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There are 37 low-income apartments in Chicot County that offer reduced rents to eligible households. Low-income rents in Chicot County, Arkansas can range from $686 to $980 depending on the number of bedrooms.
Rental assistance programs support 483 low-income homes in Chicot County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $-5 towards rent each month.
Affordable rent data for some communities last confirmed on June 7th, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Chicot County, Arkansas
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.
| Housing Authority | Programs |
|---|---|
| Lake Village Housing Authority | Section 8 Housing Choice Voucher (HCV) |
Chicot County, Arkansas Affordable Housing Data
Income Based Apartments in Chicot County, Arkansas
Chicot County features 483 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 Chicot County, Arkansas
There are 37 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Chicot County.
Housing Choice Vouchers in Chicot County, Arkansas
On average, Section 8 Housing Choice vouchers pay Chicot County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Chicot County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Chicot County, Arkansas for a two-bedroom apartment is between $733 and $895.
2024 Chicot County, 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 | |
|---|---|---|---|---|---|
| Chicot County, Arkansas Fair Market Rent | $604 | $620 | $814 | $1,089 | $1,376 |
| Chicot County, Arkansas Payment Standard Range | $544 to $664 | $558 to $682 | $733 to $895 | $980 to $1,198 | $1,238 to $1,514 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Chicot County, AR Affordable Housing Snapshot
| Total Affordable Apartment Properties | 13 |
|---|---|
| Total Low Income Apartments | 520 |
| Total Housing Units with Rental Assistance | 483 |
| Percentage of Housing Units Occupied By Renters | 32.35% |
| Average Renter Household Size | 2.64 |
| Average Household Size | 2.36 |
| Median Household Income | $28,913 ±$2,578 |
| Median Rent | $575 ±$43 |
| Percentage Of Renters Overburdened | 43.63% ± 7.35pp |
| Total Population | 11,353 |
Population and Household Demographics
Chicot County is a county in Arkansas with a population of 11,353. There are 4,513 households in the county with an average household size of 2.36 persons. 32.35% of households in Chicot County are renters.
Income and Rent Overburden in Chicot County
The median gross income for households in Chicot County is $28,913 a year, or $2,409 a month. The median rent for the county is $575 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Chicot County, a household making less than $1,917 a month would be considered overburdened when renting an apartment at or above the median rent. 43.63% of households who rent are overburdened in Chicot County.
Area Median Income In Chicot County
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.
In Chicot County, HUD calculates the Area Median Income for a family of four as $49,800
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 Chicot County
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 Chicot County
| 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 Chicot County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,580 | $19,720 | $24,860 | $30,000 | $34,250 | $36,800 | $39,350 | $41,850 |
| 50% AMI Income Limits Renters earning up to 50% of the Chicot County AMI may qualify for rental assistance programs that target Very Low Income households. |
$22,200 | $25,400 | $28,550 | $31,700 | $34,250 | $36,800 | $39,350 | $41,850 |
| 80% AMI Income Limits Renters earning up to 80% of the Chicot County AMI may qualify for rental assistance programs that target Low Income households. |
$35,500 | $40,600 | $45,650 | $50,700 | $54,800 | $58,850 | $62,900 | $66,950 |
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