What HUD offices serve Rich Square, 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 Rich Square.
How many renters live in Rich Square, North Carolina?
The City of Rich Square has people living in households.
There are renters living in renter households in this City. Renters make up 25.6 percent of the population living in Rich Square.
What is the rental market like in Rich Square, North Carolina?
There are an estimated housing units in the Rich Square area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Rich Square, North Carolina, there are 1.15 rental units.
What is the vacancy rate for rentals in Rich Square?
The rental vacancy rate in Rich Square is 9 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 Rich Square for each bedroom size?
Occupied Rental Units by Size in Rich Square
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 33 | 19 | 35 | 10 |
Occupied Rental Units by Size in Rich Square
A large number of apartments in Rich Square 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 Rich Square
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $719 to $1,288. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $719 |
| One BR | $724 |
| Two BR | $951 |
| Three BR | $1,150 |
| Four BR | $1,288 |
2024 Fair Market Rents in Rich Square, North Carolina
How many units are rented at Fair Market Rent (FMR) in Rich Square?
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 | 33 | 100 percent |
| Two BR | 16 | 84 percent |
Rental Units Below FMR in Rich Square, North Carolina
How many affordable rental units are in Rich Square?
There are a variety of federal affordable housing programs serving households in Rich Square, North Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit |
Tracked Units by Federal Program in Rich Square, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Rich Square, North Carolina
Rich Square features 24 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 Rich Square, North Carolina
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rich Square.
Housing Choice Vouchers in Rich Square, North Carolina
On average, Section 8 Housing Choice vouchers pay Rich Square landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Rich Square.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rich Square, North Carolina for a two-bedroom apartment is between $856 and $1,046.
Sourced from federal housing data and AffordableHousingOnline.com research.