Affordable Housing In Ormond Beach
Volusia County, Florida

6 Low Income Apartment Communities In Ormond Beach

Prince of Peace Villas

664 S Nova Rd
Ormond Beach, FL
Call For Rent
1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

Olive Grove Apartments

765 W Granada Blvd
Ormond Beach, FL
HCV Welcome

Ormond Shores Apartments

140 Lincoln Ave
Ormond Beach, FL
Subsidized

Turnkey 41

1 Ramsey Ter
Ormond Beach, FL

San Marco Apartments

1500 San Marco Dr
Ormond Beach, FL
HCV Welcome

Madison Glen

592 Sterthaus Dr
Ormond Beach, FL
HCV Welcome
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Housing Authorities that serve Ormond Beach

Housing Authority Programs
Ormond Beach Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing
Volusia County Community Assistance Division Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Ormond Beach, Florida

There are 6 low income housing apartment communities offering 581 affordable apartments for rent in Ormond Beach, Florida. Ormond Beach features 137 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 444 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Ormond Beach.

Sourced from federal housing data and AffordableHousingOnline.com research.

Ormond Beach, FL Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 581
Total Housing Units with Rental Assistance 137
Percentage of Housing Units Occupied By Renters 25.99%
Average Renter Household Size 2.45
Average Household Size 2.43
Median Household Income $46,567 ±$3,430
Median Rent $977 ±$31
Percentage Of Renters Overburdened 60.16% ± 6.9pp
Total Population 39,938

Population and Household Demographics

Ormond Beach is a City in Volusia County, Florida with a population of 39,938. There are 16,223 households in the city with an average household size of 2.43 persons. 25.99% of households in Ormond Beach are renters.

Income and Rent Overburden in Ormond Beach

The median gross income for households in Ormond Beach is $46,567 a year, or $3,881 a month. The median rent for the city is $977 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ormond Beach, a household making less than $3,257 a month would be considered overburdened when renting an apartment at or above the median rent. 60.16% of households who rent are overburdened in Ormond Beach.1

Area Median Income In Ormond 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 Ormond Beach, the AMI is calculated from all households within Volusia County.

In Ormond 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 Ormond 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 Ormond Beach HUD Rental Assistance in Ormond 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 Ormond Beach

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 2003 to 2012, 3 low income apartment communities containing 418 rental apartments have been constructed and made affordable to low income persons in Ormond 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 Ormond 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 Ormond 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 Ormond 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