Low Income Apartments and Affordable Housing For Rent in Floyd County, IN

Discover affordable housing in Floyd County where there are 21+ 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.

Carriage House New Albany

4202 Grant Line Rd, New Albany, Indiana 47150

Valley Ridge Apartments

200 Village Dr W, New Albany, Indiana 47150

Muir Manor Apartments

1302 E Spring St, New Albany, Indiana 47150

Center Place III

200 Mosier Ave, New Albany, Indiana 47150

Manor House Apartments

715 Scribner Dr, New Albany, Indiana 47150

The Meadows of Guerin

8037 Unruh Dr, Georgetown, Indiana 47122

Cross Creek Apartments

2606 Green Valley Rd, New Albany, Indiana 47150

Monon Crossing Apartments

2676 Grantline Rd, New Albany, Indiana 47150

Brookview Glen Apartments

1810 Graybrook Ln, New Albany, Indiana 47150

St Edward Court

701 E Spring St, New Albany, Indiana 47150

Prestwick Square of New Albany

4100 Prestwick Sq, New Albany, Indiana 47150

Mark Elrod and Riverview Towers

500 Scribner Dr, New Albany, Indiana 47150

Parkview/Broadmeade

223 Graybrook Ln, New Albany, Indiana 47150

Riverside Terrace

1 Riverside Dr, New Albany, Indiana 47150

1112 - 1122 Cristiani Way

1112 Cristiani Way, Georgetown, Indiana 47122

1101 - 1111 Cristiana Way - Was 7930 Senior 64

1101 Cristiani Way, Georgetown, Indiana 47122

Center for Women and Families Domestic Violence Res.

4919 Charlestown Rd, New Albany, Indiana 47150

821 - 23 W Market

821 W Market St, New Albany, Indiana 47150

1502 E Spring St

1502 E Spring St, New Albany, Indiana 47150

511 E Oak St

511 E Oak St, New Albany, Indiana 47150

calendar_today Opened: Jul 26
Open Until Further Notice

Reported On January 23rd, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Floyd County, Indiana
$24.64/hour
$17.39 (+240%) more than Indiana minimum wage and $17.39 (+240%) more than the Federal minimum wage.
Learn More About Floyd County, Indiana Affordable Housing ↓

What HUD offices serve Floyd County, 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 Floyd County, Indiana.

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

How many renters live in Floyd County, Indiana?

The County of Floyd County has 80,714 people living in 33,343 households.

There are 17,880 renters living in 8,784 renter households in this County. Renters make up 22.15 percent of the population living in Floyd County.

What is the rental market like in Floyd County, Indiana?

There are an estimated 34,358 housing units in the Floyd County area. Of these, 8,989 units are rental homes, making up 26 percent of the housing market. For every renter household in Floyd County, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Floyd County?

The rental vacancy rate in Floyd County is 9 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 Floyd County for each bedroom size?

Occupied Rental Units by Size in Floyd County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
185 1,693 4,076 1,719 238
Occupied Rental Units by Size in Floyd County

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

Among renter households in this market, 39 percent have housing cost burden. Further, 16 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 Floyd County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $976 to $1,955. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $976
One BR $1,077
Two BR $1,301
Three BR $1,701
Four BR $1,955
2024 Fair Market Rents in Floyd County, Indiana

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

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 133 72 percent
One BR 1,483 88 percent
Two BR 3,157 77 percent
Rental Units Below FMR in Floyd County, Indiana

How many affordable rental units are in Floyd County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 330
Public Housing 509
Section 8 Project-Based Rental Assistance 267
Section 202 Supportive Housing for the Elderly 47
Section 811 Supportive Housing for Persons with Disabilities 8
Tracked Units by Federal Program in Floyd County, Indiana

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

Income Based Apartments in Floyd County, Indiana

Floyd County features 1,321 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 Floyd County, Indiana

There are 546 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Floyd County.

Housing Choice Vouchers in Floyd County, Indiana

On average, Section 8 Housing Choice vouchers pay Floyd County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Floyd County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Floyd County, Indiana for a two-bedroom apartment is between $1,171 and $1,431.

Sourced from federal housing data and AffordableHousingOnline.com research.