Low Income Apartments and Affordable Housing For Rent in Bristol, IN

Discover affordable housing in Bristol 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.

Homestead Apartments Kathy Richards Mgmt

502 Bloomingdale Dr, Bristol, Indiana 46507

calendar_today Opened: Nov 14
Open Until Further Notice

Reported On February 23rd, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Bristol, Indiana
$20.87/hour
$13.62 (+188%) more than Indiana minimum wage and $13.62 (+188%) more than the Federal minimum wage.
Learn More About Bristol, Indiana Affordable Housing ↓

What HUD offices serve Bristol, Indiana?

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 Bristol, Indiana.

Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Bristol.

How many renters live in Bristol, Indiana?

The City of Bristol has 1,862 people living in 637 households.

There are 346 renters living in 168 renter households in this City. Renters make up 18.58 percent of the population living in Bristol.

What is the rental market like in Bristol, Indiana?

There are an estimated 870 housing units in the Bristol area. Of these, 331 units are rental homes, making up 38 percent of the housing market. For every renter household in Bristol, Indiana, there are 2 rental units.

What is the vacancy rate for rentals in Bristol?

The rental vacancy rate in Bristol is 24 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 Bristol for each bedroom size?

Occupied Rental Units by Size in Bristol
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 14 89 56 9
Occupied Rental Units by Size in Bristol

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

Among renter households in this market, 29 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 Bristol

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $849 to $1,468. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $849
One BR $879
Two BR $1,102
Three BR $1,415
Four BR $1,468
2024 Fair Market Rents in Bristol, Indiana

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

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 0 100 percent
Two BR 59 66 percent
Rental Units Below FMR in Bristol, Indiana

How many affordable rental units are in Bristol?

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

Federal Program Unit Count
Low Income Housing Tax Credit 24
Section 202 Supportive Housing for the Elderly 1
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Bristol, Indiana

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

Income Based Apartments in Bristol, Indiana

Bristol features 24 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 Bristol, Indiana

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

Housing Choice Vouchers in Bristol, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Bristol, Indiana for a two-bedroom apartment is between $992 and $1,212.

Sourced from federal housing data and AffordableHousingOnline.com research.