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

Discover affordable housing in Elkin where there are 8+ 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.

Collinswood Apartments

250 Lyles St, Elkin, North Carolina 28621

bed 1-2
switch_access_shortcut Short Wait

Cooper Terrace

259 PGW Drive, Elkin, North Carolina 28621

switch_access_shortcut Short Wait
accessibility Accessible

Maple Ridge Apartments

900 Johnson Ridge Rd, Elkin, North Carolina 28621

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
payment Income Based
accessibility Accessible

Elk Court Apartments

150 Layell Rd, Elkin, North Carolina 28621

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
accessibility Accessible

Chatham Woods

230 Hawthorne Rd, Elkin, North Carolina 28621

switch_access_shortcut Short Wait
accessibility Accessible

Woodland Bluff

125 Woodland Dr, Elkin, North Carolina 28621

bed 2-3
switch_access_shortcut Short Wait
accessibility Accessible

Elkin Ridge Apartments

200 PGW Dr., Elkin, North Carolina 28621

bed 1-3
payment $335-746/mo.
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers
payment Income Based
accessibility Accessible

Woodrun Apts

200 Lyles St, Elkin, North Carolina

switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers

How To Identify Affordable Housing in Elkin, 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.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
calendar_today Opened: Oct 1
Open Until Further Notice
calendar_month

Reported On February 23rd, 2024 by Nathan Brunet

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Elkin, North Carolina
$16.21/hour
$8.96 (+124%) more than North Carolina minimum wage and $8.96 (+124%) more than the Federal minimum wage.
Learn More About Elkin, North Carolina Affordable Housing ↓

What HUD offices serve Elkin, North Carolina?

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 Elkin, North Carolina.

Go to the North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Elkin.

How many renters live in Elkin, North Carolina?

The City of Elkin has people living in households.

There are renters living in renter households in this City. Renters make up 38.52 percent of the population living in Elkin.

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

There are an estimated housing units in the Elkin area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Elkin, North Carolina, there are 1.23 rental units.

What is the vacancy rate for rentals in Elkin?

The rental vacancy rate in Elkin is 19 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 Elkin for each bedroom size?

Occupied Rental Units by Size in Elkin
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 163 331 110 0
Occupied Rental Units by Size in Elkin

A large number of apartments in Elkin 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 Elkin

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $672 to $1,368. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $672
One BR $677
Two BR $856
Three BR $1,045
Four BR $1,368
2024 Fair Market Rents in Elkin, North Carolina

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

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
One BR 119 73 percent
Two BR 212 64 percent
Rental Units Below FMR in Elkin, North Carolina

How many affordable rental units are in Elkin?

There are a variety of federal affordable housing programs serving households in Elkin, 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 Elkin, North Carolina

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

Income Based Apartments in Elkin, North Carolina

Elkin features 188 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 Elkin, North Carolina

There are 144 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elkin.

Housing Choice Vouchers in Elkin, North Carolina

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Elkin, North Carolina for a two-bedroom apartment is between $770 and $942.

Sourced from federal housing data and AffordableHousingOnline.com research.