Low Income Apartments and Affordable Housing For Rent in Cornelius, NC

Discover affordable housing in Cornelius where there are 2+ 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.

Antiquity Heights

20215 Heights Way, Cornelius, North Carolina 28031

Cornelius Village Apartments

19315 Meridian Street, Cornelius, North Carolina 28031

auto_awesome Focus Results:
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
elderly Senior
payment Income Based
accessibility Accessible
accessible_forward Disability

How To Identify Affordable Housing in Cornelius, North Carolina

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.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Cornelius, North Carolina
$29.43/hour
$22.18 (+306%) more than North Carolina minimum wage and $22.18 (+306%) more than the Federal minimum wage.
Learn More About Cornelius, North Carolina Affordable Housing ↓

How many renters live in Cornelius, North Carolina?

The City of Cornelius has people living in households.

There are renters living in renter households in this City. Renters make up 25.71 percent of the population living in Cornelius.

What is the rental market like in Cornelius, North Carolina?

There are an estimated housing units in the Cornelius area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Cornelius, North Carolina, there are 1.08 rental units.

What is the vacancy rate for rentals in Cornelius?

The rental vacancy rate in Cornelius is 5 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 Cornelius for each bedroom size?

Occupied Rental Units by Size in Cornelius
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
51 908 1,770 945 243
Occupied Rental Units by Size in Cornelius

A large number of apartments in Cornelius 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 Cornelius

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,347 to $2,481. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,347
One BR $1,384
Two BR $1,554
Three BR $1,936
Four BR $2,481
2024 Fair Market Rents in Cornelius, North Carolina

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

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 45 88 percent
One BR 648 71 percent
Two BR 945 53 percent
Rental Units Below FMR in Cornelius, North Carolina

How many affordable rental units are in Cornelius?

There are a variety of federal affordable housing programs serving households in Cornelius, North Carolina including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
USDA Section 515 Rural Rental Housing
Tracked Units by Federal Program in Cornelius, North Carolina

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

Income Based Apartments in Cornelius, North Carolina

Cornelius features 30 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 Cornelius, North Carolina

There are 86 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Cornelius.

Housing Choice Vouchers in Cornelius, North Carolina

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Cornelius, North Carolina for a two-bedroom apartment is between $1,399 and $1,709.

Sourced from federal housing data and AffordableHousingOnline.com research.