Affordable Housing In Egypt
Etowah County, Alabama

Guide To Affordable Housing in Egypt, Alabama

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Egypt, Alabama.

Income Based Apartments in Egypt, Alabama

Egypt 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 Egypt, Alabama

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

Housing Choice Vouchers in Egypt, Alabama

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Egypt, Alabama for a two-bedroom apartment is between $692 and $846.

2023 Egypt, Alabama 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
Egypt, Alabama Fair Market Rent $514 $660 $769 $973 $1,033
Egypt, Alabama Payment Standard Range $463 to $565 $594 to $726 $692 to $846 $876 to $1,070 $930 to $1,136

Sourced from federal housing data and AffordableHousingOnline.com research.

Egypt, AL 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 14.62%
Average Renter Household Size 4.52
Average Household Size 3.27
Median Household Income $56,693 ±$8,972
Median Rent $0 ±$0
Percentage Of Renters Overburdened 0% ± 39.29pp
Total Population 1,254

Population and Household Demographics

Egypt is a city in Etowah County, Alabama with a population of 1,254. There are 383 households in the city with an average household size of 3.27 persons. 14.62% of households in Egypt are renters.

Income and Rent Overburden in Egypt

The median gross income for households in Egypt is $56,693 a year, or $4,724 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Egypt, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in Egypt.

Area Median Income In Egypt

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 Egypt, the AMI is calculated from all households within Etowah County.

In Egypt, HUD calculates the Area Median Income for a family of four as $59,700

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 Egypt

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 Egypt

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 Egypt AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,590 $18,310 $23,030 $27,750 $32,470 $36,700 $39,200 $41,750
50% AMI Income Limits
Renters earning up to 50% of the Egypt AMI may qualify for rental assistance programs that target Very Low Income households.
$22,150 $25,300 $28,450 $31,600 $34,150 $36,700 $39,200 $41,750
80% AMI Income Limits
Renters earning up to 80% of the Egypt AMI may qualify for rental assistance programs that target Low Income households.
$35,400 $40,450 $45,500 $50,550 $54,600 $58,650 $62,700 $66,750