Affordable Housing In Lincoln County
4 Low Income Apartment Communities In Lincoln County
Guide To Affordable Housing in Lincoln County, Colorado
There are 4 low income housing apartment communities offering 76 affordable apartments for rent in Lincoln County, Colorado.
Income Based Apartments in Lincoln County, Colorado
Lincoln County features 60 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 Lincoln County, Colorado
There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lincoln County.
Housing Choice Vouchers in Lincoln County, Colorado
On average, Section 8 Housing Choice vouchers pay Lincoln County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Lincoln County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lincoln County, Colorado for a two-bedroom apartment is between $896 and $1,095.
2023 Lincoln 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|
|Lincoln County, Colorado Fair Market Rent||$775||$780||$995||$1,245||$1,695|
|Lincoln County, Colorado Payment Standard Range||$698 to $853||$702 to $858||$896 to $1,095||$1,121 to $1,370||$1,526 to $1,865|
Sourced from federal housing data and AffordableHousingOnline.com research.
Lincoln County, CO Affordable Housing Snapshot
|Total Affordable Apartment Properties||4|
|Total Low Income Apartments||76|
|Total Housing Units with Rental Assistance||60|
|Percentage of Housing Units Occupied By Renters||34.23%|
|Average Renter Household Size||2.36|
|Average Household Size||2.24|
|Median Household Income||$39,005 ±$4,134|
|Median Rent||$705 ±$53|
|Percentage Of Renters Overburdened||42.51% ± 10.02pp|
Population and Household Demographics
Lincoln County is a county in Colorado with a population of 5,478. There are 1,677 households in the county with an average household size of 2.24 persons. 34.23% of households in Lincoln County are renters.
Income and Rent Overburden in Lincoln County
The median gross income for households in Lincoln County is $39,005 a year, or $3,250 a month. The median rent for the county is $705 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lincoln County, a household making less than $2,350 a month would be considered overburdened when renting an apartment at or above the median rent. 42.51% of households who rent are overburdened in Lincoln County.
Area Median Income In Lincoln 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 Lincoln County, HUD calculates the Area Median Income for a family of four as $77,900
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 Lincoln 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 Lincoln 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 Lincoln 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 Lincoln 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 Lincoln County AMI may qualify for rental assistance programs that target Low Income households.