Affordable Housing In West Memphis
20 Low Income Apartment Communities In West Memphis
Housing Authorities that serve West Memphis
|West Memphis Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Other Housing Authorities located in West Memphis
|Earle Housing Authority||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in West Memphis, Arkansas
There are 20 low income housing apartment communities offering 1,658 affordable apartments for rent in West Memphis, Arkansas.
Income Based Apartments in West Memphis, Arkansas
West Memphis features 624 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 West Memphis, Arkansas
There are 970 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in West Memphis.
Housing Choice Vouchers in West Memphis, Arkansas
On average, Section 8 Housing Choice vouchers pay West Memphis landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in West Memphis.
The maximum amount a voucher would pay on behalf of a low-income tenant in West Memphis, Arkansas for a two-bedroom apartment is between $796 and $972.
2020 West Memphis, 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|
|Fair Market Rent||$665||$755||$884||$1,203||$1,374|
|Payment Standard Range||$599 to $732||$680 to $831||$796 to $972||$1,083 to $1,323||$1,237 to $1,511|
Sourced from federal housing data and AffordableHousingOnline.com research.
West Memphis, AR Affordable Housing Snapshot
|Total Affordable Apartment Properties||20|
|Total Low Income Apartments||1,658|
|Total Housing Units with Rental Assistance||624|
|Percentage of Housing Units Occupied By Renters||51.09%|
|Average Renter Household Size||2.67|
|Average Household Size||2.57|
|Median Household Income||$30,627 ±$1,454|
|Median Rent||$681 ±$24|
|Percentage Of Renters Overburdened||54.42% ± 5.85pp|
Population and Household Demographics
West Memphis is a City in Crittenden County, Arkansas with a population of 25,544. There are 9,704 households in the city with an average household size of 2.57 persons. 51.09% of households in West Memphis are renters.
Income and Rent Overburden in West Memphis
The median gross income for households in West Memphis is $30,627 a year, or $2,552 a month. The median rent for the city is $681 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In West Memphis, a household making less than $2,270 a month would be considered overburdened when renting an apartment at or above the median rent. 54.42% of households who rent are overburdened in West Memphis.1
Area Median Income In West Memphis
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 West Memphis, the AMI is calculated from all households within Crittenden County.
In West Memphis, HUD calculates the Area Median Income for a family of four as $65,900
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 West Memphis
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 West Memphis
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$13,850||$16,910||$21,330||$25,750||$30,170||$34,590||$39,010||$43,430|
|50% of Median||$23,100||$26,400||$29,700||$32,950||$35,600||$38,250||$40,900||$43,500|
|80% of Median||$36,900||$42,200||$47,450||$52,700||$56,950||$61,150||$65,350||$69,600|