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

Discover affordable housing in Monroe 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.

Icemorlee Street Apartments

1700 Icemorlee St, Monroe, North Carolina 28110

Cotton Street Commons

819 Cotton St, Monroe, North Carolina 28112

bed 1-2

Arc Hds Union County Group Home 3

1708 Lake Monroe Dr, Monroe, North Carolina 28112

Jefferson Village Apartments

800 West Jefferson St, Monroe, North Carolina 28112

The Arc Union Apartments

W Phifer St, Monroe, North Carolina 28110

901 Hart St

901 Hart St, Monroe, North Carolina 28110

Greenwood West Apartments

2503 Riverside Ln, Monroe, North Carolina 28110

Greenwood East Apartments Dba Riverside Village Apartments

705 Castle Rd, Monroe, North Carolina 28110

How To Identify Affordable Housing in Monroe, 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 Monroe, North Carolina
$22.18 (+306%) more than North Carolina minimum wage and $22.18 (+306%) more than the Federal minimum wage.
Learn More About Monroe, North Carolina Affordable Housing ↓

What HUD offices serve Monroe, 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), Public Housing programs for Monroe, North Carolina.

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

How many renters live in Monroe, North Carolina?

The City of Monroe has people living in households.

There are renters living in renter households in this City. Renters make up 38.29 percent of the population living in Monroe.

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

There are an estimated housing units in the Monroe area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Monroe, North Carolina, there are 1.02 rental units.

What is the vacancy rate for rentals in Monroe?

The rental vacancy rate in Monroe is 2 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 Monroe for each bedroom size?

Occupied Rental Units by Size in Monroe
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
262 467 2,191 1,586 222
Occupied Rental Units by Size in Monroe

A large number of apartments in Monroe 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 Monroe

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 Monroe, North Carolina

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

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 191 73 percent
One BR 419 90 percent
Two BR 1,981 90 percent
Rental Units Below FMR in Monroe, North Carolina

How many affordable rental units are in Monroe?

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

Federal Program Unit Count
Low Income Housing Tax Credit
Public Housing
Section 8 Project-Based Rental Assistance
Section 811 Supportive Housing for Persons with Disabilities
Tracked Units by Federal Program in Monroe, North Carolina

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

Income Based Apartments in Monroe, North Carolina

Monroe features 337 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 Monroe, North Carolina

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monroe.

Housing Choice Vouchers in Monroe, North Carolina

On average, Section 8 Housing Choice vouchers pay Monroe landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Monroe.

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

Sourced from federal housing data and AffordableHousingOnline.com research.