Affordable Housing In Spencer
Owen County, Indiana

5 Low Income Apartment Communities In Spencer

Greenbriar Senior Apartments

770 E Franklin St
Spencer, Indiana
Income Based
1 BR

Williamsburg Apartments Spencer

1 N Main St
Spencer, Indiana

Sweet Owen

410 E Jefferson St
Spencer, Indiana

Rusty Manor

53 E Wayne St
Spencer, Indiana

Pines Apartments of Spencer

25 Pines Drive
Spencer, Indiana
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Section 8 Vouchers, Apartments, and Waiting Lists in Spencer, 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 Spencer, Indiana

Housing Authority Programs
South Central Community Action Program Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Spencer, Indiana

There are 5 low income housing apartment communities offering 152 affordable apartments for rent in Spencer, Indiana.

Income Based Apartments in Spencer, Indiana

Spencer features 122 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 Spencer, Indiana

There are 30 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Spencer.

Housing Choice Vouchers in Spencer, Indiana

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Spencer, Indiana for a two-bedroom apartment is between $681 and $833.

2022 Spencer, 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
Spencer, Indiana Fair Market Rent $578 $582 $757 $1,075 $1,296
Spencer, Indiana Payment Standard Range $520 to $636 $524 to $640 $681 to $833 $968 to $1,183 $1,166 to $1,426

Sourced from federal housing data and research.

Spencer, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 152
Total Housing Units with Rental Assistance 122
Percentage of Housing Units Occupied By Renters 45.02%
Average Renter Household Size 2.38
Average Household Size 2.21
Median Household Income $29,926 ±$5,310
Median Rent $580 ±$63
Percentage Of Renters Overburdened 33.68% ± 9.98pp
Total Population 2,374

Population and Household Demographics

Spencer is a city in Owen County, Indiana with a population of 2,374. There are 1,055 households in the city with an average household size of 2.21 persons. 45.02% of households in Spencer are renters.

Income and Rent Overburden in Spencer

The median gross income for households in Spencer is $29,926 a year, or $2,494 a month. The median rent for the city is $580 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Spencer, a household making less than $1,933 a month would be considered overburdened when renting an apartment at or above the median rent. 33.68% of households who rent are overburdened in Spencer.

Area Median Income In Spencer

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 Spencer, the AMI is calculated from all households within Owen County.

In Spencer, HUD calculates the Area Median Income for a family of four as $62,800

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 Spencer

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 Spencer

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 Spencer AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,050 $17,420 $21,960 $26,500 $31,040 $35,580 $40,120 $44,100
50% AMI Income Limits
Renters earning up to 50% of the Spencer AMI may qualify for rental assistance programs that target Very Low Income households.
$23,400 $26,750 $30,100 $33,400 $36,100 $38,750 $41,450 $44,100
80% AMI Income Limits
Renters earning up to 80% of the Spencer AMI may qualify for rental assistance programs that target Low Income households.
$37,450 $42,800 $48,150 $53,450 $57,750 $62,050 $66,300 $70,600