Affordable Housing In Dove Valley
Housing Authorities that serve Dove Valley
|South Metro Housing Options||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Dove Valley, Colorado
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Dove Valley, Colorado.
Income Based Apartments in Dove Valley, Colorado
Dove Valley 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 Dove Valley, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Dove Valley.
Housing Choice Vouchers in Dove Valley, Colorado
On average, Section 8 Housing Choice vouchers pay Dove Valley landlords $1,000 per month towards rent. The average voucher holder contributes $400 towards rent in Dove Valley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Dove Valley, Colorado for a two-bedroom apartment is between $1,445 and $1,766.
2021 Dove Valley, Colorado 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|
|Dove Valley, Colorado Fair Market Rent||$1,179||$1,304||$1,605||$2,186||$2,486|
|Dove Valley, Colorado Payment Standard Range||$1,061 to $1,297||$1,174 to $1,434||$1,445 to $1,766||$1,967 to $2,405||$2,237 to $2,735|
Sourced from federal housing data and AffordableHousingOnline.com research.
Dove Valley, CO 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||54.16%|
|Average Renter Household Size||2.51|
|Average Household Size||2.49|
|Median Household Income||$64,416 ±$14,362|
|Median Rent||$1,288 ±$63|
|Percentage Of Renters Overburdened||49.08% ± 18.03pp|
Population and Household Demographics
Dove Valley is a city in Arapahoe County, Colorado with a population of 5,600. There are 2,212 households in the city with an average household size of 2.49 persons. 54.16% of households in Dove Valley are renters.
Income and Rent Overburden in Dove Valley
The median gross income for households in Dove Valley is $64,416 a year, or $5,368 a month. The median rent for the city is $1,288 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Dove Valley, a household making less than $4,293 a month would be considered overburdened when renting an apartment at or above the median rent. 49.08% of households who rent are overburdened in Dove Valley.
Area Median Income In Dove Valley
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 Dove Valley, the AMI is calculated from all households within Arapahoe County.
In Dove Valley, HUD calculates the Area Median Income for a family of four as $104,800
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 Dove Valley
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 Dove Valley
|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 Dove Valley AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Dove Valley AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Dove Valley AMI may qualify for rental assistance programs that target Low Income households.