Affordable Housing In Waycross
Pierce County,
Georgia
15 Low Income Apartment Communities In Waycross
Ware Terrace ( Terrace Garden Apartments )
Central Walnut Village
Waycross Voa Housing, Inc
Waycross II Voa Housing
Housing Authorities that serve Waycross
| Housing Authority | Programs |
|---|---|
| Housing Authority of the City of Waycross | Public Housing |
| Housing Authority of the City of Blackshear | Public Housing |
| Georgia Department of Community Affairs | Section 8 Housing Choice Voucher (HCV) |
Guide To Affordable Housing in Waycross, Georgia
There are 15 low income housing apartment communities offering 958 affordable apartments for rent in Waycross, Georgia. Waycross features 606 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 352 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Waycross.
Sourced from federal housing data and AffordableHousingOnline.com research.
Waycross, GA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 15 |
|---|---|
| Total Low Income Apartments | 958 |
| Total Housing Units with Rental Assistance | 606 |
| Percentage of Housing Units Occupied By Renters | 49.55% |
| Average Renter Household Size | 2.41 |
| Average Household Size | 2.27 |
| Median Household Income | $25,082 ±$2,731 |
| Median Rent | $591 ±$55 |
| Percentage Of Renters Overburdened | 47.68% ± 7.98pp |
| Total Population | 14,258 |
Population and Household Demographics
Waycross is a City in Pierce County, Georgia with a population of 14,258. There are 6,087 households in the city with an average household size of 2.27 persons. 49.55% of households in Waycross are renters.
Income and Rent Overburden in Waycross
The median gross income for households in Waycross is $25,082 a year, or $2,090 a month. The median rent for the city is $591 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Waycross, a household making less than $1,970 a month would be considered overburdened when renting an apartment at or above the median rent. 47.68% of households who rent are overburdened in Waycross.1
Area Median Income In Waycross
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 Waycross, the AMI is calculated from all households within Pierce County.
In Waycross, HUD calculates the Area Median Income for a family of four as $53,900
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 Waycross
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 Waycross HUD Rental Assistance in Waycross
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% of Median | $12,490 | $16,910 | $21,330 | $25,750 | $29,150 | $31,300 | $33,450 | $35,600 |
| 50% of Median | $18,900 | $21,600 | $24,300 | $26,950 | $29,150 | $31,300 | $33,450 | $35,600 |
| 80% of Median | $30,200 | $34,500 | $38,800 | $43,100 | $46,550 | $50,000 | $53,450 | $56,900 |
Low Income Housing Tax Credits in Waycross
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, 7 low income apartment communities containing 414 rental apartments have been constructed and made affordable to low income persons in Waycross 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 Waycross
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 50% of Median | $18,900 | $21,600 | $24,300 | $26,950 | $29,150 | $31,300 | $33,450 | $35,600 |
| 60% of Median | $22,680 | $25,920 | $29,160 | $32,340 | $34,980 | $37,560 | $40,140 | $42,720 |
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 Waycross is $29,160 a year, or $2,430 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,430 by 30% to get a maximum rent of $729 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% | $473 | $506 | $608 | $701 | $783 | $863 |
| 60% | $567 | $608 | $729 | $842 | $939 | $1,036 |
Fair Market Rents in Waycross
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 |
|---|---|---|---|---|
| $556 | $569 | $651 | $889 | $1,100 |
