Affordable Housing In Stuart
Martin County, Florida

6 Low Income Apartment Communities In Stuart

The Crossings at Indian Run

3800 SE Gatehouse Circle
Stuart, FL
HCV Welcome

Sierra Apartments

1001 SE Monterey Rd
Stuart, FL
Accessible
Disabled Supportive Housing
Subsidized

Lakeside Apartments

701 SE Martin Luther King Jr Blvd
Stuart, FL

Scatterd Site

500 SE Church St
Stuart, FL

Salerno Cove

3418 SE Cobia Way
Stuart, FL
Subsidized

Salerno Village

5813 SE 47th Ave
Stuart, FL
HCV Welcome
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Housing Authorities that serve Stuart

Housing Authority Programs
Housing Authority of the City of Stuart Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Stuart, Florida

According to federal housing data and AffordableHousingOnline.com research, there are 6 low income housing apartment communities offering 726 affordable apartments for rent in Stuart, Florida. Stuart features 244 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 482 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Stuart.

Stuart, FL Affordable Housing Snapshot

Total Affordable Apartment Properties 6
Total Low Income Apartments 726
Total Housing Units with Rental Assistance 244
Percentage of Housing Units Occupied By Renters 47.86%
Average Renter Household Size 2.13
Average Household Size 2.12
Median Household Income $36,514 ±$2,231
Median Rent $944 ±$32
Percentage Of Renters Overburdened 56.99% ± 8.64pp
Total Population 16,037

Population and Household Demographics

Stuart is a City in Martin County, Florida with a population of 16,037. There are 7,418 households in the city with an average household size of 2.12 persons. 47.86% of households in Stuart are renters.

Income and Rent Overburden in Stuart

The median gross income for households in Stuart is $36,514 a year, or $3,043 a month. The median rent for the city is $944 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Stuart, a household making less than $3,147 a month would be considered overburdened when renting an apartment at or above the median rent. 56.99% of households who rent are overburdened in Stuart.1

Area Median Income In Stuart

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 Stuart, the AMI is calculated from all households within Martin County.

In Stuart, HUD calculates the Area Median Income for a family of four as $59,500

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 Stuart

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 Stuart HUD Rental Assistance in Stuart

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,550 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $42,550
50% of Median $22,550 $25,800 $29,000 $32,200 $34,800 $37,400 $39,950 $42,550
80% of Median $36,050 $41,200 $46,350 $51,500 $55,650 $59,750 $63,900 $68,000
Low Income Housing Tax Credits in Stuart

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

From 1998 to 1998, 1 low income apartment communities containing 386 rental apartments have been constructed and made affordable to low income persons in Stuart 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 Stuart

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $22,550 $25,800 $29,000 $32,200 $34,800 $37,400 $39,950 $42,550
60% of Median $27,060 $30,960 $34,800 $38,640 $41,760 $44,880 $47,940 $51,060

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 Stuart is $34,800 a year, or $2,900 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,900 by 30% to get a maximum rent of $870 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% $564 $604 $725 $838 $935 $1,031
60% $677 $725 $870 $1,005 $1,122 $1,238
Fair Market Rents in Stuart

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
$932 $938 $1,207 $1,642 $1,907