Low Income Apartments and Affordable Housing For Rent in Hopewell, VA

Discover affordable housing in Hopewell where there are 7+ 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.

The Summit Apartments

1007 Langston Park Dr, Hopewell, Virginia 23860

Hopewell Heights

4105 Old Iron Ct, Hopewell, Virginia 23860

Freedman Point

311 E Cawson St, Hopewell, Virginia 23860

Kippax Place

100 S Kippax St, Hopewell, Virginia 23860

Piper Square

1529 Piper Square Dr., Hopewell, Virginia 23860

Thomas Rolfe Court

211 S. 7th Avenue, Hopewell, Virginia 23860

Davisville and Bland Court

913 Terminal St, Hopewell, Virginia 23860

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Hopewell, Virginia
$29.02/hour
$17.02 (+142%) more than Virginia minimum wage and $21.77 (+300%) more than the Federal minimum wage.
Learn More About Hopewell, Virginia Affordable Housing ↓

What HUD offices serve Hopewell, 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.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing, Section 8 Project-Based Voucher (PBV) programs for Hopewell, Virginia.
Operates the Section 8 Housing Choice Voucher (HCV), Section 8 Project-Based Rental Assistance (PBRA) programs for Hopewell, Virginia.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Hopewell, Virginia.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Hopewell, Virginia.

Go to the Virginia Public Housing and Low-Income Apartments Waiting Lists page for openings near Hopewell.

How many renters live in Hopewell, Virginia?

The City of Hopewell has 23,046 people living in 9,348 households.

There are 10,967 renters living in 4,341 renter households in this City. Renters make up 47.59 percent of the population living in Hopewell.

What is the rental market like in Hopewell, Virginia?

There are an estimated 10,415 housing units in the Hopewell area. Of these, 4,412 units are rental homes, making up 42 percent of the housing market. For every renter household in Hopewell, Virginia, there are 1 rental units.

What is the vacancy rate for rentals in Hopewell?

The rental vacancy rate in Hopewell is 1 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 Hopewell for each bedroom size?

Occupied Rental Units by Size in Hopewell
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
162 524 1,644 1,454 496
Occupied Rental Units by Size in Hopewell

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

Among renter households in this market, 49 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 Hopewell

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,328 to $2,393. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,328
One BR $1,365
Two BR $1,532
Three BR $1,959
Four BR $2,393
2024 Fair Market Rents in Hopewell, Virginia

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

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 162 100 percent
One BR 496 95 percent
Two BR 1,548 94 percent
Rental Units Below FMR in Hopewell, Virginia

How many affordable rental units are in Hopewell?

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

Federal Program Unit Count
Low Income Housing Tax Credit 154
Public Housing 256
Section 8 Project-Based Rental Assistance 150
Section 202 Supportive Housing for the Elderly 1
Tracked Units by Federal Program in Hopewell, Virginia

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

Income Based Apartments in Hopewell, Virginia

Hopewell features 521 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 Hopewell, Virginia

There are 68 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hopewell.

Housing Choice Vouchers in Hopewell, Virginia

On average, Section 8 Housing Choice vouchers pay Hopewell landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Hopewell.

The maximum amount a voucher would pay on behalf of a low-income tenant in Hopewell, Virginia for a two-bedroom apartment is between $1,379 and $1,685.

Sourced from federal housing data and AffordableHousingOnline.com research.