What HUD offices serve Altavista, Virginia?
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 Virginia Public Housing and Low-Income Apartments Waiting Lists page for openings near Altavista.
How many renters live in Altavista, Virginia?
The City of Altavista has 3,370 people living in 1,451 households.
There are 998 renters living in 511 renter households in this City. Renters make up 29.61 percent of the population living in Altavista.
What is the rental market like in Altavista, Virginia?
There are an estimated 1,655 housing units in the Altavista area. Of these, 539 units are rental homes, making up 33 percent of the housing market. For every renter household in Altavista, Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Altavista?
The rental vacancy rate in Altavista is 5 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 Altavista for each bedroom size?
Occupied Rental Units by Size in Altavista
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 50 | 299 | 153 | 9 |
Occupied Rental Units by Size in Altavista
A large number of apartments in Altavista 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 Altavista are overburdened by housing costs?
Among renter households in this market, 53 percent have housing cost burden. Further, 19 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 Altavista
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $948 to $1,627. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $948 |
| One BR | $966 |
| Two BR | $1,093 |
| Three BR | $1,494 |
| Four BR | $1,627 |
2024 Fair Market Rents in Altavista, Virginia
How many units are rented at Fair Market Rent (FMR) in Altavista?
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 | 43 | 86 percent |
| Two BR | 262 | 88 percent |
Rental Units Below FMR in Altavista, Virginia
How many affordable rental units are in Altavista?
There are a variety of federal affordable housing programs serving households in Altavista, Virginia including the following:
| Federal Program | Unit Count |
| USDA Section 515 Rural Rental Housing | 25 |
Tracked Units by Federal Program in Altavista, Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Altavista, Virginia
Altavista features 25 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 Altavista, Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Altavista.
Housing Choice Vouchers in Altavista, Virginia
On average, Section 8 Housing Choice vouchers pay Altavista landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Altavista.
The maximum amount a voucher would pay on behalf of a low-income tenant in Altavista, Virginia for a two-bedroom apartment is between $984 and $1,202.
Sourced from federal housing data and AffordableHousingOnline.com research.
