Cheap Apartments In Stamford
Fairfield County,Connecticut

Metro Green Residential

717 Atlantic Street
Stamford, CT
1-2 BR

Park Square West

101 Summer St
Stamford, CT
Studio-3 BR
HCV Welcome

Shippan Place

521 Shippan Avenue
Stamford, CT
1 BR

Eleanor Roosevelt Apartments

18 Knapp St
Stamford, CT

Bayview Towers

Stamford, CT
1-2 BR

There are 42 low income housing apartment complexes which contain 3,779 affordable apartments for rent in Stamford, Connecticut. Many of these rental apartments are income based housing with about 2,047 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 1,196 Project-Based Section 8 subsidized apartments in Stamford. There are 1,901 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

Housing Authorities that serve Stamford

The Charter Oaks Communities is a Section 8 and Public Housing public housing agency in Stamford, Connecticut.

Understanding Affordable Housing in Stamford, Connecticut

Area Median Income In Stamford

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 Stamford, the AMI is calculated from all households within Fairfield County.

In Stamford, HUD calculates the Area Median Income for a family of four as $116,300

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 Stamford

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 Stamford HUD Rental Assistance in Stamford

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

Low Income Housing Tax Credits in Stamford

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1990 to 2010, 17 low income apartment communities containing 1,699 rental apartments have been constructed and made affordable to low income persons in Stamford by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Stamford by looking for the tag in the apartment list above. View Apartments.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Stamford

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person
HERA 50%$50,000$57,150$64,300$71,400$77,150$82,850$88,550$94,250
HERA 60%$60,000$68,580$77,160$85,680$92,580$99,420$106,260$113,100

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Stamford is $62,820 a year, or $5,235 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $5,235 by 30% to get a maximum rent of $1,571 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMIStudio1 Bed2 Bed3 Bed4 Bed5 Bed
Fair Market Rents in Stamford

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2018 Fair Market Rents
StudioOne BRTwo BRThree BRFour BR