Affordable Housing In Shoals
Martin County, Indiana

2 Low Income Apartment Communities In Shoals

Village Apartments of Shoals

11708 Ironton Rd
Shoals, Indiana

Shoals Senior Housing Inc

217 Capitol
Shoals, Indiana
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Section 8 Vouchers, Apartments, and Waiting Lists in Shoals, Indiana

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Shoals, Indiana

Housing Authority Programs
Hoosier Uplands Economic Development Corporation Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Shoals, Indiana

There are 2 low income housing apartment communities offering 58 affordable apartments for rent in Shoals, Indiana.

Income Based Apartments in Shoals, Indiana

Shoals features 34 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 Shoals, Indiana

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Shoals.

Housing Choice Vouchers in Shoals, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Shoals, Indiana for a two-bedroom apartment is between $664 and $812.

2022 Shoals, 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
Shoals, Indiana Fair Market Rent $515 $561 $738 $912 $1,263
Shoals, Indiana Payment Standard Range $464 to $567 $505 to $617 $664 to $812 $821 to $1,003 $1,137 to $1,389

Sourced from federal housing data and AffordableHousingOnline.com research.

Shoals, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 58
Total Housing Units with Rental Assistance 34
Percentage of Housing Units Occupied By Renters 28.42%
Average Renter Household Size 1.44
Average Household Size 2.01
Median Household Income $29,250 ±$9,522
Median Rent $501 ±$41
Percentage Of Renters Overburdened 36.36% ± 17.72pp
Total Population 789

Population and Household Demographics

Shoals is a city in Martin County, Indiana with a population of 789. There are 387 households in the city with an average household size of 2.01 persons. 28.42% of households in Shoals are renters.

Income and Rent Overburden in Shoals

The median gross income for households in Shoals is $29,250 a year, or $2,438 a month. The median rent for the city is $501 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Shoals, a household making less than $1,670 a month would be considered overburdened when renting an apartment at or above the median rent. 36.36% of households who rent are overburdened in Shoals.

Area Median Income In Shoals

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 Shoals, the AMI is calculated from all households within Martin County.

In Shoals, HUD calculates the Area Median Income for a family of four as $68,400

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 Shoals

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 Shoals

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 Shoals AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,350 $17,420 $21,960 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Shoals AMI may qualify for rental assistance programs that target Very Low Income households.
$23,950 $27,400 $30,800 $34,200 $36,950 $39,700 $42,450 $45,150
80% AMI Income Limits
Renters earning up to 80% of the Shoals AMI may qualify for rental assistance programs that target Low Income households.
$38,300 $43,800 $49,250 $54,700 $59,100 $63,500 $67,850 $72,250