Affordable Housing In Port Richey
Pasco County, Florida

8 Low Income Apartment Communities In Port Richey

Abigail Court

7850 Washington St
Port Richey, FL
Call For Rent
1-2 BR
55+
HCV Welcome

Greencastle of Bayonet Point

11722 La Madera Blvd
Port Richey, FL
62+
Accessible
Elderly Supportive Housing
Subsidized

Hardy Street Apartments

8426 Hardy St
Port Richey, FL
Accessible
Disabled Supportive Housing
Subsidized

Banyan Senior Apartments

11390 US Highway 19
Port Richey, FL
HCV Welcome

Pasco Terrace

11801 Pasco Terrace Ct
Port Richey, FL

Journet Place

8356 Journet Blvd
Port Richey, FL
HCV Welcome

Hudson Ridge

12200 Hudson Ridge Dr
Port Richey, FL
HCV Welcome

Park Richey

9000 Lismore Ln
Port Richey, FL
HCV Welcome
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Housing Authorities that serve Port Richey

Housing Authority Programs
Pasco County Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Port Richey, Florida

According to federal housing data and AffordableHousingOnline.com research, there are 8 low income housing apartment communities offering 718 affordable apartments for rent in Port Richey, Florida. Port Richey features 146 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 572 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Port Richey.

Port Richey, FL Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 718
Total Housing Units with Rental Assistance 146
Percentage of Housing Units Occupied By Renters 35.29%
Average Renter Household Size 2.21
Average Household Size 2.08
Median Household Income $39,028 ±$8,033
Median Rent $821 ±$61
Percentage Of Renters Overburdened 42.01% ± 15.36pp
Total Population 2,699

Population and Household Demographics

Port Richey is a City in Pasco County, Florida with a population of 2,699. There are 1,295 households in the city with an average household size of 2.08 persons. 35.29% of households in Port Richey are renters.

Income and Rent Overburden in Port Richey

The median gross income for households in Port Richey is $39,028 a year, or $3,252 a month. The median rent for the city is $821 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Port Richey, a household making less than $2,737 a month would be considered overburdened when renting an apartment at or above the median rent. 42.01% of households who rent are overburdened in Port Richey.1

Area Median Income In Port Richey

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 Port Richey, the AMI is calculated from all households within Pasco County.

In Port Richey, HUD calculates the Area Median Income for a family of four as $66,900

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 Port Richey

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 Port Richey HUD Rental Assistance in Port Richey

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,050 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,450 $26,800 $30,150 $33,450 $36,150 $38,850 $41,500 $44,200
80% of Median $37,450 $42,800 $48,150 $53,500 $57,800 $62,100 $66,350 $70,650
Low Income Housing Tax Credits in Port Richey

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

From 1999 to 2011, 4 low income apartment communities containing 569 rental apartments have been constructed and made affordable to low income persons in Port Richey 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 Port Richey

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,450 $26,800 $30,150 $33,450 $36,150 $38,850 $41,500 $44,200
60% of Median $28,140 $32,160 $36,180 $40,140 $43,380 $46,620 $49,800 $53,040

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 Port Richey is $36,180 a year, or $3,015 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,015 by 30% to get a maximum rent of $905 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% $586 $628 $754 $870 $971 $1,071
60% $704 $754 $905 $1,044 $1,166 $1,286
Fair Market Rents in Port Richey

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
$935 $981 $1,206 $1,575 $1,925