Bay Apartments
There are 585 low-income apartments in Craighead County that offer reduced rents to eligible households. Low-income rents in Craighead County, Arkansas can range from $614 to $660 depending on the number of bedrooms.
Rental assistance programs support 667 low-income homes in Craighead County where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $273 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.
Public Housing Agencies Serving Craighead 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 |
|---|---|
| Jonesboro Urban Renewal and Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Craighead County, Arkansas Affordable Housing Data
Income Based Apartments in Craighead County, Arkansas
Craighead County features 667 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 Craighead County, Arkansas
There are 585 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Craighead County.
Housing Choice Vouchers in Craighead County, Arkansas
On average, Section 8 Housing Choice vouchers pay Craighead County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Craighead County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Craighead County, Arkansas for a two-bedroom apartment is between $842 and $1,030.
2024 Craighead 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 | |
|---|---|---|---|---|---|
| Craighead County, Arkansas Fair Market Rent | $634 | $767 | $936 | $1,226 | $1,560 |
| Craighead County, Arkansas Payment Standard Range | $571 to $697 | $690 to $844 | $842 to $1,030 | $1,103 to $1,349 | $1,404 to $1,716 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Craighead County, AR Affordable Housing Snapshot
| Total Affordable Apartment Properties | 44 |
|---|---|
| Total Low Income Apartments | 1,270 |
| Total Housing Units with Rental Assistance | 667 |
| Percentage of Housing Units Occupied By Renters | 40.9% |
| Average Renter Household Size | 2.49 |
| Average Household Size | 2.52 |
| Median Household Income | $42,475 ±$1,586 |
| Median Rent | $681 ±$24 |
| Percentage Of Renters Overburdened | 46.04% ± 3.17pp |
| Total Population | 101,409 |
Population and Household Demographics
Craighead County is a county in Arkansas with a population of 101,409. There are 38,724 households in the county with an average household size of 2.52 persons. 40.9% of households in Craighead County are renters.
Income and Rent Overburden in Craighead County
The median gross income for households in Craighead County is $42,475 a year, or $3,540 a month. The median rent for the county is $681 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Craighead County, a household making less than $2,270 a month would be considered overburdened when renting an apartment at or above the median rent. 46.04% of households who rent are overburdened in Craighead County.
Area Median Income In Craighead 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 Craighead County, HUD calculates the Area Median Income for a family of four as $76,800
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 Craighead 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 Craighead 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 Craighead County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,700 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $43,300 | $46,100 |
| 50% AMI Income Limits Renters earning up to 50% of the Craighead County AMI may qualify for rental assistance programs that target Very Low Income households. |
$24,450 | $27,950 | $31,450 | $34,900 | $37,700 | $40,500 | $43,300 | $46,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Craighead County AMI may qualify for rental assistance programs that target Low Income households. |
$39,100 | $44,650 | $50,250 | $55,800 | $60,300 | $64,750 | $69,200 | $73,700 |
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