 percent
Rental Units Below FMR in Walnut Ridge, Arkansas

How many affordable rental units are in Walnut Ridge?

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

Federal Program Unit Count
Low Income Housing Tax Credit 94
Section 8 Project-Based Rental Assistance 50
USDA Section 515 Rural Rental Housing 65
Tracked Units by Federal Program in Walnut Ridge, Arkansas

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

Income Based Apartments in Walnut Ridge, Arkansas

Walnut Ridge features 115 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 Walnut Ridge, Arkansas

There are 10 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Walnut Ridge.

Housing Choice Vouchers in Walnut Ridge, Arkansas

On average, Section 8 Housing Choice vouchers pay Walnut Ridge landlords $300 per month towards rent. The average voucher holder contributes $200 towards rent in Walnut Ridge.

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

Sourced from federal housing data and AffordableHousingOnline.com research.