Affordable Housing In Raceland
Lafourche Parish, Louisiana

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There are 1 low income housing apartment complexes which contain 48 affordable apartments for rent in Raceland, Louisiana. Many of these rental apartments are income based housing with about 48 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 0 Project-Based Section 8 subsidized apartments in Raceland. There are 48 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

The HUD funded Public Housing Agency that serves Raceland is the Lafourche Parish Housing Authority.

Affordable Apartments in Raceland

100 Sycamore St
Raceland, Louisiana
Elizabeth Square Apartments is a 48 unit low income housing apartment community in Raceland.
Some or all apartments in this community are rent subsidized, which means rent is income based.
Low Income Housing Tax Credit Rural Development Rental Assistance Project Based Rental Assistance Accepts Housing Choice Vouchers
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Housing Authorities that serve Raceland

The Lafourche Parish Housing Authority is a Section 8 public housing agency in Raceland, Louisiana.

Other Housing Authorities located in Raceland

The Housing Authority of Lafourche Parish is a Public Housing public housing agency in Raceland, Louisiana.

Understanding Affordable Housing in Raceland, Louisiana

Raceland, LA Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 48
Total Rent Assisted Apartments 48
Percentage of Housing Units Occupied By Renters 19.96%
Average Renter Household Size 2.46
Total Population 10,556
Housing Units 3,933
Average Household Size 2.66
Median Household Income $41,987 ±$4,924
Median Rent $692 ±$74
Percentage Of Renters Overburdened 31.85% ± 12.18pp

Population and Household Demographics

Raceland is a City in Lafourche Parish, Louisiana with a population of 10,556. There are 3,933 households in the city with an average household size of 2.66 persons. 19.96% of households in Raceland are renters.

Income and Rent Overburden in Raceland

The median gross income for households in Raceland is $41,987 a year, or $3,499 a month. The median rent for the city is $692 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Raceland, a household making less than $2,307 a month would be considered overburdened when renting an apartment at or above the median rent. 31.85% of households who rent are overburdened in Raceland.1

Data derived from 2010 Census and 2015 5-Year American Community Survey. Learn More.
1 Margin of Error: ± 12.18 percentage points.

Area Median Income In Raceland

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 Raceland, the AMI is calculated from all households within Lafourche Parish.

In Raceland, HUD calculates the Area Median Income for a family of four as $55,900

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 Raceland

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.

Raceland HUD Rental Assistance Income Limits

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,350 $16,240 $20,420 $24,600 $28,780 $32,960 $36,350 $38,700
50% $20,550 $23,450 $26,400 $29,300 $31,650 $34,000 $36,350 $38,700
80% $32,850 $37,550 $42,250 $46,900 $50,700 $54,450 $58,200 $61,950

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

Low Income Housing Tax Credits in Raceland

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1993 to 1993, 1 low income apartment communities containing 48 rental apartments have been constructed and made affordable to low income persons in Raceland by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Raceland by looking for the tag in the apartment list above. View Apartments.

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.

Raceland Low Income Housing Tax Credit Income Limits

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% $20,550 $23,450 $26,400 $29,300 $31,650 $34,000 $36,350 $38,700
HERA 50% $23,000 $26,250 $29,550 $32,800 $35,450 $38,050 $40,700 $43,300
60% $24,660 $28,140 $31,680 $35,160 $37,980 $40,800 $43,620 $46,440
HERA 60% $27,600 $31,500 $35,460 $39,360 $42,540 $45,660 $48,840 $51,960

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 Raceland is $31,680 a year, or $2,640 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,640 by 30% to get a maximum rent of $792 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 2 Bed 3 Bed 4 Bed 1 Bed 5 Bed
50% $514 $550 $660 $762 $850 $938
60% $617 $660 $792 $914 $1,020 $1,126
Fair Market Rents in Raceland

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.

2017 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$662 $666 $869 $1,198 $1,449