Public Housing Agencies Serving Fairfield Bay, 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 |
|---|---|
| White River Regional Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Fairfield Bay, Arkansas Affordable Housing Data
Income Based Apartments in Fairfield Bay, Arkansas
Fairfield Bay features 0 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 Fairfield Bay, Arkansas
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fairfield Bay.
Housing Choice Vouchers in Fairfield Bay, Arkansas
On average, Section 8 Housing Choice vouchers pay Fairfield Bay landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Fairfield Bay.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fairfield Bay, Arkansas for a two-bedroom apartment is between $788 and $964.
2024 Fairfield Bay, 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 | |
|---|---|---|---|---|---|
| Fairfield Bay, Arkansas Fair Market Rent | $650 | $667 | $876 | $1,089 | $1,167 |
| Fairfield Bay, Arkansas Payment Standard Range | $585 to $715 | $600 to $734 | $788 to $964 | $980 to $1,198 | $1,050 to $1,284 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Fairfield Bay, AR Affordable Housing Snapshot
| Total Affordable Apartment Properties | 0 |
|---|---|
| Total Low Income Apartments | 0 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 14.56% |
| Average Renter Household Size | 2.07 |
| Average Household Size | 2.06 |
| Median Household Income | $34,455 ±$4,733 |
| Median Rent | $862 ±$270 |
| Percentage Of Renters Overburdened | 74.7% ± NANpp |
| Total Population | 2,382 |
Population and Household Demographics
Fairfield Bay is a city in Cleburne County, Arkansas with a population of 2,382. There are 1,140 households in the city with an average household size of 2.06 persons. 14.56% of households in Fairfield Bay are renters.
Income and Rent Overburden in Fairfield Bay
The median gross income for households in Fairfield Bay is $34,455 a year, or $2,871 a month. The median rent for the city is $862 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Fairfield Bay, a household making less than $2,873 a month would be considered overburdened when renting an apartment at or above the median rent. 74.7% of households who rent are overburdened in Fairfield Bay.
Area Median Income In Fairfield Bay
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 Fairfield Bay, the AMI is calculated from all households within Cleburne County.
In Fairfield Bay, HUD calculates the Area Median Income for a family of four as $64,000
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 Fairfield Bay
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 Fairfield Bay
| 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 Fairfield Bay AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$14,580 | $19,720 | $24,860 | $30,000 | $34,600 | $37,150 | $39,700 | $42,250 |
| 50% AMI Income Limits Renters earning up to 50% of the Fairfield Bay AMI may qualify for rental assistance programs that target Very Low Income households. |
$22,400 | $25,600 | $28,800 | $32,000 | $34,600 | $37,150 | $39,700 | $42,250 |
| 80% AMI Income Limits Renters earning up to 80% of the Fairfield Bay AMI may qualify for rental assistance programs that target Low Income households. |
$35,850 | $41,000 | $46,100 | $51,200 | $55,300 | $59,400 | $63,500 | $67,600 |
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