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

Discover affordable housing in Ripley County where there are 12+ 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.

calendar_today Opened: Mar 4
Open Until Further Notice

Reported On March 4th, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Ripley County, Indiana
$16.74/hour
$9.49 (+131%) more than Indiana minimum wage and $9.49 (+131%) more than the Federal minimum wage.
Learn More About Ripley County, Indiana Affordable Housing ↓

What HUD offices serve Ripley 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), Family Self-Sufficiency programs for Ripley County, Indiana.

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

How many renters live in Ripley County, Indiana?

The County of Ripley County has 28,990 people living in 11,114 households.

There are 5,514 renters living in 2,537 renter households in this County. Renters make up 19.02 percent of the population living in Ripley County.

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

There are an estimated 12,301 housing units in the Ripley County area. Of these, 2,710 units are rental homes, making up 22 percent of the housing market. For every renter household in Ripley County, Indiana, there are 1 rental units.

What is the vacancy rate for rentals in Ripley County?

The rental vacancy rate in Ripley County is 4 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 Ripley County for each bedroom size?

Occupied Rental Units by Size in Ripley County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
93 573 1,023 626 143
Occupied Rental Units by Size in Ripley County

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

Among renter households in this market, 33 percent have housing cost burden. Further, 21 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 Ripley County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $617 to $1,282. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $617
One BR $673
Two BR $884
Three BR $1,216
Four BR $1,282
2024 Fair Market Rents in Ripley County, Indiana

How many units are rented at Fair Market Rent (FMR) in Ripley 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 74 80 percent
One BR 400 70 percent
Two BR 618 60 percent
Rental Units Below FMR in Ripley County, Indiana

How many affordable rental units are in Ripley County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 194
Section 8 Project-Based Rental Assistance 56
USDA Section 515 Rural Rental Housing 274
Tracked Units by Federal Program in Ripley County, Indiana

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

Income Based Apartments in Ripley County, Indiana

Ripley County features 254 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 Ripley County, Indiana

There are 44 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ripley County.

Housing Choice Vouchers in Ripley County, Indiana

On average, Section 8 Housing Choice vouchers pay Ripley County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Ripley County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ripley County, Indiana for a two-bedroom apartment is between $796 and $972.

Sourced from federal housing data and AffordableHousingOnline.com research.