. Low Income Apartments For Rent in Preston, Idaho - Affordable Housing Online

Cedarwood Apartments

257 N 2nd E
Preston, Idaho

Preston Senior Housing

250 N State St
Preston, Idaho

Preston Vista Apartments

250 E 4th N
Preston, Idaho
Rent Assisted
Call For Rent
2-4 BR
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There are 36 low-income apartments in Preston that offer reduced rents to eligible households.

Rental assistance programs support 38 low-income homes in Preston where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $-4 towards rent each month.

Affordable rent data for some communities last confirmed on February 12th, 2021. Subdsidized rents typically change once a year based on federal guidance.

Preston, Idaho Affordable Housing Data

Income Based Apartments in Preston, Idaho

Preston features 38 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 Preston, Idaho

There are 36 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Preston.

Housing Choice Vouchers in Preston, Idaho

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Preston, Idaho for a two-bedroom apartment is between $839 and $1,025.

2023 Preston, 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
Preston, Idaho Fair Market Rent $629 $748 $932 $1,325 $1,588
Preston, Idaho Payment Standard Range $566 to $692 $673 to $823 $839 to $1,025 $1,193 to $1,458 $1,429 to $1,747

Sourced from federal housing data and AffordableHousingOnline.com research.

Preston, ID Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 74
Total Housing Units with Rental Assistance 38
Percentage of Housing Units Occupied By Renters 27.46%
Average Renter Household Size 2.70
Average Household Size 2.75
Median Household Income $47,065 ±$7,200
Median Rent $638 ±$128
Percentage Of Renters Overburdened 31.32% ± 16.14pp
Total Population 5,190

Population and Household Demographics

Preston is a city in Franklin County, Idaho with a population of 5,190. There are 1,872 households in the city with an average household size of 2.75 persons. 27.46% of households in Preston are renters.

Income and Rent Overburden in Preston

The median gross income for households in Preston is $47,065 a year, or $3,922 a month. The median rent for the city is $638 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Preston, a household making less than $2,127 a month would be considered overburdened when renting an apartment at or above the median rent. 31.32% of households who rent are overburdened in Preston.

Area Median Income In Preston

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 Preston, the AMI is calculated from all households within Franklin County.

In Preston, HUD calculates the Area Median Income for a family of four as $84,300

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 Preston

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 Preston

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 Preston AMI may qualify for rental assistance programs that target Extremely Low Income households.
$18,350 $21,000 $24,860 $30,000 $35,140 $40,280 $45,420 $50,560
50% AMI Income Limits
Renters earning up to 50% of the Preston AMI may qualify for rental assistance programs that target Very Low Income households.
$30,600 $35,000 $39,350 $43,700 $47,200 $50,700 $54,200 $57,700
80% AMI Income Limits
Renters earning up to 80% of the Preston AMI may qualify for rental assistance programs that target Low Income households.
$48,950 $55,950 $62,950 $69,900 $75,500 $81,100 $86,700 $92,300