Low Income Apartments In Albany
Alameda County, California

Low Income Apartments In Albany

There are 1 low income housing apartment complexes which contain 18 affordable apartments for rent in Albany, California. Many of these rental apartments are income based housing with about 0 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 0 Project-Based Section 8 subsidized apartments in Albany. There are 18 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Albany

Housing Authority	Programs
Housing Authority of the County of Alameda	Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Albany, California

Albany, CA Affordable Housing Snapshot

Total Affordable Apartment Properties	1
Total Low Income Apartments	18
Total Rent Assisted Apartments	0
Percentage of Housing Units Occupied By Renters	55.47%
Average Renter Household Size	2.52
Total Population	19,249
Housing Units	7,377
Average Household Size	2.60
Median Household Income	$79,596 ±$7,187
Median Rent	$1,627 ±$44
Percentage Of Renters Overburdened	54.79% ± 4.64pp

Population and Household Demographics

Albany is a City in Alameda County, California with a population of 19,249. There are 7,377 households in the city with an average household size of 2.60 persons. 55.47% of households in Albany are renters.

Income and Rent Overburden in Albany

The median gross income for households in Albany is $79,596 a year, or $6,633 a month. The median rent for the city is $1,627 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Albany, a household making less than $5,423 a month would be considered overburdened when renting an apartment at or above the median rent. 54.79% of households who rent are overburdened in Albany.¹

Area Median Income In Albany

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 Albany, the AMI is calculated from all households within Alameda County.

In Albany, HUD calculates the Area Median Income for a family of four as $111,700

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 Albany

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 Albany HUD Rental Assistance in Albany

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% of Median	$26,050	$29,750	$33,450	$37,150	$40,150	$43,100	$46,100	$49,050
50% of Median	$43,400	$49,600	$55,800	$61,950	$66,950	$71,900	$76,850	$81,800
80% of Median	$69,000	$78,850	$88,700	$98,550	$106,450	$114,350	$122,250	$130,100

Low Income Housing Tax Credits in Albany

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 2001 to 2001, 1 low income apartment communities containing 15 rental apartments have been constructed and made affordable to low income persons in Albany by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Albany

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
60% of Median	$52,080	$59,520	$66,960	$74,340	$80,340	$86,280	$92,220	$98,160

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Albany is $66,960 a year, or $5,580 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $5,580 by 30% to get a maximum rent of $1,674 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI	Studio	1 Bed	2 Bed	3 Bed	4 Bed	5 Bed
50%	$1,085	$1,163	$1,395	$1,611	$1,798	$1,983
60%	$1,302	$1,395	$1,674	$1,934	$2,157	$2,380

Fair Market Rents in Albany

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2019 Fair Market Rents

Studio	One BR	Two BR	Three BR	Four BR
$1,409	$1,706	$2,126	$2,925	$3,587