What HUD offices serve Algood, Tennessee?
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 Tennessee Public Housing and Low-Income Apartments Waiting Lists page for openings near Algood.
How many renters live in Algood, Tennessee?
The City of Algood has people living in households.
There are renters living in renter households in this City. Renters make up 41.38 percent of the population living in Algood.
What is the rental market like in Algood, Tennessee?
There are an estimated housing units in the Algood area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Algood, Tennessee, there are 1 rental units.
What is the vacancy rate for rentals in Algood?
The rental vacancy rate in Algood 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 Algood for each bedroom size?
Occupied Rental Units by Size in Algood
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 252 | 315 | 372 | 27 |
Occupied Rental Units by Size in Algood
A large number of apartments in Algood 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 Algood
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $760 to $1,578. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $760 |
| One BR | $764 |
| Two BR | $991 |
| Three BR | $1,368 |
| Four BR | $1,578 |
2024 Fair Market Rents in Algood, Tennessee
How many units are rented at Fair Market Rent (FMR) in Algood?
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 | 161 | 64 percent |
| Two BR | 117 | 37 percent |
Rental Units Below FMR in Algood, Tennessee
How many affordable rental units are in Algood?
There are a variety of federal affordable housing programs serving households in Algood, Tennessee including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Public Housing | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Algood, Tennessee
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Algood, Tennessee
Algood features 83 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 Algood, Tennessee
There are 72 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Algood.
Housing Choice Vouchers in Algood, Tennessee
On average, Section 8 Housing Choice vouchers pay Algood landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Algood.
The maximum amount a voucher would pay on behalf of a low-income tenant in Algood, Tennessee for a two-bedroom apartment is between $892 and $1,090.
Sourced from federal housing data and AffordableHousingOnline.com research.