Affordable Housing In Rancho Palos Verdes
Los Angeles County,
Waiting List Openings In Rancho Palos Verdes
|Los Angeles County Development Authority Senior Public Housing||Open Now|
1 Low Income Apartment Communities In Rancho Palos Verdes
Housing Authorities that serve Rancho Palos Verdes
|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 Rancho Palos Verdes, California
There are 1 low income housing apartment communities offering 34 affordable apartments for rent in Rancho Palos Verdes, California.
Income Based Apartments in Rancho Palos Verdes, California
Rancho Palos Verdes 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 Rancho Palos Verdes, California
There are 34 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rancho Palos Verdes.
Housing Choice Vouchers in Rancho Palos Verdes, California
On average, Section 8 Housing Choice vouchers pay Rancho Palos Verdes landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Rancho Palos Verdes.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rancho Palos Verdes, California for a two-bedroom apartment is between $1,852 and $2,264.
2021 Rancho Palos Verdes, 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|
|Rancho Palos Verdes, California Fair Market Rent||$1,369||$1,605||$2,058||$2,735||$2,982|
|Rancho Palos Verdes, 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.
Rancho Palos Verdes, CA Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||34|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||19.71%|
|Average Renter Household Size||2.55|
|Average Household Size||2.65|
|Median Household Income||$118,780 ±$6,629|
|Median Rent||$2,244 ±$214|
|Percentage Of Renters Overburdened||52.21% ± 6.99pp|
Population and Household Demographics
Rancho Palos Verdes is a city in Los Angeles County, California with a population of 42,464. There are 15,820 households in the city with an average household size of 2.65 persons. 19.71% of households in Rancho Palos Verdes are renters.
Income and Rent Overburden in Rancho Palos Verdes
The median gross income for households in Rancho Palos Verdes is $118,780 a year, or $9,898 a month. The median rent for the city is $2,244 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rancho Palos Verdes, a household making less than $7,480 a month would be considered overburdened when renting an apartment at or above the median rent. 52.21% of households who rent are overburdened in Rancho Palos Verdes.
Area Median Income In Rancho Palos Verdes
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 Rancho Palos Verdes, the AMI is calculated from all households within Los Angeles County.
In Rancho Palos Verdes, 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 Rancho Palos Verdes
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 Rancho Palos Verdes
|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 Rancho Palos Verdes AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Rancho Palos Verdes AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Rancho Palos Verdes AMI may qualify for rental assistance programs that target Low Income households.