Low Income Apartments and Affordable Housing For Rent in Indianola, MS

Discover affordable housing in Indianola where there are 11+ 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.

Pine West Apartments

603 Beaverdam Rd, Indianola, Mississippi 38751

Indianola Rentals, LP

700 Marie Road, Indianola, Mississippi 38751

Green Acres Apartments Lp

Kinlock Rd, Indianola, Mississippi 38751

Nelson Dotson CO Delta Housing Dev

2001 Kinlock Rd, Indianola, Mississippi 38751

Delta Manor Apartments CO Delta Housing Dev

215 Wiggins Rd, Indianola, Mississippi 38751

Matthews Retirement Center

702 Kinlock Ave, Indianola, Mississippi 38751

Sunflower Estates

54 Spoonbill Ct, Indianola, Mississippi 38751

Royal Oaks Apartments

201 Wiggins Rd, Indianola, Mississippi 38751

Canterbury Apartments

810 Airport Rd, Indianola, Mississippi 38751

Oscar Giles Estates C/O Delta Hsg Dev

Dhdc, Indianola, Mississippi

Pine Lane Apartments

Penny Cir, Indianola, Mississippi 38751

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Indianola, Mississippi
$17.10/hour
$9.85 (+136%) more than Mississippi minimum wage and $9.85 (+136%) more than the Federal minimum wage.
Learn More About Indianola, Mississippi Affordable Housing ↓

How many renters live in Indianola, Mississippi?

The City of Indianola has 9,572 people living in 3,547 households.

There are 4,006 renters living in 1,628 renter households in this City. Renters make up 41.85 percent of the population living in Indianola.

What is the rental market like in Indianola, Mississippi?

There are an estimated 4,060 housing units in the Indianola area. Of these, 1,760 units are rental homes, making up 43 percent of the housing market. For every renter household in Indianola, Mississippi, there are 1 rental units.

What is the vacancy rate for rentals in Indianola?

The rental vacancy rate in Indianola is 8 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 Indianola for each bedroom size?

Occupied Rental Units by Size in Indianola
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 356 456 681 118
Occupied Rental Units by Size in Indianola

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

Among renter households in this market, 39 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 Indianola

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $612 to $1,354. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $612
One BR $687
Two BR $903
Three BR $1,160
Four BR $1,354
2024 Fair Market Rents in Indianola, Mississippi

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

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 279 78 percent
Two BR 338 74 percent
Rental Units Below FMR in Indianola, Mississippi

How many affordable rental units are in Indianola?

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

Federal Program Unit Count
Low Income Housing Tax Credit 65
Section 8 Project-Based Rental Assistance 49
USDA Section 515 Rural Rental Housing 154
Tracked Units by Federal Program in Indianola, Mississippi

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

Income Based Apartments in Indianola, Mississippi

Indianola features 304 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 Indianola, Mississippi

There are 137 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Indianola.

Housing Choice Vouchers in Indianola, Mississippi

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Indianola, Mississippi for a two-bedroom apartment is between $813 and $993.

Sourced from federal housing data and AffordableHousingOnline.com research.