Low Income Apartments and Affordable Housing For Rent in Little Elm, TX

Discover affordable housing in Little Elm where there are 2+ 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.

Lakeside Manor 62+ Apartments

902 West Eldorado Parkway, Little Elm, Texas 75068

Lakeview Court Apartments

204 Main St, Little Elm, Texas 75068

calendar_today Opened: Jan 21
Open Until Further Notice

Reported On February 23rd, 2024 by Lorena Bentley

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Little Elm, Texas
$33.30/hour
$26.05 (+359%) more than Texas minimum wage and $26.05 (+359%) more than the Federal minimum wage.
Learn More About Little Elm, Texas Affordable Housing ↓

What HUD offices serve Little Elm, Texas?

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, Section 8 Project-Based Voucher (PBV), Mainstream Voucher programs for Little Elm, Texas.

Go to the Texas Public Housing and Low-Income Apartments Waiting Lists page for openings near Little Elm.

How many renters live in Little Elm, Texas?

The City of Little Elm has 48,241 people living in 16,752 households.

There are 13,311 renters living in 5,396 renter households in this City. Renters make up 27.59 percent of the population living in Little Elm.

What is the rental market like in Little Elm, Texas?

There are an estimated 17,516 housing units in the Little Elm area. Of these, 5,829 units are rental homes, making up 33 percent of the housing market. For every renter household in Little Elm, Texas, there are 1 rental units.

What is the vacancy rate for rentals in Little Elm?

The rental vacancy rate in Little Elm is 6 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 Little Elm for each bedroom size?

Occupied Rental Units by Size in Little Elm
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
254 1,627 1,281 1,477 719
Occupied Rental Units by Size in Little Elm

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

Among renter households in this market, 46 percent have housing cost burden. Further, 23 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 Little Elm

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,426 to $2,847. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,426
One BR $1,500
Two BR $1,758
Three BR $2,212
Four BR $2,847
2024 Fair Market Rents in Little Elm, Texas

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

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 130 51 percent
One BR 1,204 74 percent
Two BR 128 10 percent
Rental Units Below FMR in Little Elm, Texas

How many affordable rental units are in Little Elm?

There are a variety of federal affordable housing programs serving households in Little Elm, Texas including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 200
USDA Section 515 Rural Rental Housing 24
Tracked Units by Federal Program in Little Elm, Texas

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

Income Based Apartments in Little Elm, Texas

Little Elm 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 Little Elm, Texas

There are 176 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Little Elm.

Housing Choice Vouchers in Little Elm, Texas

On average, Section 8 Housing Choice vouchers pay Little Elm landlords $900 per month towards rent. The average voucher holder contributes $400 towards rent in Little Elm.

The maximum amount a voucher would pay on behalf of a low-income tenant in Little Elm, Texas for a two-bedroom apartment is between $1,582 and $1,934.

Sourced from federal housing data and AffordableHousingOnline.com research.