Affordable Housing In Muscle Shoals
1 Low Income Apartment Communities In Muscle Shoals
Guide To Affordable Housing in Muscle Shoals, Alabama
There are 1 low income housing apartment communities offering 60 affordable apartments for rent in Muscle Shoals, Alabama.
Income Based Apartments in Muscle Shoals, Alabama
Muscle Shoals features 60 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 Muscle Shoals, Alabama
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Muscle Shoals.
Housing Choice Vouchers in Muscle Shoals, Alabama
On average, Section 8 Housing Choice vouchers pay Muscle Shoals landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Muscle Shoals.
The maximum amount a voucher would pay on behalf of a low-income tenant in Muscle Shoals, Alabama for a two-bedroom apartment is between $676 and $826.
2022 Muscle Shoals, 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|
|Muscle Shoals, Alabama Fair Market Rent||$525||$575||$751||$935||$1,173|
|Muscle Shoals, Alabama Payment Standard Range||$473 to $578||$518 to $633||$676 to $826||$842 to $1,029||$1,056 to $1,290|
Sourced from federal housing data and AffordableHousingOnline.com research.
Muscle Shoals, AL Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||60|
|Total Housing Units with Rental Assistance||60|
|Percentage of Housing Units Occupied By Renters||24.15%|
|Average Renter Household Size||2.10|
|Average Household Size||2.43|
|Median Household Income||$48,896 ±$6,631|
|Median Rent||$643 ±$74|
|Percentage Of Renters Overburdened||45.25% ± 14.32pp|
Population and Household Demographics
Muscle Shoals is a city in Colbert County, Alabama with a population of 13,492. There are 5,490 households in the city with an average household size of 2.43 persons. 24.15% of households in Muscle Shoals are renters.
Income and Rent Overburden in Muscle Shoals
The median gross income for households in Muscle Shoals is $48,896 a year, or $4,075 a month. The median rent for the city is $643 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Muscle Shoals, a household making less than $2,143 a month would be considered overburdened when renting an apartment at or above the median rent. 45.25% of households who rent are overburdened in Muscle Shoals.
Area Median Income In Muscle Shoals
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 Muscle Shoals, the AMI is calculated from all households within Colbert County.
In Muscle Shoals, HUD calculates the Area Median Income for a family of four as $68,200
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 Muscle Shoals
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 Muscle Shoals
|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 Muscle Shoals AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Muscle Shoals AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Muscle Shoals AMI may qualify for rental assistance programs that target Low Income households.