Affordable Housing In Ferdinand
Idaho County, Idaho

Guide To Affordable Housing in Ferdinand, Idaho

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Ferdinand, Idaho.

Income Based Apartments in Ferdinand, Idaho

Ferdinand features 0 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 Ferdinand, Idaho

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ferdinand.

Housing Choice Vouchers in Ferdinand, Idaho

On average, Section 8 Housing Choice vouchers pay Ferdinand landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ferdinand.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ferdinand, Idaho for a two-bedroom apartment is between $774 and $946.

2022 Ferdinand, Idaho 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
Ferdinand, Idaho Fair Market Rent $649 $654 $860 $1,136 $1,459
Ferdinand, Idaho Payment Standard Range $584 to $714 $589 to $719 $774 to $946 $1,022 to $1,250 $1,313 to $1,605

Sourced from federal housing data and research.

Ferdinand, ID Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 19.4%
Average Renter Household Size 3.31
Average Household Size 2.30
Median Household Income $45,625 ±$15,885
Median Rent $675 ±$327
Percentage Of Renters Overburdened 15.38% ± 149.37pp
Total Population 154

Population and Household Demographics

Ferdinand is a city in Idaho County, Idaho with a population of 154. There are 67 households in the city with an average household size of 2.30 persons. 19.4% of households in Ferdinand are renters.

Income and Rent Overburden in Ferdinand

The median gross income for households in Ferdinand is $45,625 a year, or $3,802 a month. The median rent for the city is $675 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ferdinand, a household making less than $2,250 a month would be considered overburdened when renting an apartment at or above the median rent. 15.38% of households who rent are overburdened in Ferdinand.

Area Median Income In Ferdinand

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 Ferdinand, the AMI is calculated from all households within Idaho County.

In Ferdinand, HUD calculates the Area Median Income for a family of four as $57,400

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 Ferdinand

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 Ferdinand

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 Ferdinand AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,000 $18,310 $23,030 $27,750 $32,470 $37,190 $41,250 $43,900
50% AMI Income Limits
Renters earning up to 50% of the Ferdinand AMI may qualify for rental assistance programs that target Very Low Income households.
$23,300 $26,600 $29,950 $33,250 $35,950 $38,600 $41,250 $43,900
80% AMI Income Limits
Renters earning up to 80% of the Ferdinand AMI may qualify for rental assistance programs that target Low Income households.
$37,250 $42,600 $47,900 $53,200 $57,500 $61,750 $66,000 $70,250