Affordable Housing In Bay County
23 Low Income Apartment Communities In Bay County
Guide To Affordable Housing in Bay County, Florida
There are 23 low income housing apartment communities offering 2,457 affordable apartments for rent in Bay County, Florida.
Income Based Apartments in Bay County, Florida
Bay County features 1,379 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 Bay County, Florida
There are 1,078 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bay County.
Housing Choice Vouchers in Bay County, Florida
On average, Section 8 Housing Choice vouchers pay Bay County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Bay County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bay County, Florida for a two-bedroom apartment is between $845 and $1,033.
2020 Bay County, Florida 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||$735||$805||$939||$1,318||$1,480|
|Payment Standard Range||$662 to $809||$725 to $886||$845 to $1,033||$1,186 to $1,450||$1,332 to $1,628|
Sourced from federal housing data and AffordableHousingOnline.com research.
Bay County, FL Affordable Housing Snapshot
|Total Affordable Apartment Properties||23|
|Total Low Income Apartments||2,457|
|Total Housing Units with Rental Assistance||1,379|
|Percentage of Housing Units Occupied By Renters||38.55%|
|Average Renter Household Size||2.57|
|Average Household Size||2.54|
|Median Household Income||$47,368 ±$1,318|
|Median Rent||$922 ±$21|
|Percentage Of Renters Overburdened||49.45% ± 2.92pp|
Population and Household Demographics
Bay County is a county in Florida with a population of 175,353. There are 67,922 households in the county with an average household size of 2.54 persons. 38.55% of households in Bay County are renters.
Income and Rent Overburden in Bay County
The median gross income for households in Bay County is $47,368 a year, or $3,947 a month. The median rent for the county is $922 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bay County, a household making less than $3,073 a month would be considered overburdened when renting an apartment at or above the median rent. 49.45% of households who rent are overburdened in Bay County.
Area Median Income In Bay 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 Bay County, HUD calculates the Area Median Income for a family of four as $72,000
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 Bay 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 Bay County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$14,600||$17,240||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$24,300||$27,800||$31,250||$34,700||$37,500||$40,300||$43,050||$45,850|
|80% of Median||$38,850||$44,400||$49,950||$55,500||$59,950||$64,400||$68,850||$73,300|
Cities In Bay County
Select A City to View its Apartment Communities and Waiting Lists.
|Lower Grand Lagoon|
|Panama City||The HUD funded Public Housing Agency that serves Panama City is the Panama City Housing Authority.|
|Panama City Beach|
|Springfield||The HUD funded Public Housing Agency that serves Springfield is the Housing Authority of Springfield.|
|Upper Grand Lagoon|