Low Income Apartments and Affordable Housing For Rent in Water Valley, MS

Discover affordable housing in Water Valley where there are 5+ 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.

Water Valley Assoc Ltd CO Massengill Prop

704 Airways Acres Dr, Water Valley, Mississippi 0

Water Valley Manor

1618 Eckford St, Water Valley, Mississippi 38965

payment Subsidized

Water Valley Assoc Ltd C/O Massengill Prop

704 Airways Acres Drive, Water Valley, Mississippi

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Berkshire Apartments Ltd CO Carpenter Mgmt

Berkshire Dr, Water Valley, Mississippi 38965

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

Rolling Hills Homes

100 Charlie Harris St, Water Valley, Mississippi 38965

payment Subsidized

How To Identify Affordable Housing in Water Valley, Mississippi

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Water Valley, 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 Water Valley, Mississippi Affordable Housing ↓

What HUD offices serve Water Valley, Mississippi?

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) programs for Water Valley, Mississippi.
Operates the Public Housing programs for Water Valley, Mississippi.

Go to the Mississippi Public Housing and Low-Income Apartments Waiting Lists page for openings near Water Valley.

How many renters live in Water Valley, Mississippi?

The City of Water Valley has people living in households.

There are renters living in renter households in this City. Renters make up 46.14 percent of the population living in Water Valley.

What is the rental market like in Water Valley, Mississippi?

There are an estimated housing units in the Water Valley area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Water Valley, Mississippi, there are 1.07 rental units.

What is the vacancy rate for rentals in Water Valley?

The rental vacancy rate in Water Valley is 7 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 Water Valley for each bedroom size?

Occupied Rental Units by Size in Water Valley
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 7 138 375 8
Occupied Rental Units by Size in Water Valley

A large number of apartments in Water Valley 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 Water Valley

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $706 to $1,532. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $706
One BR $711
Two BR $903
Three BR $1,273
Four BR $1,532
2024 Fair Market Rents in Water Valley, Mississippi

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

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 7 100 percent
Two BR 73 53 percent
Rental Units Below FMR in Water Valley, Mississippi

How many affordable rental units are in Water Valley?

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

Federal Program Unit Count
Public Housing
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Water Valley, Mississippi

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

Income Based Apartments in Water Valley, Mississippi

Water Valley features 308 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 Water Valley, Mississippi

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Water Valley.

Housing Choice Vouchers in Water Valley, Mississippi

On average, Section 8 Housing Choice vouchers pay Water Valley landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Water Valley.

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

Sourced from federal housing data and AffordableHousingOnline.com research.