How many renters live in Parke County, Indiana?
The County of Parke County has people living in households.
There are renters living in renter households in this County. Renters make up 17.17 percent of the population living in Parke County.
What is the rental market like in Parke County, Indiana?
There are an estimated housing units in the Parke County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Parke County, Indiana, there are 1.02 rental units.
What is the vacancy rate for rentals in Parke County?
The rental vacancy rate in Parke County 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 Parke County for each bedroom size?
Occupied Rental Units by Size in Parke County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 52 | 200 | 354 | 325 | 93 |
Occupied Rental Units by Size in Parke County
A large number of apartments in Parke County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Parke County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $745 to $1,316. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $745 |
| One BR | $752 |
| Two BR | $988 |
| Three BR | $1,311 |
| Four BR | $1,316 |
2024 Fair Market Rents in Parke County, Indiana
How many units are rented at Fair Market Rent (FMR) in Parke 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 | 31 | 60 percent |
| One BR | 156 | 78 percent |
| Two BR | 213 | 60 percent |
Rental Units Below FMR in Parke County, Indiana
How many affordable rental units are in Parke County?
There are a variety of federal affordable housing programs serving households in Parke County, Indiana including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Parke County, Indiana
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Parke County, Indiana
Parke County features 156 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 Parke County, Indiana
There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Parke County.
Housing Choice Vouchers in Parke County, Indiana
On average, Section 8 Housing Choice vouchers pay Parke County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Parke County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Parke County, Indiana for a two-bedroom apartment is between $889 and $1,087.
Sourced from federal housing data and AffordableHousingOnline.com research.