Affordable Housing In Hinsdale County
Guide To Affordable Housing in Hinsdale County, Colorado
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Hinsdale County, Colorado.
Income Based Apartments in Hinsdale County, Colorado
Hinsdale County 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 Hinsdale County, Colorado
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hinsdale County.
Housing Choice Vouchers in Hinsdale County, Colorado
On average, Section 8 Housing Choice vouchers pay Hinsdale County landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Hinsdale County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hinsdale County, Colorado for a two-bedroom apartment is between $839 and $1,025.
2022 Hinsdale County, 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|
|Hinsdale County, Colorado Fair Market Rent||$791||$818||$932||$1,244||$1,497|
|Hinsdale County, Colorado Payment Standard Range||$712 to $870||$736 to $900||$839 to $1,025||$1,120 to $1,368||$1,347 to $1,647|
Sourced from federal housing data and AffordableHousingOnline.com research.
Hinsdale County, 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||23.93%|
|Average Renter Household Size||2.41|
|Average Household Size||2.18|
|Median Household Income||$57,083 ±$6,141|
|Median Rent||$692 ±$138|
|Percentage Of Renters Overburdened||33.68% ± 16.2pp|
Population and Household Demographics
Hinsdale County is a county in Colorado with a population of 874. There are 397 households in the county with an average household size of 2.18 persons. 23.93% of households in Hinsdale County are renters.
Income and Rent Overburden in Hinsdale County
The median gross income for households in Hinsdale County is $57,083 a year, or $4,757 a month. The median rent for the county is $692 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hinsdale County, a household making less than $2,307 a month would be considered overburdened when renting an apartment at or above the median rent. 33.68% of households who rent are overburdened in Hinsdale County.
Area Median Income In Hinsdale County
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.
In Hinsdale County, HUD calculates the Area Median Income for a family of four as $65,500
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 Hinsdale County
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 Hinsdale County
|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 Hinsdale County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Hinsdale County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Hinsdale County AMI may qualify for rental assistance programs that target Low Income households.