Bourbon, Indiana Affordable Housing

Affordable Housing programs support 46 income based apartments in Bourbon where households pay rent based on how much they earn.

There are 0 affordable apartments in Bourbon that offer reduced rents to low-income households.

Waiting Lists in Bourbon, Indiana

There are three Section 8 Housing Choice Voucher waiting lists open in Bourbon.

Go to the Indiana Section 8 Waiting Lists page for more openings near Bourbon.

Bourbon Garden Court

200 W Florence St
Bourbon, Indiana
Rent Assisted
62+
Accessible
Elderly Supportive Housing
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Affordable Housing Near Bourbon

View affordable apartments and waiting lists in cities near Bourbon

City Apartments
Plymouth, IN Affordable Housing programs support 9 apartment communities in Plymouth.
Culver, IN Affordable Housing programs support 5 apartment communities in Culver.
Argos, IN Affordable Housing programs support 2 apartment communities in Argos.
Bremen, IN Affordable Housing programs support 2 apartment communities in Bremen.
La Paz, IN Affordable Housing programs support 1 apartment communities in La Paz.

Public Housing Agencies Serving Bourbon, Indiana

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Housing Authority Programs
Marshall County Housing Authority Section 8 Housing Choice Voucher (HCV)
Brightpoint Section 8 Housing Choice Voucher (HCV)
Go to the Indiana Public Housing and Low-Income Apartments Waiting Lists page for openings near Bourbon.

Bourbon, Indiana Affordable Housing Data

Income Based Apartments in Bourbon, Indiana

Bourbon features 46 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 Bourbon, Indiana

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

Housing Choice Vouchers in Bourbon, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Bourbon, Indiana for a two-bedroom apartment is between $746 and $912.

2023 Bourbon, Indiana 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
Bourbon, Indiana Fair Market Rent $578 $673 $829 $1,127 $1,343
Bourbon, Indiana Payment Standard Range $520 to $636 $606 to $740 $746 to $912 $1,014 to $1,240 $1,209 to $1,477

Sourced from federal housing data and AffordableHousingOnline.com research.

Bourbon, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 46
Total Housing Units with Rental Assistance 46
Percentage of Housing Units Occupied By Renters 30.26%
Average Renter Household Size 2.32
Average Household Size 2.48
Median Household Income $39,107 ±$6,741
Median Rent $625 ±$89
Percentage Of Renters Overburdened 45.89% ± 17.5pp
Total Population 1,697

Population and Household Demographics

Bourbon is a city in Marshall County, Indiana with a population of 1,697. There are 684 households in the city with an average household size of 2.48 persons. 30.26% of households in Bourbon are renters.

Income and Rent Overburden in Bourbon

The median gross income for households in Bourbon is $39,107 a year, or $3,259 a month. The median rent for the city is $625 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bourbon, a household making less than $2,083 a month would be considered overburdened when renting an apartment at or above the median rent. 45.89% of households who rent are overburdened in Bourbon.

Area Median Income In Bourbon

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 Bourbon, the AMI is calculated from all households within Marshall County.

In Bourbon, HUD calculates the Area Median Income for a family of four as $71,200

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 Bourbon

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 Bourbon

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 Bourbon AMI may qualify for rental assistance programs that target Extremely Low Income households.
$15,650 $18,310 $23,030 $27,750 $32,470 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Bourbon AMI may qualify for rental assistance programs that target Very Low Income households.
$26,100 $29,800 $33,550 $37,250 $40,250 $43,250 $46,200 $49,200
80% AMI Income Limits
Renters earning up to 80% of the Bourbon AMI may qualify for rental assistance programs that target Low Income households.
$41,750 $47,700 $53,650 $59,600 $64,400 $69,150 $73,950 $78,700