Affordable Housing In Hobart
Lake County, Indiana

2 Low Income Apartment Communities In Hobart

Lake Park Senior Apartments

51 10th Street West
Hobart, IN
1-2 BR
Accepts Vouchers

Linden House Hobart

360 W 61st Ave
Hobart, IN
Elderly Supportive Housing
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Guide To Affordable Housing in Hobart, Indiana

There are 2 low income housing apartment communities offering 90 affordable apartments for rent in Hobart, Indiana. Hobart features 90 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 0 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Hobart.

Sourced from federal housing data and research.

Hobart, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 90
Total Housing Units with Rental Assistance 90
Percentage of Housing Units Occupied By Renters 26.67%
Average Renter Household Size 2.08
Average Household Size 2.48
Median Household Income $58,246 ±$2,611
Median Rent $859 ±$40
Percentage Of Renters Overburdened 34.49% ± 7.29pp
Total Population 28,943

Population and Household Demographics

Hobart is a City in Lake County, Indiana with a population of 28,943. There are 11,590 households in the city with an average household size of 2.48 persons. 26.67% of households in Hobart are renters.

Income and Rent Overburden in Hobart

The median gross income for households in Hobart is $58,246 a year, or $4,854 a month. The median rent for the city is $859 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hobart, a household making less than $2,863 a month would be considered overburdened when renting an apartment at or above the median rent. 34.49% of households who rent are overburdened in Hobart.1

Area Median Income In Hobart

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 Hobart, the AMI is calculated from all households within Lake County.

In Hobart, HUD calculates the Area Median Income for a family of four as $72,800

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 Hobart

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 Hobart HUD Rental Assistance in Hobart

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,300 $17,500 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,500 $29,150 $32,800 $36,400 $39,350 $42,250 $45,150 $48,050
80% of Median $40,800 $46,600 $52,450 $58,250 $62,950 $67,600 $72,250 $76,900
Fair Market Rents in Hobart

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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$597 $746 $917 $1,143 $1,292