Affordable Housing In Monte Sereno
Santa Clara County,
Housing Authorities that serve Monte Sereno
|San Jose City Housing Authority||Section 8 Housing Choice Voucher (HCV)|
|Santa Clara County Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Moving to Work|
Guide To Affordable Housing in Monte Sereno, California
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Monte Sereno, California.
Income Based Apartments in Monte Sereno, California
Monte Sereno 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 Monte Sereno, California
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Monte Sereno.
Housing Choice Vouchers in Monte Sereno, California
On average, Section 8 Housing Choice vouchers pay Monte Sereno landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Monte Sereno.
The maximum amount a voucher would pay on behalf of a low-income tenant in Monte Sereno, California for a two-bedroom apartment is between $2,673 and $3,267.
2020 Monte Sereno, California 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||$2,103||$2,458||$2,970||$3,943||$4,525|
|Payment Standard Range||$1,893 to $2,313||$2,212 to $2,704||$2,673 to $3,267||$3,549 to $4,337||$4,073 to $4,978|
Sourced from federal housing data and AffordableHousingOnline.com research.
Monte Sereno, CA 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||12.1%|
|Average Renter Household Size||2.20|
|Average Household Size||2.70|
|Median Household Income||$193,482 ±$36,819|
|Median Rent||$2,345 ±$259|
|Percentage Of Renters Overburdened||15.92% ± 19.67pp|
Population and Household Demographics
Monte Sereno is a city in Santa Clara County, California with a population of 3,508. There are 1,297 households in the city with an average household size of 2.70 persons. 12.1% of households in Monte Sereno are renters.
Income and Rent Overburden in Monte Sereno
The median gross income for households in Monte Sereno is $193,482 a year, or $16,124 a month. The median rent for the city is $2,345 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Monte Sereno, a household making less than $7,817 a month would be considered overburdened when renting an apartment at or above the median rent. 15.92% of households who rent are overburdened in Monte Sereno.
Area Median Income In Monte Sereno
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 Monte Sereno, the AMI is calculated from all households within Santa Clara County.
In Monte Sereno, HUD calculates the Area Median Income for a family of four as $141,600
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 Monte Sereno
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 Monte Sereno
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$33,150||$37,900||$42,650||$47,350||$51,150||$54,950||$58,750||$62,550|
|50% of Median||$55,300||$63,200||$71,100||$78,950||$85,300||$91,600||$97,900||$104,250|
|80% of Median||$78,550||$89,750||$100,950||$112,150||$121,150||$130,100||$139,100||$148,050|