Affordable Housing In Hollywood
14 Low Income Apartment Communities In Hollywood
Housing Authorities that serve Hollywood
|Broward County Housing Authority||Section 8 Housing Choice Voucher (HCV); Section 8 Project-Based Rental Assistance (PBRA); Rental Assistance Demonstration (RAD)|
|Hollywood Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Hollywood, Florida
There are 14 low income housing apartment communities offering 1,761 affordable apartments for rent in Hollywood, Florida.
Income Based Apartments in Hollywood, Florida
Hollywood features 461 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 Hollywood, Florida
There are 1,300 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Hollywood.
Housing Choice Vouchers in Hollywood, Florida
On average, Section 8 Housing Choice vouchers pay Hollywood landlords $1,100 per month towards rent. The average voucher holder contributes $400 towards rent in Hollywood.
The maximum amount a voucher would pay on behalf of a low-income tenant in Hollywood, Florida for a two-bedroom apartment is between $1,359 and $1,661.
2021 Hollywood, 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|
|Hollywood, Florida Fair Market Rent||$1,059||$1,198||$1,510||$2,161||$2,614|
|Hollywood, Florida Payment Standard Range||$953 to $1,165||$1,078 to $1,318||$1,359 to $1,661||$1,945 to $2,377||$2,353 to $2,875|
Sourced from federal housing data and AffordableHousingOnline.com research.
Hollywood, FL Affordable Housing Snapshot
|Total Affordable Apartment Properties||14|
|Total Low Income Apartments||1,761|
|Total Housing Units with Rental Assistance||461|
|Percentage of Housing Units Occupied By Renters||41.42%|
|Average Renter Household Size||2.56|
|Average Household Size||2.61|
|Median Household Income||$46,791 ±$1,516|
|Median Rent||$1,049 ±$23|
|Percentage Of Renters Overburdened||59% ± 3.34pp|
Population and Household Demographics
Hollywood is a city in Broward County, Florida with a population of 146,791. There are 55,823 households in the city with an average household size of 2.61 persons. 41.42% of households in Hollywood are renters.
Income and Rent Overburden in Hollywood
The median gross income for households in Hollywood is $46,791 a year, or $3,899 a month. The median rent for the city is $1,049 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hollywood, a household making less than $3,497 a month would be considered overburdened when renting an apartment at or above the median rent. 59% of households who rent are overburdened in Hollywood.
Area Median Income In Hollywood
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 Hollywood, the AMI is calculated from all households within Broward County.
In Hollywood, HUD calculates the Area Median Income for a family of four as $73,400
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 Hollywood
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 Hollywood
|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 Hollywood AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Hollywood AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Hollywood AMI may qualify for rental assistance programs that target Low Income households.