GardenWalk of Bentonville Apartments
There are 368 low-income apartments in Bentonville that offer reduced rents to eligible households.
Rental assistance programs support 48 low-income homes in Bentonville where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $365 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Bentonville, Arkansas Affordable Housing Data
Income Based Apartments in Bentonville, Arkansas
Bentonville features 48 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 Bentonville, Arkansas
There are 368 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bentonville.
Housing Choice Vouchers in Bentonville, Arkansas
On average, Section 8 Housing Choice vouchers pay Bentonville landlords $400 per month towards rent. The average voucher holder contributes $400 towards rent in Bentonville.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bentonville, Arkansas for a two-bedroom apartment is between $1,009 and $1,233.
2024 Bentonville, Arkansas Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Bentonville, Arkansas Fair Market Rent | $871 | $924 | $1,121 | $1,580 | $1,847 |
| Bentonville, Arkansas Payment Standard Range | $784 to $958 | $832 to $1,016 | $1,009 to $1,233 | $1,422 to $1,738 | $1,662 to $2,032 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Bentonville, AR Affordable Housing Snapshot
| Total Affordable Apartment Properties | 33 |
|---|---|
| Total Low Income Apartments | 434 |
| Total Housing Units with Rental Assistance | 48 |
| Percentage of Housing Units Occupied By Renters | 43.29% |
| Average Renter Household Size | 2.44 |
| Average Household Size | 2.72 |
| Median Household Income | $71,941 ±$3,480 |
| Median Rent | $792 ±$22 |
| Percentage Of Renters Overburdened | 27.95% ± 4.33pp |
| Total Population | 40,368 |
Population and Household Demographics
Bentonville is a city in Benton County, Arkansas with a population of 40,368. There are 14,605 households in the city with an average household size of 2.72 persons. 43.29% of households in Bentonville are renters.
Income and Rent Overburden in Bentonville
The median gross income for households in Bentonville is $71,941 a year, or $5,995 a month. The median rent for the city is $792 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bentonville, a household making less than $2,640 a month would be considered overburdened when renting an apartment at or above the median rent. 27.95% of households who rent are overburdened in Bentonville.
Area Median Income In Bentonville
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Bentonville, the AMI is calculated from all households within Benton County.
In Bentonville, HUD calculates the Area Median Income for a family of four as $92,400
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Bentonville
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Bentonville
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Bentonville AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$18,650 | $21,300 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Bentonville AMI may qualify for rental assistance programs that target Very Low Income households. |
$31,050 | $35,450 | $39,900 | $44,300 | $47,850 | $51,400 | $54,950 | $58,500 |
| 80% AMI Income Limits Renters earning up to 80% of the Bentonville AMI may qualify for rental assistance programs that target Low Income households. |
$49,650 | $56,750 | $63,850 | $70,900 | $76,600 | $82,250 | $87,950 | $93,600 |
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