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

Discover affordable housing in New Madrid County where there are 33+ 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.

Scott Manor Apartments

803 West Gladys Street, Sikeston, Missouri 63801

Parma Apartments

210 Dawna St, Parma, Missouri 63870

Northside Manor Apartments

610 Huffman, Portageville, Missouri 63873

Howardville Apartments I

102 W Laura St, Howardville, Missouri 63869

Marston Apartments

400 Elm St, Marston, Missouri 63866

Magnolia Manor Apartments

576 W State Highway 162, Portageville, Missouri 63873

Cottonwood Point Apartments

500 W State Highway 162, Portageville, Missouri 63873

Kathleen Manor Apartments

107 W Kathleen St, Sikeston, Missouri 63801

Sikeston Apartments I

118 N 2nd St, Sikeston, Missouri 63801

Howardville Apartments II

102 W Laura St., Howardville, Missouri 63869

Lakeview Apartments

1200 Barnes Ave, Portageville, Missouri 63873

Sikeston

104 Cardinal St, Sikeston, Missouri 63801

Dog Wood Apartments

403 W State Highway 162, Portageville, Missouri 63873

Lilbourn Garden Apartments

1 Blades Dr, Lilbourn, Missouri 63862

Old Oak Apartments

447 Pinnell Ln, New Madrid, Missouri 63869

Howardville Apartments II

102 W Laura St, New Madrid, Missouri 63869

New Madrid Garden Apartments

1 Blades Dr, New Madrid, Missouri 63869

Dog Wood Apartments

RR 3 Box 158-50, Portageville, Missouri 63873

Magnolia Manor

504 W State Highway 162, Portageville, Missouri 63873

Delmo Echo

PO Box 354, Lilbourn, Missouri 63862

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In New Madrid County, Missouri
$15.80/hour
$3.50 (+28%) more than Missouri minimum wage and $8.55 (+118%) more than the Federal minimum wage.
Learn More About New Madrid County, Missouri Affordable Housing ↓

How many renters live in New Madrid County, Missouri?

The County of New Madrid County has 16,341 people living in 6,769 households.

There are 5,632 renters living in 2,380 renter households in this County. Renters make up 34.47 percent of the population living in New Madrid County.

What is the rental market like in New Madrid County, Missouri?

There are an estimated 7,919 housing units in the New Madrid County area. Of these, 2,452 units are rental homes, making up 31 percent of the housing market. For every renter household in New Madrid County, Missouri, there are 1 rental units.

What is the vacancy rate for rentals in New Madrid County?

The rental vacancy rate in New Madrid County is 3 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in New Madrid County for each bedroom size?

Occupied Rental Units by Size in New Madrid County
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
21 332 1,050 769 184
Occupied Rental Units by Size in New Madrid County

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

Among renter households in this market, 36 percent have housing cost burden. Further, 17 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 New Madrid County

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $629 to $1,111. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $629
One BR $635
Two BR $834
Three BR $1,008
Four BR $1,111
2024 Fair Market Rents in New Madrid County, Missouri

How many units are rented at Fair Market Rent (FMR) in New Madrid 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 67 percent
One BR 238 72 percent
Two BR 561 53 percent
Rental Units Below FMR in New Madrid County, Missouri

How many affordable rental units are in New Madrid County?

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

Federal Program Unit Count
Low Income Housing Tax Credit 230
Public Housing 279
Section 8 Project-Based Rental Assistance 233
Section 202 Supportive Housing for the Elderly 10
USDA Section 515 Rural Rental Housing 215
Tracked Units by Federal Program in New Madrid County, Missouri

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

Income Based Apartments in New Madrid County, Missouri

New Madrid County features 979 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 New Madrid County, Missouri

There are 167 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in New Madrid County.

Housing Choice Vouchers in New Madrid County, Missouri

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

The maximum amount a voucher would pay on behalf of a low-income tenant in New Madrid County, Missouri for a two-bedroom apartment is between $751 and $917.

Sourced from federal housing data and AffordableHousingOnline.com research.