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Affordable Housing In Hobart
Lake County, Indiana

2 Low Income Apartment Communities In Hobart

Lake Park Senior Apartments

51 10th Street West
Hobart, Indiana
$550-1,450
1-2 BR
62+

Linden House Hobart

360 W 61st Ave
Hobart, Indiana
Subsidized
62+
Accessible
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.

Income Based Apartments in Hobart, Indiana

Hobart features 90 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 Hobart, Indiana

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

Housing Choice Vouchers in Hobart, Indiana

On average, Section 8 Housing Choice vouchers pay Hobart landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Hobart.

The maximum amount a voucher would pay on behalf of a low-income tenant in Hobart, Indiana for a two-bedroom apartment is between $825 and $1,009.

2020 Hobart, 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
Fair Market Rent $597 $746 $917 $1,143 $1,292
Payment Standard Range $537 to $657 $671 to $821 $825 to $1,009 $1,029 to $1,257 $1,163 to $1,421

Sourced from federal housing data and AffordableHousingOnline.com 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.

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 $74,900

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 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 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 $15,750 $18,000 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $26,250 $30,000 $33,750 $37,450 $40,450 $43,450 $46,450 $49,450
80% of Median $41,950 $47,950 $53,950 $59,900 $64,700 $69,500 $74,300 $79,100