How many renters live in Indianola, Mississippi?
The City of Indianola has people living in households.
There are renters living in 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 housing units in the Indianola area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Indianola, Mississippi, there are 1.08 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 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 | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
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.