Low Income Apartments and Affordable Housing For Rent in Holly Springs, NC

What HUD offices serve Holly Springs, 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.

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

How many renters live in Holly Springs, North Carolina?

The City of Holly Springs has 42,023 people living in 13,596 households.

There are 5,934 renters living in 2,417 renter households in this City. Renters make up 14.12 percent of the population living in Holly Springs.

What is the rental market like in Holly Springs, North Carolina?

There are an estimated 14,364 housing units in the Holly Springs area. Of these, 2,872 units are rental homes, making up 20 percent of the housing market. For every renter household in Holly Springs, North Carolina, there are 1 rental units.

What is the vacancy rate for rentals in Holly Springs?

The rental vacancy rate in Holly Springs is 13 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 Holly Springs for each bedroom size?

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

Among renter households in this market, 36 percent have housing cost burden. Further, 21 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 Holly Springs

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,427 to $2,711. FMRs are updated annually by HUD for every city and county nationwide.

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

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:

How many affordable rental units are in Holly Springs?

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

Income Based Apartments in Holly Springs, North Carolina

Holly Springs features 53 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 Holly Springs, North Carolina

There are 267 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Holly Springs.

Housing Choice Vouchers in Holly Springs, North Carolina

On average, Section 8 Housing Choice vouchers pay Holly Springs landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Holly Springs.

The maximum amount a voucher would pay on behalf of a low-income tenant in Holly Springs, North Carolina for a two-bedroom apartment is between $1,481 and $1,811.

Sourced from federal housing data and AffordableHousingOnline.com research.