Low Income Apartments and Affordable Housing For Rent in Mount Vernon, MO

Discover affordable housing in Mount Vernon where there are 7+ 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.

J and J Apartments

601 S Walnut St, Mount Vernon, Missouri 65712

Southwind Apartments

701 Gibbs Ave, Mount Vernon, Missouri 65712

Susanne Apartments

1423 David Rd, Mount Vernon, Missouri 65712

Mt Vernon Housing Commission

800 S East St, Mount Vernon, Missouri

Mt Vernon Apartments

707 S Market St, Mount Vernon, Missouri

Misty Creek

202 Kori Ct, Mount Vernon, Missouri 65712

Brookview Apartments of Mt Vernon

1011 Fillmore St, Mount Vernon, Missouri 65712

Open Until Further Notice

Reported On February 23rd, 2024 by Chris Madden

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Mount Vernon, 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 Mount Vernon, Missouri Affordable Housing ↓

What HUD offices serve Mount Vernon, 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 Mount Vernon, Missouri.

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

How many renters live in Mount Vernon, Missouri?

The City of Mount Vernon has 4,511 people living in 1,773 households.

There are 1,739 renters living in 835 renter households in this City. Renters make up 38.55 percent of the population living in Mount Vernon.

What is the rental market like in Mount Vernon, Missouri?

There are an estimated 2,081 housing units in the Mount Vernon area. Of these, 972 units are rental homes, making up 47 percent of the housing market. For every renter household in Mount Vernon, Missouri, there are 1 rental units.

What is the vacancy rate for rentals in Mount Vernon?

The rental vacancy rate in Mount Vernon is 14 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 Mount Vernon for each bedroom size?

Occupied Rental Units by Size in Mount Vernon
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
86 108 346 258 0
Occupied Rental Units by Size in Mount Vernon

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

Among renter households in this market, 34 percent have housing cost burden. Further, 7 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 Mount Vernon

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $615 to $1,229. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $615
One BR $619
Two BR $797
Three BR $1,123
Four BR $1,229
2024 Fair Market Rents in Mount Vernon, Missouri

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

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 69 80 percent
One BR 76 70 percent
Two BR 210 61 percent
Rental Units Below FMR in Mount Vernon, Missouri

How many affordable rental units are in Mount Vernon?

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

Federal Program Unit Count
Low Income Housing Tax Credit 30
Section 8 Project-Based Rental Assistance 50
USDA Section 515 Rural Rental Housing 98
Tracked Units by Federal Program in Mount Vernon, Missouri

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

Income Based Apartments in Mount Vernon, Missouri

Mount Vernon features 126 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 Mount Vernon, Missouri

There are 14 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mount Vernon.

Housing Choice Vouchers in Mount Vernon, Missouri

On average, Section 8 Housing Choice vouchers pay Mount Vernon landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Mount Vernon.

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

Sourced from federal housing data and AffordableHousingOnline.com research.