Affordable Housing In Hancock County
Indiana


Waiting List Openings In Hancock County

Waiting ListStatus
Interlocal Community Action Program Inc Housing Choice Voucher Open Soon

12 Low Income Apartment Communities In Hancock County

Broadway Village Apartments

751 GUNSTRA LANE
Greenfield, IN
Call For Rent
1-3 BR
HCV Welcome

Reflections at Bluestone Senior Housing

346 North Blue Road
Greenfield, IN
Call For Rent
1 BR
62+
HCV Welcome

Stonehurst Pointe Apartments

2220 Stone Crossing Way
Greenfield, IN
HCV Welcome

Good Shepherd Community

301 W Green Meadows Dr
Greenfield, IN
62+
Accessible
Elderly Supportive Housing
Subsidized

German Church Senior Apartments

11000 East Washington St. Cumberland, IN
Cumberland, IN
62+
HCV Welcome

Broadway Village Apartments

751 GUNSTRA LANE
Greenfield, IN

Greenfield Village

1650 Village Dr E
Greenfield, IN
HCV Welcome

Lincoln Park Apartments

600 W North St
Greenfield, IN
HCV Welcome

South Park Apartments

100 N 1st St
Shirley, IN
Subsidized

Prairie Meadows Apartments

2915 Switch Grass Dr
Greenfield, IN
HCV Welcome

There are 12 low income housing apartment complexes which contain 623 affordable apartments for rent in Hancock County. Many of these rental apartments are income based housing with 99 apartments that set rent based on your income. In Hancock County, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 470 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Hancock County

Housing Authority Programs
Interlocal Community Action Program Inc Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Hancock County, Indiana

Hancock County, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 12
Total Low Income Apartments 623
Total Rent Assisted Apartments 99
Percentage of Housing Units Occupied By Renters 21.76%
Average Renter Household Size 2.35
Total Population 71,328
Housing Units 26,340
Average Household Size 2.68
Median Household Income $66,606 ±$1,913
Median Rent $832 ±$58
Percentage Of Renters Overburdened 38.45% ± 5.99pp

Population and Household Demographics

Hancock County is a County in Indiana with a population of 71,328. There are 26,340 households in the county with an average household size of 2.68 persons. 21.76% of households in Hancock County are renters.

Income and Rent Overburden in Hancock County

The median gross income for households in Hancock County is $66,606 a year, or $5,551 a month. The median rent for the county is $832 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hancock County, a household making less than $2,773 a month would be considered overburdened when renting an apartment at or above the median rent. 38.45% of households who rent are overburdened in Hancock County.1

Area Median Income In Hancock 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 Hancock County, HUD calculates the Area Median Income for a family of four as $79,900

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 Hancock 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 Hancock County HUD Rental Assistance in Hancock County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,800 $19,200 $21,600 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,000 $32,000 $36,000 $39,950 $43,150 $46,350 $49,550 $52,750
80% of Median $44,750 $51,150 $57,550 $63,900 $69,050 $74,150 $79,250 $84,350
Low Income Housing Tax Credits in Hancock County

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

From 1989 to 2012, 9 low income apartment communities containing 361 rental apartments have been constructed and made affordable to low income persons in Hancock County 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 Hancock County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $28,000 $32,000 $36,000 $39,950 $43,150 $46,350 $49,550 $52,750
60% of Median $33,600 $38,400 $43,200 $47,940 $51,780 $55,620 $59,460 $63,300

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 Hancock County is $43,200 a year, or $3,600 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,600 by 30% to get a maximum rent of $1,080 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% $700 $750 $900 $1,039 $1,159 $1,279
60% $840 $900 $1,080 $1,247 $1,391 $1,535
Fair Market Rents in Hancock County

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
$651 $751 $918 $1,226 $1,389

Cities In Hancock County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Greenfield 9 The HUD funded Public Housing Agency that serves Greenfield is the Interlocal Community Action Program Inc.
Shirley 2 The HUD funded Public Housing Agency that serves Shirley is the Interlocal Community Action Program Inc.
Mccordsville 0 The HUD funded Public Housing Agency that serves Mccordsville is the Interlocal Community Action Program Inc.
Cumberland 1 The HUD funded Public Housing Agency that serves Cumberland is the Interlocal Community Action Program Inc.
New Palestine 0 The HUD funded Public Housing Agency that serves New Palestine is the Interlocal Community Action Program Inc.
Spring Lake 0 The HUD funded Public Housing Agency that serves Spring Lake is the Interlocal Community Action Program Inc.
Wilkinson 0 The HUD funded Public Housing Agency that serves Wilkinson is the Interlocal Community Action Program Inc.