Affordable Housing In Rancho Santa Margarita
Housing Authorities that serve Rancho Santa Margarita
|Orange County Housing Authority||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Rancho Santa Margarita, California
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Rancho Santa Margarita, California.
Income Based Apartments in Rancho Santa Margarita, California
Rancho Santa Margarita 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 Santa Margarita, California
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rancho Santa Margarita.
Housing Choice Vouchers in Rancho Santa Margarita, California
On average, Section 8 Housing Choice vouchers pay Rancho Santa Margarita landlords $1,400 per month towards rent. The average voucher holder contributes $400 towards rent in Rancho Santa Margarita.
The maximum amount a voucher would pay on behalf of a low-income tenant in Rancho Santa Margarita, California for a two-bedroom apartment is between $2,098 and $2,564.
2021 Rancho Santa Margarita, 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 Santa Margarita, California Fair Market Rent||$1,678||$1,888||$2,331||$3,227||$3,716|
|Rancho Santa Margarita, California Payment Standard Range||$1,510 to $1,846||$1,699 to $2,077||$2,098 to $2,564||$2,904 to $3,550||$3,344 to $4,088|
Sourced from federal housing data and AffordableHousingOnline.com research.
Rancho Santa Margarita, 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||28.86%|
|Average Renter Household Size||2.66|
|Average Household Size||2.89|
|Median Household Income||$105,328 ±$5,516|
|Median Rent||$1,706 ±$55|
|Percentage Of Renters Overburdened||54.67% ± 6.71pp|
Population and Household Demographics
Rancho Santa Margarita is a city in Orange County, California with a population of 49,026. There are 16,980 households in the city with an average household size of 2.89 persons. 28.86% of households in Rancho Santa Margarita are renters.
Income and Rent Overburden in Rancho Santa Margarita
The median gross income for households in Rancho Santa Margarita is $105,328 a year, or $8,777 a month. The median rent for the city is $1,706 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Rancho Santa Margarita, a household making less than $5,687 a month would be considered overburdened when renting an apartment at or above the median rent. 54.67% of households who rent are overburdened in Rancho Santa Margarita.
Area Median Income In Rancho Santa Margarita
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 Santa Margarita, the AMI is calculated from all households within Orange County.
In Rancho Santa Margarita, HUD calculates the Area Median Income for a family of four as $106,700
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 Rancho Santa Margarita
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 Santa Margarita
|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 Santa Margarita 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 Santa Margarita 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 Santa Margarita AMI may qualify for rental assistance programs that target Low Income households.