Low Income Apartments and Affordable Housing For Rent in Mercer County, MO

Discover affordable housing in Mercer County where there are 4+ 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.

Oakwood Terrace

400 W Elm Street, Princeton, Missouri 64673

Mercer Rural Rental Housing Inc

101 Brant St, Mercer, Missouri 0

Hal England and Cain St Apartments

801 E Hickland St, Princeton, Missouri 64673

Mercer County Family Apartments

1310 E Main St, Princeton, Missouri 64673

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Mercer County, Missouri
$15.09/hour
$2.79 (+23%) more than Missouri minimum wage and $7.84 (+108%) more than the Federal minimum wage.
Learn More About Mercer County, Missouri Affordable Housing ↓

What HUD offices serve Mercer County, Missouri?

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 Mercer County, Missouri.

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

How many renters live in Mercer County, Missouri?

The County of Mercer County has 3,517 people living in 1,253 households.

There are 616 renters living in 259 renter households in this County. Renters make up 17.51 percent of the population living in Mercer County.

What is the rental market like in Mercer County, Missouri?

There are an estimated 1,929 housing units in the Mercer County area. Of these, 286 units are rental homes, making up 15 percent of the housing market. For every renter household in Mercer County, Missouri, there are 1 rental units.

What is the vacancy rate for rentals in Mercer County?

The rental vacancy rate in Mercer County 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 Mercer County for each bedroom size?

Occupied Rental Units by Size in Mercer County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
14 111 81 40 9
Occupied Rental Units by Size in Mercer County

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

Among renter households in this market, 23 percent have housing cost burden. Further, 9 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 Mercer County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $601 to $1,217. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $601
One BR $607
Two BR $797
Three BR $1,123
Four BR $1,217
2024 Fair Market Rents in Mercer County, Missouri

How many units are rented at Fair Market Rent (FMR) in Mercer 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 14 100 percent
One BR 105 95 percent
Two BR 32 40 percent
Rental Units Below FMR in Mercer County, Missouri

How many affordable rental units are in Mercer County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 16
Public Housing 27
Section 8 Project-Based Rental Assistance 35
USDA Section 515 Rural Rental Housing 16
Tracked Units by Federal Program in Mercer County, Missouri

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

Income Based Apartments in Mercer County, Missouri

Mercer County features 62 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 Mercer County, Missouri

There are 80 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mercer County.

Housing Choice Vouchers in Mercer County, Missouri

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Mercer County, Missouri for a two-bedroom apartment is between $717 and $877.

Sourced from federal housing data and AffordableHousingOnline.com research.