Affordable Housing In Underwood Petersville
Lauderdale County, Alabama

Guide To Affordable Housing in Underwood Petersville, Alabama

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

Income Based Apartments in Underwood Petersville, Alabama

Underwood Petersville 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 Underwood Petersville, Alabama

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

Housing Choice Vouchers in Underwood Petersville, Alabama

On average, Section 8 Housing Choice vouchers pay Underwood Petersville landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Underwood Petersville.

The maximum amount a voucher would pay on behalf of a low-income tenant in Underwood Petersville, Alabama for a two-bedroom apartment is between $730 and $892.

2023 Underwood Petersville, 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
Underwood Petersville, Alabama Fair Market Rent $574 $617 $811 $1,000 $1,249
Underwood Petersville, Alabama Payment Standard Range $517 to $631 $555 to $679 $730 to $892 $900 to $1,100 $1,124 to $1,374

Sourced from federal housing data and AffordableHousingOnline.com research.

Underwood Petersville, 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 39.22%
Average Renter Household Size 2.23
Average Household Size 2.30
Median Household Income $39,874 ±$8,454
Median Rent $697 ±$97
Percentage Of Renters Overburdened 42.96% ± 18.95pp
Total Population 3,425

Population and Household Demographics

Underwood Petersville is a city in Lauderdale County, Alabama with a population of 3,425. There are 1,484 households in the city with an average household size of 2.30 persons. 39.22% of households in Underwood Petersville are renters.

Income and Rent Overburden in Underwood Petersville

The median gross income for households in Underwood Petersville is $39,874 a year, or $3,323 a month. The median rent for the city is $697 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Underwood Petersville, a household making less than $2,323 a month would be considered overburdened when renting an apartment at or above the median rent. 42.96% of households who rent are overburdened in Underwood Petersville.

Area Median Income In Underwood Petersville

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 Underwood Petersville, the AMI is calculated from all households within Lauderdale County.

In Underwood Petersville, 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 Underwood Petersville

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 Underwood Petersville

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 Underwood Petersville AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,350 $18,310 $23,030 $27,750 $32,470 $37,190 $41,910 $45,050
50% AMI Income Limits
Renters earning up to 50% of the Underwood Petersville AMI may qualify for rental assistance programs that target Very Low Income households.
$23,900 $27,300 $30,700 $34,100 $36,850 $39,600 $42,300 $45,050
80% AMI Income Limits
Renters earning up to 80% of the Underwood Petersville AMI may qualify for rental assistance programs that target Low Income households.
$38,200 $43,650 $49,100 $54,550 $58,950 $63,300 $67,650 $72,050