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Affordable Housing In Franklin County
Florida

6 Low Income Apartment Communities In Franklin County

Carrabelle Cove Apartments

807 Gray Ave
Carrabelle, Florida
Accepts Vouchers

Heritage Villas of Apalachicola Ltd

398 24th Ave
Apalachicola, Florida
Subsidized

Cool Springs

155 16th St
Apalachicola, Florida

Eastpoint Apartments

300 Begonia St
Eastpoint, Florida
Accepts Vouchers

Southern Villas of Apalachicola

401 24th Ave
Apalachicola, Florida
Subsidized

Eastpoint Apartments Rrh

45 Begonia St
Eastpoint, Florida
Subsidized
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Guide To Affordable Housing in Franklin County, Florida

There are 6 low income housing apartment communities offering 241 affordable apartments for rent in Franklin County, Florida.

Income Based Apartments in Franklin County, Florida

Franklin County features 179 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 Franklin County, Florida

There are 62 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin County.

Housing Choice Vouchers in Franklin County, Florida

On average, Section 8 Housing Choice vouchers pay Franklin County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Franklin County.

The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin County, Florida for a two-bedroom apartment is between $707 and $865.

2020 Franklin 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 $635 $691 $786 $1,134 $1,380
Payment Standard Range $572 to $699 $622 to $760 $707 to $865 $1,021 to $1,247 $1,242 to $1,518

Sourced from federal housing data and AffordableHousingOnline.com research.

Franklin County, FL Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 241
Total Housing Units with Rental Assistance 179
Percentage of Housing Units Occupied By Renters 27.46%
Average Renter Household Size 2.29
Average Household Size 2.24
Median Household Income $40,401 ±$3,025
Median Rent $711 ±$50
Percentage Of Renters Overburdened 34.42% ± 8.35pp
Total Population 11,628

Population and Household Demographics

Franklin County is a county in Florida with a population of 11,628. There are 4,338 households in the county with an average household size of 2.24 persons. 27.46% of households in Franklin County are renters.

Income and Rent Overburden in Franklin County

The median gross income for households in Franklin County is $40,401 a year, or $3,367 a month. The median rent for the county is $711 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Franklin County, a household making less than $2,370 a month would be considered overburdened when renting an apartment at or above the median rent. 34.42% of households who rent are overburdened in Franklin County.

Area Median Income In Franklin 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 Franklin County, HUD calculates the Area Median Income for a family of four as $55,400

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 Franklin 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 Franklin County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,760 $17,240 $21,720 $26,200 $29,950 $32,150 $34,350 $36,600
50% of Median $19,400 $22,200 $24,950 $27,700 $29,950 $32,150 $34,350 $36,600
80% of Median $31,050 $35,450 $39,900 $44,300 $47,850 $51,400 $54,950 $58,500

Cities In Franklin County

Select A City to View its Apartment Communities and Waiting Lists.

City Served By
Apalachicola The HUD funded Public Housing Agency that serves Apalachicola is the Housing Authority of the City of Apalachicola.
Carrabelle
Eastpoint