Affordable Housing In Floyd County
21 Low Income Apartment Communities In Floyd County
Housing Authorities that serve Floyd County
|Community Action of Southern Indiana||Section 8 Housing Choice Voucher (HCV)|
Other Housing Authorities located in Floyd County
|Housing Authority of the City of New Albany||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Floyd County, Indiana
There are 21 low income housing apartment communities offering 1,802 affordable apartments for rent in Floyd County, Indiana.
Income Based Apartments in Floyd County, Indiana
Floyd County features 1,496 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 Floyd County, Indiana
There are 306 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Floyd County.
Housing Choice Vouchers in Floyd County, Indiana
On average, Section 8 Housing Choice vouchers pay Floyd County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Floyd County.
Sourced from federal housing data and AffordableHousingOnline.com research.
Floyd County, IN Affordable Housing Snapshot
|Total Affordable Apartment Properties||21|
|Total Low Income Apartments||1,802|
|Total Housing Units with Rental Assistance||1,496|
|Percentage of Housing Units Occupied By Renters||27.62%|
|Average Renter Household Size||2.36|
|Average Household Size||2.57|
|Median Household Income||$54,914 ±$1,800|
|Median Rent||$723 ±$18|
|Percentage Of Renters Overburdened||45.9% ± 3.87pp|
Population and Household Demographics
Floyd County is a County in Indiana with a population of 75,900. There are 29,088 households in the county with an average household size of 2.57 persons. 27.62% of households in Floyd County are renters.
Income and Rent Overburden in Floyd County
The median gross income for households in Floyd County is $54,914 a year, or $4,576 a month. The median rent for the county is $723 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Floyd County, a household making less than $2,410 a month would be considered overburdened when renting an apartment at or above the median rent. 45.9% of households who rent are overburdened in Floyd County.1
Area Median Income In Floyd County
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.
In Floyd County, HUD calculates the Area Median Income for a family of four as $76,400
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 Floyd County
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 Floyd County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$16,050||$18,350||$21,330||$25,750||$30,170||$34,590||$39,010||$43,430|
|50% of Median||$26,750||$30,600||$34,400||$38,200||$41,300||$44,350||$47,400||$50,450|
|80% of Median||$42,800||$48,900||$55,000||$61,100||$66,000||$70,900||$75,800||$80,700|
Cities In Floyd County
Select A City to View its Apartment Communities and Waiting Lists.
|New Albany||17||The HUD funded Public Housing Agency that serves New Albany is the Housing Authority of the City of New Albany.|
|Georgetown||3||The HUD funded Public Housing Agency that serves Georgetown is the Community Action of Southern Indiana.|
|Galena||0||The HUD funded Public Housing Agency that serves Galena is the Community Action of Southern Indiana.|
|Greenville||0||The HUD funded Public Housing Agency that serves Greenville is the Community Action of Southern Indiana.|