How many renters live in Flat Rock, North Carolina?
The City of Flat Rock has 3,483 people living in 1,667 households.
There are 70 renters living in 36 renter households in this City. Renters make up 2.01 percent of the population living in Flat Rock.
What is the rental market like in Flat Rock, North Carolina?
There are an estimated 2,199 housing units in the Flat Rock area. Of these, 36 units are rental homes, making up 2 percent of the housing market. For every renter household in Flat Rock, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Flat Rock?
The rental vacancy rate in Flat Rock is 0 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 Flat Rock for each bedroom size?
Occupied Rental Units by Size in Flat Rock
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 15 | 10 | 0 | 11 |
Occupied Rental Units by Size in Flat Rock
A large number of apartments in Flat Rock 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 Flat Rock are overburdened by housing costs?
Among renter households in this market, 0 percent have housing cost burden. Further, 0 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 Flat Rock
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,428 to $2,851. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,428 |
| One BR | $1,496 |
| Two BR | $1,680 |
| Three BR | $2,160 |
| Four BR | $2,851 |
2024 Fair Market Rents in Flat Rock, North Carolina
How many units are rented at Fair Market Rent (FMR) in Flat Rock?
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 | 15 | 100 percent |
| Two BR | 0 | 100 percent |
Rental Units Below FMR in Flat Rock, North Carolina
How many affordable rental units are in Flat Rock?
There are a variety of federal affordable housing programs serving households in Flat Rock, North Carolina including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 2 |
Tracked Units by Federal Program in Flat Rock, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Flat Rock, North Carolina
Flat Rock features 0 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 Flat Rock, North Carolina
There are 42 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Flat Rock.
Housing Choice Vouchers in Flat Rock, North Carolina
On average, Section 8 Housing Choice vouchers pay Flat Rock landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Flat Rock.
The maximum amount a voucher would pay on behalf of a low-income tenant in Flat Rock, North Carolina for a two-bedroom apartment is between $1,512 and $1,848.
Sourced from federal housing data and AffordableHousingOnline.com research.
