Affordable Housing In Palos Verdes Estates
Los Angeles County,
California
Waiting List Openings In Palos Verdes Estates
| Waiting List | Status |
|---|---|
| Los Angeles County Development Authority Senior Public Housing | Open Now |
Housing Authorities that serve Palos Verdes Estates
| Housing Authority | Programs |
|---|---|
| Los Angeles County Development Authority | Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Section 8 Project-Based Voucher (PBV); Moderate Rehabilitation |
Guide To Affordable Housing in Palos Verdes Estates, California
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Palos Verdes Estates, California.
Income Based Apartments in Palos Verdes Estates, California
Palos Verdes Estates 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 Palos Verdes Estates, California
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Palos Verdes Estates.
Housing Choice Vouchers in Palos Verdes Estates, California
On average, Section 8 Housing Choice vouchers pay Palos Verdes Estates landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Palos Verdes Estates.
The maximum amount a voucher would pay on behalf of a low-income tenant in Palos Verdes Estates, California for a two-bedroom apartment is between $1,852 and $2,264.
2021 Palos Verdes Estates, 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 | |
|---|---|---|---|---|---|
| Palos Verdes Estates, California Fair Market Rent | $1,369 | $1,605 | $2,058 | $2,735 | $2,982 |
| Palos Verdes Estates, California Payment Standard Range | $1,232 to $1,506 | $1,445 to $1,766 | $1,852 to $2,264 | $2,462 to $3,009 | $2,684 to $3,280 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Palos Verdes Estates, 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 | 12.2% |
| Average Renter Household Size | 3.13 |
| Average Household Size | 2.82 |
| Median Household Income | $174,500 ±$22,519 |
| Median Rent | $2,498 ±$602 |
| Percentage Of Renters Overburdened | 37.69% ± 10.81pp |
| Total Population | 13,614 |
Population and Household Demographics
Palos Verdes Estates is a city in Los Angeles County, California with a population of 13,614. There are 4,826 households in the city with an average household size of 2.82 persons. 12.2% of households in Palos Verdes Estates are renters.
Income and Rent Overburden in Palos Verdes Estates
The median gross income for households in Palos Verdes Estates is $174,500 a year, or $14,542 a month. The median rent for the city is $2,498 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Palos Verdes Estates, a household making less than $8,327 a month would be considered overburdened when renting an apartment at or above the median rent. 37.69% of households who rent are overburdened in Palos Verdes Estates.
Area Median Income In Palos Verdes Estates
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 Palos Verdes Estates, the AMI is calculated from all households within Los Angeles County.
In Palos Verdes Estates, HUD calculates the Area Median Income for a family of four as $77,300
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 Palos Verdes Estates
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 Palos Verdes Estates
| 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 Palos Verdes Estates AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$23,700 | $27,050 | $30,450 | $33,800 | $36,550 | $39,250 | $41,950 | $44,650 |
| 50% AMI Income Limits Renters earning up to 50% of the Palos Verdes Estates AMI may qualify for rental assistance programs that target Very Low Income households. |
$39,450 | $45,050 | $50,700 | $56,300 | $60,850 | $65,350 | $69,850 | $74,350 |
| 80% AMI Income Limits Renters earning up to 80% of the Palos Verdes Estates AMI may qualify for rental assistance programs that target Low Income households. |
$63,100 | $72,100 | $81,100 | $90,100 | $97,350 | $104,550 | $111,750 | $118,950 |
