Affordable Housing In Sierra Madre
Los Angeles County,
1 Low Income Apartment Communities In Sierra Madre
Housing Authorities that serve Sierra Madre
|Los Angeles County Development Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Sierra Madre, California
There are 1 low income housing apartment communities offering 45 affordable apartments for rent in Sierra Madre, California.
Income Based Apartments in Sierra Madre, California
Sierra Madre 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 Sierra Madre, California
There are 45 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sierra Madre.
Housing Choice Vouchers in Sierra Madre, California
On average, Section 8 Housing Choice vouchers pay Sierra Madre landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Sierra Madre.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sierra Madre, California for a two-bedroom apartment is between $1,760 and $2,152.
2020 Sierra Madre, 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||$1,279||$1,517||$1,956||$2,614||$2,857|
|Payment Standard Range||$1,151 to $1,407||$1,365 to $1,669||$1,760 to $2,152||$2,353 to $2,875||$2,571 to $3,143|
Sourced from federal housing data and AffordableHousingOnline.com research.
Sierra Madre, CA Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||45|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||39.95%|
|Average Renter Household Size||1.99|
|Average Household Size||2.44|
|Median Household Income||$92,384 ±$8,057|
|Median Rent||$1,478 ±$123|
|Percentage Of Renters Overburdened||35.91% ± 8.02pp|
Population and Household Demographics
Sierra Madre is a City in Los Angeles County, California with a population of 11,084. There are 4,538 households in the city with an average household size of 2.44 persons. 39.95% of households in Sierra Madre are renters.
Income and Rent Overburden in Sierra Madre
The median gross income for households in Sierra Madre is $92,384 a year, or $7,699 a month. The median rent for the city is $1,478 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sierra Madre, a household making less than $4,927 a month would be considered overburdened when renting an apartment at or above the median rent. 35.91% of households who rent are overburdened in Sierra Madre.1
Area Median Income In Sierra Madre
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 Sierra Madre, the AMI is calculated from all households within Los Angeles County.
In Sierra Madre, HUD calculates the Area Median Income for a family of four as $73,100
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 Sierra Madre
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 Sierra Madre HUD Rental Assistance in Sierra Madre
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$21,950||$25,050||$28,200||$31,300||$33,850||$36,350||$39,010||$43,430|
|50% of Median||$36,550||$41,800||$47,000||$52,200||$56,400||$60,600||$64,750||$68,950|
|80% of Median||$58,450||$66,800||$75,150||$83,500||$90,200||$96,900||$103,550||$110,250|