Affordable Housing In Golden Meadow
1 Low Income Apartment Communities In Golden Meadow
Guide To Affordable Housing in Golden Meadow, Louisiana
There are 1 low income housing apartment communities offering 276 affordable apartments for rent in Golden Meadow, Louisiana.
Income Based Apartments in Golden Meadow, Louisiana
Golden Meadow features 276 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 Golden Meadow, Louisiana
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Golden Meadow.
Housing Choice Vouchers in Golden Meadow, Louisiana
On average, Section 8 Housing Choice vouchers pay Golden Meadow landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Golden Meadow.
The maximum amount a voucher would pay on behalf of a low-income tenant in Golden Meadow, Louisiana for a two-bedroom apartment is between $786 and $960.
2020 Golden Meadow, Louisiana 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||$686||$690||$873||$1,206||$1,449|
|Payment Standard Range||$617 to $755||$621 to $759||$786 to $960||$1,085 to $1,327||$1,304 to $1,594|
Sourced from federal housing data and AffordableHousingOnline.com research.
Golden Meadow, LA Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||276|
|Total Housing Units with Rental Assistance||276|
|Percentage of Housing Units Occupied By Renters||30.35%|
|Average Renter Household Size||2.68|
|Average Household Size||2.53|
|Median Household Income||$52,938 ±$8,303|
|Median Rent||$575 ±$312|
|Percentage Of Renters Overburdened||28.04% ± 16.83pp|
Population and Household Demographics
Golden Meadow is a City in Lafourche Parish, Louisiana with a population of 1,783. There are 705 households in the city with an average household size of 2.53 persons. 30.35% of households in Golden Meadow are renters.
Income and Rent Overburden in Golden Meadow
The median gross income for households in Golden Meadow is $52,938 a year, or $4,412 a month. The median rent for the city is $575 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Golden Meadow, a household making less than $1,917 a month would be considered overburdened when renting an apartment at or above the median rent. 28.04% of households who rent are overburdened in Golden Meadow.1
Area Median Income In Golden Meadow
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 Golden Meadow, the AMI is calculated from all households within Lafourche Parish.
In Golden Meadow, HUD calculates the Area Median Income for a family of four as $60,800
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 Golden Meadow
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 Golden Meadow
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,800||$16,910||$21,330||$25,750||$30,170||$34,590||$37,700||$40,150|
|50% of Median||$21,300||$24,350||$27,400||$30,400||$32,850||$35,300||$37,700||$40,150|
|80% of Median||$34,100||$38,950||$43,800||$48,650||$52,550||$56,450||$60,350||$64,250|