Affordable Housing In Madison Parish
15 Low Income Apartment Communities In Madison Parish
Guide To Affordable Housing in Madison Parish, Louisiana
There are 15 low income housing apartment communities offering 580 affordable apartments for rent in Madison Parish, Louisiana.
Income Based Apartments in Madison Parish, Louisiana
Madison Parish features 484 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 Madison Parish, Louisiana
There are 64 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison Parish.
Housing Choice Vouchers in Madison Parish, Louisiana
On average, Section 8 Housing Choice vouchers pay Madison Parish landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Madison Parish.
The maximum amount a voucher would pay on behalf of a low-income tenant in Madison Parish, Louisiana for a two-bedroom apartment is between $626 and $766.
2022 Madison Parish, 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|
|Madison Parish, Louisiana Fair Market Rent||$549||$552||$696||$989||$1,074|
|Madison Parish, Louisiana Payment Standard Range||$494 to $604||$497 to $607||$626 to $766||$890 to $1,088||$967 to $1,181|
Sourced from federal housing data and AffordableHousingOnline.com research.
Madison Parish, LA Affordable Housing Snapshot
|Total Affordable Apartment Properties||15|
|Total Low Income Apartments||580|
|Total Housing Units with Rental Assistance||484|
|Percentage of Housing Units Occupied By Renters||47.14%|
|Average Renter Household Size||2.53|
|Average Household Size||2.55|
|Median Household Income||$23,854 ±$2,595|
|Median Rent||$517 ±$40|
|Percentage Of Renters Overburdened||44.72% ± 7.15pp|
Population and Household Demographics
Madison Parish is a county in Louisiana with a population of 11,873. There are 4,060 households in the county with an average household size of 2.55 persons. 47.14% of households in Madison Parish are renters.
Income and Rent Overburden in Madison Parish
The median gross income for households in Madison Parish is $23,854 a year, or $1,988 a month. The median rent for the county is $517 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Madison Parish, a household making less than $1,723 a month would be considered overburdened when renting an apartment at or above the median rent. 44.72% of households who rent are overburdened in Madison Parish.
Area Median Income In Madison Parish
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 Madison Parish, HUD calculates the Area Median Income for a family of four as $34,500
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 Madison Parish
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 Madison Parish
|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 Madison Parish AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Madison Parish AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Madison Parish AMI may qualify for rental assistance programs that target Low Income households.