Affordable Housing In Daytona Beach
Volusia County,
Florida
24 Low Income Apartment Communities In Daytona Beach
Ahepa 410, Inc
Central Manor Apartments
Casa San Pablo
Worc Haven, Adult Congregate Living Facility
Housing Authorities that serve Daytona Beach
| Housing Authority | Programs |
|---|---|
| Daytona Beach Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| New Smyrna Beach Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| Ormond Beach Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Guide To Affordable Housing in Daytona Beach, Florida
There are 24 low income housing apartment communities offering 3,079 affordable apartments for rent in Daytona Beach, Florida. Daytona Beach features 1,605 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 1,474 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Daytona Beach.
Sourced from federal housing data and AffordableHousingOnline.com research.
Daytona Beach, FL Affordable Housing Snapshot
| Total Affordable Apartment Properties | 24 |
|---|---|
| Total Low Income Apartments | 3,079 |
| Total Housing Units with Rental Assistance | 1,605 |
| Percentage of Housing Units Occupied By Renters | 55.41% |
| Average Renter Household Size | 2.19 |
| Average Household Size | 2.20 |
| Median Household Income | $27,901 ±$1,591 |
| Median Rent | $761 ±$18 |
| Percentage Of Renters Overburdened | 56.87% ± 4.21pp |
| Total Population | 62,726 |
Population and Household Demographics
Daytona Beach is a City in Volusia County, Florida with a population of 62,726. There are 26,998 households in the city with an average household size of 2.20 persons. 55.41% of households in Daytona Beach are renters.
Income and Rent Overburden in Daytona Beach
The median gross income for households in Daytona Beach is $27,901 a year, or $2,325 a month. The median rent for the city is $761 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Daytona Beach, a household making less than $2,537 a month would be considered overburdened when renting an apartment at or above the median rent. 56.87% of households who rent are overburdened in Daytona Beach.1
Area Median Income In Daytona Beach
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 Daytona Beach, the AMI is calculated from all households within Volusia County.
In Daytona Beach, HUD calculates the Area Median Income for a family of four as $59,100
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 Daytona Beach
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 Daytona Beach HUD Rental Assistance in Daytona Beach
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% of Median | $12,850 | $16,910 | $21,330 | $25,750 | $30,170 | $34,590 | $37,950 | $40,400 |
| 50% of Median | $21,450 | $24,500 | $27,550 | $30,600 | $33,050 | $35,500 | $37,950 | $40,400 |
| 80% of Median | $34,300 | $39,200 | $44,100 | $48,950 | $52,900 | $56,800 | $60,700 | $64,650 |
Low Income Housing Tax Credits in Daytona Beach
The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.
From 1995 to 2008, 8 low income apartment communities containing 1,446 rental apartments have been constructed and made affordable to low income persons in Daytona Beach by the Low Income Housing Tax Credit Program.
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 Daytona Beach
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 50% of Median | $21,450 | $24,500 | $27,550 | $30,600 | $33,050 | $35,500 | $37,950 | $40,400 |
| 60% of Median | $25,740 | $29,400 | $33,060 | $36,720 | $39,660 | $42,600 | $45,540 | $48,480 |
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 Daytona Beach is $33,060 a year, or $2,755 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,755 by 30% to get a maximum rent of $827 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 AMI | Studio | 1 Bed | 2 Bed | 3 Bed | 4 Bed | 5 Bed |
|---|---|---|---|---|---|---|
| 50% | $536 | $574 | $689 | $796 | $888 | $979 |
| 60% | $644 | $689 | $827 | $955 | $1,065 | $1,175 |
Fair Market Rents in Daytona Beach
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.
2020 Fair Market Rents
| Studio | One BR | Two BR | Three BR | Four BR |
|---|---|---|---|---|
| $750 | $900 | $1,111 | $1,494 | $1,690 |
