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Affordable Housing In Laurel
Franklin County, Indiana

2 Low Income Apartment Communities In Laurel

Laurel Park Apartments

124 S Clay St
Laurel, Indiana
1-3 BR

Laurel Park Apartments

Clay and Pearl Sts
Laurel, Indiana
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Housing Authorities that serve Laurel

Housing Authority Programs
Franklin County Housing Authority Section 8 Housing Choice Voucher (HCV)
Southeastern Indiana Economic Opportunity Corporation Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency

Guide To Affordable Housing in Laurel, Indiana

There are 2 low income housing apartment communities offering 32 affordable apartments for rent in Laurel, Indiana.

Income Based Apartments in Laurel, Indiana

Laurel features 16 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 Laurel, Indiana

There are 16 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Laurel.

Housing Choice Vouchers in Laurel, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Laurel, Indiana for a two-bedroom apartment is between $680 and $832.

2021 Laurel, 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
Laurel, Indiana Fair Market Rent $499 $574 $756 $966 $1,068
Laurel, Indiana Payment Standard Range $449 to $549 $517 to $631 $680 to $832 $869 to $1,063 $961 to $1,175

Sourced from federal housing data and research.

Laurel, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 32
Total Housing Units with Rental Assistance 16
Percentage of Housing Units Occupied By Renters 43.82%
Average Renter Household Size 3.04
Average Household Size 3.07
Median Household Income $21,818 ±$9,706
Median Rent $573 ±$60
Percentage Of Renters Overburdened 79.49% ± 23.7pp
Total Population 547

Population and Household Demographics

Laurel is a city in Franklin County, Indiana with a population of 547. There are 178 households in the city with an average household size of 3.07 persons. 43.82% of households in Laurel are renters.

Income and Rent Overburden in Laurel

The median gross income for households in Laurel is $21,818 a year, or $1,818 a month. The median rent for the city is $573 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Laurel, a household making less than $1,910 a month would be considered overburdened when renting an apartment at or above the median rent. 79.49% of households who rent are overburdened in Laurel.

Area Median Income In Laurel

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 Laurel, the AMI is calculated from all households within Franklin County.

In Laurel, HUD calculates the Area Median Income for a family of four as $69,500

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 Laurel

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 Laurel

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 Laurel AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,600 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $44,120
50% AMI Income Limits
Renters earning up to 50% of the Laurel AMI may qualify for rental assistance programs that target Very Low Income households.
$24,350 $27,800 $31,300 $34,750 $37,550 $40,350 $43,100 $45,900
80% AMI Income Limits
Renters earning up to 80% of the Laurel AMI may qualify for rental assistance programs that target Low Income households.
$38,950 $44,500 $50,050 $55,600 $60,050 $64,500 $68,950 $73,400