How many renters live in Fayette, Mississippi?
The City of Fayette has people living in households.
There are renters living in renter households in this City. Renters make up 50.43 percent of the population living in Fayette.
What is the rental market like in Fayette, Mississippi?
There are an estimated housing units in the Fayette area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Fayette, Mississippi, there are 1.03 rental units.
What is the vacancy rate for rentals in Fayette?
The rental vacancy rate in Fayette is 3 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 Fayette for each bedroom size?
Occupied Rental Units by Size in Fayette
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 91 | 45 | 118 | 47 |
Occupied Rental Units by Size in Fayette
A large number of apartments in Fayette have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many units are rented at Fair Market Rent (FMR) in Fayette?
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 | 91 | 100 percent |
| Two BR | 27 | 60 percent |
Rental Units Below FMR in Fayette, Mississippi
How many affordable rental units are in Fayette?
There are a variety of federal affordable housing programs serving households in Fayette, Mississippi including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Fayette, Mississippi
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Fayette, Mississippi
Fayette features 266 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 Fayette, Mississippi
There are 84 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fayette.
Housing Choice Vouchers in Fayette, Mississippi
On average, Section 8 Housing Choice vouchers pay Fayette landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Fayette.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fayette, Mississippi for a two-bedroom apartment is between $813 and $993.
Sourced from federal housing data and AffordableHousingOnline.com research.