Low Income Apartments and Affordable Housing For Rent in Malvern, OH

Discover affordable housing in Malvern where there are 3+ 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.

Malvern Manor II

900 Carrollton St, Malvern, Ohio 0

Malvern 2 Apt

750 Malvern Manor Dr, Malvern, Ohio

Malvern 1 Apt

709 Malvern Manor Dr, Malvern, Ohio

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Malvern, Ohio
$17.14/hour
$10.14 (+145%) more than Ohio minimum wage and $9.89 (+136%) more than the Federal minimum wage.
Learn More About Malvern, Ohio Affordable Housing ↓

How many renters live in Malvern, Ohio?

The City of Malvern has 1,555 people living in 717 households.

There are 852 renters living in 455 renter households in this City. Renters make up 54.79 percent of the population living in Malvern.

What is the rental market like in Malvern, Ohio?

There are an estimated 768 housing units in the Malvern area. Of these, 464 units are rental homes, making up 60 percent of the housing market. For every renter household in Malvern, Ohio, there are 1 rental units.

What is the vacancy rate for rentals in Malvern?

The rental vacancy rate in Malvern 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 Malvern for each bedroom size?

Occupied Rental Units by Size in Malvern
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
25 190 151 39 7
Occupied Rental Units by Size in Malvern

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

Among renter households in this market, 43 percent have housing cost burden. Further, 30 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 Malvern

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $613 to $1,205. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $613
One BR $690
Two BR $905
Three BR $1,134
Four BR $1,205
2024 Fair Market Rents in Malvern, Ohio

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

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 16 64 percent
One BR 172 91 percent
Two BR 95 63 percent
Rental Units Below FMR in Malvern, Ohio

How many affordable rental units are in Malvern?

There are a variety of federal affordable housing programs serving households in Malvern, Ohio including the following:

Federal Program Unit Count
USDA Section 515 Rural Rental Housing 64
Tracked Units by Federal Program in Malvern, Ohio

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

Income Based Apartments in Malvern, Ohio

Malvern features 64 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 Malvern, Ohio

There are 40 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Malvern.

Housing Choice Vouchers in Malvern, Ohio

On average, Section 8 Housing Choice vouchers pay Malvern landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Malvern.

The maximum amount a voucher would pay on behalf of a low-income tenant in Malvern, Ohio for a two-bedroom apartment is between $815 and $996.

Sourced from federal housing data and AffordableHousingOnline.com research.