Affordable Housing In Bedford
Lawrence County Indiana

5 Low Income Apartment Communities In Bedford

Cambridge Square Bedford

1941 Plaza Dr
Bedford, IN
Call For Rent
1 BR
55+
Subsidized

Stonecutters Place Apartments

1030 16th Street
Bedford, IN
Call For Rent
1 BR
62+
HCV Welcome

South Central Housing

2721 Industrial Dr
Bedford, IN
Accessible
Disabled Supportive Housing
Subsidized

Hauck House Apartments.

1305 K St
Bedford, IN

Shawnee Apartments

100 Shawnee Ln
Bedford, IN
HCV Welcome
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There are 5 low income housing apartment complexes which contain 411 affordable apartments for rent in Bedford. Many of these rental apartments are income based housing with 355 apartments that set rent based on your income. In Bedford, HUD housing programs support 135 rental assistance apartments through programs like Project-based Section 8. There are 56 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Bedford

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

Guide To Affordable Housing in Bedford, Indiana

Bedford, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 411
Total Rent Assisted Apartments 355
Percentage of Housing Units Occupied By Renters 37.12%
Average Renter Household Size 2.14
Total Population 13,371
Housing Units 5,541
Average Household Size 2.30
Median Household Income $37,706 ±$2,957
Median Rent $644 ±$28
Percentage Of Renters Overburdened 46.72% ± 7.43pp

Population and Household Demographics

Bedford is a City in Lawrence County, Indiana with a population of 13,371. There are 5,541 households in the city with an average household size of 2.30 persons. 37.12% of households in Bedford are renters.

Income and Rent Overburden in Bedford

The median gross income for households in Bedford is $37,706 a year, or $3,142 a month. The median rent for the city is $644 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bedford, a household making less than $2,147 a month would be considered overburdened when renting an apartment at or above the median rent. 46.72% of households who rent are overburdened in Bedford.1

Area Median Income In Bedford

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 Bedford, the AMI is calculated from all households within Lawrence County.

In Bedford, HUD calculates the Area Median Income for a family of four as $59,600

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 Bedford

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 Bedford HUD Rental Assistance in Bedford

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 $42,600
50% of Median $22,600 $25,800 $29,050 $32,250 $34,850 $37,450 $40,000 $42,600
80% of Median $36,150 $41,300 $46,450 $51,600 $55,750 $59,900 $64,000 $68,150
Low Income Housing Tax Credits in Bedford

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

From 2000 to 2000, 1 low income apartment communities containing 56 rental apartments have been constructed and made affordable to low income persons in Bedford 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 Bedford

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
60% of Median $27,120 $30,960 $34,860 $38,700 $41,820 $44,940 $48,000 $51,120

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 Bedford is $34,860 a year, or $2,905 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,905 by 30% to get a maximum rent of $872 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% $565 $605 $726 $839 $936 $1,033
60% $678 $726 $872 $1,007 $1,124 $1,239
Fair Market Rents in Bedford

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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$474 $540 $714 $895 $1,253