Low Income Apartments and Affordable Housing For Rent in Richmond, MO

Discover affordable housing in Richmond where there are 11+ 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.

Richmond Estates

757 Driskill Dr, Richmond, Missouri 64085

Richmond Manor Apartments

East Lexington St, Richmond, Missouri 64085

Richmond Manor Lp

436 S Lexington Ct, Richmond, Missouri 64085

Southview Apartments

314 E South St, Richmond, Missouri 64085

Ideal Apartments

201 W Thornton St, Richmond, Missouri 64085

Harvest Hills Villas

1409 Hamra Dr., Richmond, Missouri 64085

Richmond Square

Short St And Fairway Dr, Richmond, Missouri 99999

Richmond Square

1105 Fairway Dr, Richmond, Missouri 64085

Richmond Senior Housing

115 Alex Loop, Richmond, Missouri 64085

Shirkey Estates Inc

806 Wollard Blvd, Richmond, Missouri

Richmond Lha

312 W Buchanan St, Richmond, Missouri 64085

Open Until Further Notice

Reported On February 23rd, 2024 by Ayat Elkarib

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Richmond, Missouri
$11.53 (+94%) more than Missouri minimum wage and $16.58 (+229%) more than the Federal minimum wage.
Learn More About Richmond, Missouri Affordable Housing ↓

What HUD offices serve Richmond, 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), Public Housing programs for Richmond, Missouri.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Richmond, Missouri.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Richmond, Missouri.

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

How many renters live in Richmond, Missouri?

The City of Richmond has 5,975 people living in 2,532 households.

There are 2,274 renters living in 1,015 renter households in this City. Renters make up 38.06 percent of the population living in Richmond.

What is the rental market like in Richmond, Missouri?

There are an estimated 2,847 housing units in the Richmond area. Of these, 1,071 units are rental homes, making up 38 percent of the housing market. For every renter household in Richmond, Missouri, there are 1 rental units.

What is the vacancy rate for rentals in Richmond?

The rental vacancy rate in Richmond is 4 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 Richmond for each bedroom size?

Occupied Rental Units by Size in Richmond
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
11 218 435 334 17
Occupied Rental Units by Size in Richmond

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

Among renter households in this market, 34 percent have housing cost burden. Further, 14 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 Richmond

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $985 to $1,931. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $985
One BR $1,098
Two BR $1,258
Three BR $1,645
Four BR $1,931
2024 Fair Market Rents in Richmond, Missouri

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

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 11 100 percent
One BR 196 90 percent
Two BR 402 92 percent
Rental Units Below FMR in Richmond, Missouri

How many affordable rental units are in Richmond?

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

Federal Program Unit Count
Low Income Housing Tax Credit 132
Public Housing 118
Section 811 Supportive Housing for Persons with Disabilities 29
USDA Section 515 Rural Rental Housing 84
Tracked Units by Federal Program in Richmond, Missouri

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

Income Based Apartments in Richmond, Missouri

Richmond features 233 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 Richmond, Missouri

There are 156 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Richmond.

Housing Choice Vouchers in Richmond, Missouri

On average, Section 8 Housing Choice vouchers pay Richmond landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Richmond.

The maximum amount a voucher would pay on behalf of a low-income tenant in Richmond, Missouri for a two-bedroom apartment is between $1,132 and $1,384.

Sourced from federal housing data and AffordableHousingOnline.com research.