Affordable Housing In Elkmont
Limestone County, Alabama

1 Low Income Apartment Communities In Elkmont

Greenridge Apartments

25600 Smithfield Rd
Elkmont, Alabama
Subsidized
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Guide To Affordable Housing in Elkmont, Alabama

There are 1 low income housing apartment communities offering 24 affordable apartments for rent in Elkmont, Alabama.

Income Based Apartments in Elkmont, Alabama

Elkmont features 24 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 Elkmont, Alabama

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

Housing Choice Vouchers in Elkmont, Alabama

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Elkmont, Alabama for a two-bedroom apartment is between $926 and $1,132.

2023 Elkmont, 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
Elkmont, Alabama Fair Market Rent $737 $872 $1,029 $1,354 $1,612
Elkmont, Alabama Payment Standard Range $663 to $811 $785 to $959 $926 to $1,132 $1,219 to $1,489 $1,451 to $1,773

Sourced from federal housing data and AffordableHousingOnline.com research.

Elkmont, AL Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 24
Total Housing Units with Rental Assistance 24
Percentage of Housing Units Occupied By Renters 25.27%
Average Renter Household Size 2.26
Average Household Size 2.36
Median Household Income $39,583 ±$17,432
Median Rent $425 ±$357
Percentage Of Renters Overburdened 21.74% ± 30.05pp
Total Population 430

Population and Household Demographics

Elkmont is a city in Limestone County, Alabama with a population of 430. There are 182 households in the city with an average household size of 2.36 persons. 25.27% of households in Elkmont are renters.

Income and Rent Overburden in Elkmont

The median gross income for households in Elkmont is $39,583 a year, or $3,299 a month. The median rent for the city is $425 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Elkmont, a household making less than $1,417 a month would be considered overburdened when renting an apartment at or above the median rent. 21.74% of households who rent are overburdened in Elkmont.

Area Median Income In Elkmont

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 Elkmont, the AMI is calculated from all households within Limestone County.

In Elkmont, HUD calculates the Area Median Income for a family of four as $92,700

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 Elkmont

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 Elkmont

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 Elkmont AMI may qualify for rental assistance programs that target Extremely Low Income households.
$19,500 $22,250 $25,050 $27,800 $32,470 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Elkmont AMI may qualify for rental assistance programs that target Very Low Income households.
$32,450 $37,100 $41,750 $46,350 $50,100 $53,800 $57,500 $61,200
80% AMI Income Limits
Renters earning up to 80% of the Elkmont AMI may qualify for rental assistance programs that target Low Income households.
$51,950 $59,350 $66,750 $74,150 $80,100 $86,050 $91,950 $97,900