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

Discover affordable housing in Madison where there are 1+ 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.

Poplar Ridge Apartments

16 Courthouse Mountain Rd, Madison, Virginia 22727

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Madison, Virginia
$19.70/hour
$7.70 (+64%) more than Virginia minimum wage and $12.45 (+172%) more than the Federal minimum wage.
Learn More About Madison, Virginia Affordable Housing ↓

What HUD offices serve Madison, 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) programs for Madison, Virginia.
Operates the Section 8 Housing Choice Voucher (HCV) programs for Madison, Virginia.

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

How many renters live in Madison, Virginia?

The City of Madison has 383 people living in 147 households.

There are 226 renters living in 82 renter households in this City. Renters make up 59.01 percent of the population living in Madison.

What is the rental market like in Madison, Virginia?

There are an estimated 168 housing units in the Madison area. Of these, 82 units are rental homes, making up 49 percent of the housing market. For every renter household in Madison, Virginia, there are 1 rental units.

What is the vacancy rate for rentals in Madison?

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

Occupied Rental Units by Size in Madison
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
0 14 23 34 11
Occupied Rental Units by Size in Madison

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

Among renter households in this market, 44 percent have housing cost burden. Further, 34 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 Madison

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $786 to $1,526. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $786
One BR $792
Two BR $1,040
Three BR $1,285
Four BR $1,526
2024 Fair Market Rents in Madison, Virginia

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

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 9 64 percent
Two BR 12 52 percent
Rental Units Below FMR in Madison, Virginia

How many affordable rental units are in Madison?

Income Based Apartments in Madison, Virginia

Madison features 16 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 Madison, Virginia

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison.

Housing Choice Vouchers in Madison, Virginia

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Madison, Virginia for a two-bedroom apartment is between $936 and $1,144.

Sourced from federal housing data and AffordableHousingOnline.com research.