Affordable Housing In Wayne County
Iowa
5 Low Income Apartment Communities In Wayne County
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There are 5 low income housing apartment complexes which contain 652 affordable apartments for rent in Wayne County. Many of these rental apartments are income based housing with 652 apartments that set rent based on your income. In Wayne County, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 0 other low income apartments that don't have rental assistance but are cheaper than market rate rents.
Housing Authorities that serve Wayne County
| Housing Authority | Programs |
|---|---|
| Area XV Multi-County Housing Agency | Section 8 Housing Choice Voucher (HCV); Public Housing |
Guide To Affordable Housing in Wayne County, Iowa
Wayne County, IA Affordable Housing Snapshot
| Total Affordable Apartment Properties | 5 |
|---|---|
| Total Low Income Apartments | 652 |
| Total Rent Assisted Apartments | 652 |
| Percentage of Housing Units Occupied By Renters | 18.72% |
| Average Renter Household Size | 2.28 |
| Total Population | 6,384 |
| Housing Units | 2,596 |
| Average Household Size | 2.41 |
| Median Household Income | $43,358 ±$2,705 |
| Median Rent | $476 ±$34 |
| Percentage Of Renters Overburdened | 23.66% ± 6.56pp |
Population and Household Demographics
Wayne County is a County in Iowa with a population of 6,384. There are 2,596 households in the county with an average household size of 2.41 persons. 18.72% of households in Wayne County are renters.
Income and Rent Overburden in Wayne County
The median gross income for households in Wayne County is $43,358 a year, or $3,613 a month. The median rent for the county is $476 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wayne County, a household making less than $1,587 a month would be considered overburdened when renting an apartment at or above the median rent. 23.66% of households who rent are overburdened in Wayne County.1
Area Median Income In Wayne County
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.
In Wayne County, HUD calculates the Area Median Income for a family of four as $59,100
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 Wayne County
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 Wayne County HUD Rental Assistance in Wayne County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% of Median | $14,600 | $16,910 | $21,330 | $25,750 | $30,170 | $34,590 | $39,010 | $43,430 |
| 50% of Median | $24,300 | $27,800 | $31,250 | $34,700 | $37,500 | $40,300 | $43,050 | $45,850 |
| 80% of Median | $38,850 | $44,400 | $49,950 | $55,500 | $59,950 | $64,400 | $68,850 | $73,300 |
If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.
Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.
Income Qualifications for Low Income Housing Tax Credit Apartments in Wayne County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 50% of Median | $24,300 | $27,800 | $31,250 | $34,700 | $37,500 | $40,300 | $43,050 | $45,850 |
| 60% of Median | $29,160 | $33,360 | $37,500 | $41,640 | $45,000 | $48,360 | $51,660 | $55,020 |
For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Wayne County is $37,500 a year, or $3,125 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,125 by 30% to get a maximum rent of $938 a month.
Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.
| % of AMI | Studio | 1 Bed | 2 Bed | 3 Bed | 4 Bed | 5 Bed |
|---|---|---|---|---|---|---|
| 50% | $608 | $651 | $781 | $903 | $1,008 | $1,111 |
| 60% | $729 | $782 | $938 | $1,083 | $1,209 | $1,334 |
Fair Market Rents in Wayne County
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.
2019 Fair Market Rents
| Studio | One BR | Two BR | Three BR | Four BR |
|---|---|---|---|---|
| $481 | $502 | $664 | $885 | $898 |
Cities In Wayne County
Select A City to View its Apartment Communities and Waiting Lists.
| City | Listings | Served By |
|---|---|---|
| Lineville | 1 | The HUD funded Public Housing Agency that serves Lineville is the Area XV Multi-County Housing Agency. |
| Corydon | 1 | The HUD funded Public Housing Agency that serves Corydon is the Area XV Multi-County Housing Agency. |
| Humeston | 1 | The HUD funded Public Housing Agency that serves Humeston is the Area XV Multi-County Housing Agency. |
| Seymour | 1 | The HUD funded Public Housing Agency that serves Seymour is the Area XV Multi-County Housing Agency. |
| Allerton | 1 | The HUD funded Public Housing Agency that serves Allerton is the Area XV Multi-County Housing Agency. |
| Clio | 0 | The HUD funded Public Housing Agency that serves Clio is the Area XV Multi-County Housing Agency. |
| Millerton | 0 | The HUD funded Public Housing Agency that serves Millerton is the Area XV Multi-County Housing Agency. |
| Promise City | 0 | The HUD funded Public Housing Agency that serves Promise City is the Area XV Multi-County Housing Agency. |
