Affordable Housing In Fanning Springs
1 Low Income Apartment Communities In Fanning Springs
Housing Authorities that serve Fanning Springs
|Gilchrist County Housing Authority||Public Housing|
|North Central Florida Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Fanning Springs, Florida
There are 1 low income housing apartment communities offering 24 affordable apartments for rent in Fanning Springs, Florida.
Income Based Apartments in Fanning Springs, Florida
Fanning Springs 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 Fanning Springs, Florida
There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fanning Springs.
Housing Choice Vouchers in Fanning Springs, Florida
On average, Section 8 Housing Choice vouchers pay Fanning Springs landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Fanning Springs.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fanning Springs, Florida for a two-bedroom apartment is between $975 and $1,191.
2021 Fanning Springs, 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|
|Fanning Springs, Florida Fair Market Rent||$805||$897||$1,083||$1,415||$1,469|
|Fanning Springs, Florida Payment Standard Range||$725 to $886||$807 to $987||$975 to $1,191||$1,274 to $1,557||$1,322 to $1,616|
Sourced from federal housing data and AffordableHousingOnline.com research.
Fanning Springs, FL Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||24|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||34.45%|
|Average Renter Household Size||2.23|
|Average Household Size||2.49|
|Median Household Income||$31,106 ±$6,518|
|Median Rent||$533 ±$42|
|Percentage Of Renters Overburdened||49.25% ± 21.19pp|
Population and Household Demographics
Fanning Springs is a city in Gilchrist County, Florida with a population of 1,046. There are 389 households in the city with an average household size of 2.49 persons. 34.45% of households in Fanning Springs are renters.
Income and Rent Overburden in Fanning Springs
The median gross income for households in Fanning Springs is $31,106 a year, or $2,592 a month. The median rent for the city is $533 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Fanning Springs, a household making less than $1,777 a month would be considered overburdened when renting an apartment at or above the median rent. 49.25% of households who rent are overburdened in Fanning Springs.
Area Median Income In Fanning Springs
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 Fanning Springs, the AMI is calculated from all households within Gilchrist County.
In Fanning Springs, HUD calculates the Area Median Income for a family of four as $80,800
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 Fanning Springs
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 Fanning Springs
|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 Fanning Springs AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Fanning Springs AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Fanning Springs AMI may qualify for rental assistance programs that target Low Income households.