Affordable Housing In East Palatka
Guide To Affordable Housing in East Palatka, Florida
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in East Palatka, Florida.
Income Based Apartments in East Palatka, Florida
East Palatka 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 East Palatka, Florida
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in East Palatka.
Housing Choice Vouchers in East Palatka, Florida
On average, Section 8 Housing Choice vouchers pay East Palatka landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in East Palatka.
The maximum amount a voucher would pay on behalf of a low-income tenant in East Palatka, Florida for a two-bedroom apartment is between $693 and $847.
2022 East Palatka, 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|
|East Palatka, Florida Fair Market Rent||$581||$585||$770||$987||$1,095|
|East Palatka, Florida Payment Standard Range||$523 to $639||$527 to $644||$693 to $847||$888 to $1,086||$986 to $1,205|
Sourced from federal housing data and AffordableHousingOnline.com research.
East Palatka, FL 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||24.8%|
|Average Renter Household Size||2.61|
|Average Household Size||2.36|
|Median Household Income||$35,000 ±$15,676|
|Median Rent||$770 ±$140|
|Percentage Of Renters Overburdened||78.57% ± 39.99pp|
Population and Household Demographics
East Palatka is a city in Putnam County, Florida with a population of 1,852. There are 508 households in the city with an average household size of 2.36 persons. 24.8% of households in East Palatka are renters.
Income and Rent Overburden in East Palatka
The median gross income for households in East Palatka is $35,000 a year, or $2,917 a month. The median rent for the city is $770 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In East Palatka, a household making less than $2,567 a month would be considered overburdened when renting an apartment at or above the median rent. 78.57% of households who rent are overburdened in East Palatka.
Area Median Income In East Palatka
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 East Palatka, the AMI is calculated from all households within Putnam County.
In East Palatka, HUD calculates the Area Median Income for a family of four as $55,700
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 East Palatka
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 East Palatka
|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 East Palatka AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the East Palatka AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the East Palatka AMI may qualify for rental assistance programs that target Low Income households.