Affordable Housing In Monson
Piscataquis County,Maine

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There are 1 low income housing apartment complexes which contain 24 affordable apartments for rent in Monson, Maine. Many of these rental apartments are income based housing with about 0 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 0 Project-Based Section 8 subsidized apartments in Monson. There are 24 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 Monson is the Maine State Housing Authority.

Affordable Apartments in Monson

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Routes 6 And 15
Monson, Maine
Monson Monson Elderly Apartments is a 24 unit low income housing apartment community in Monson.
Apartments in this community are not rent subsidized. However, this apartment community has rents considered affordable for low income families in Monson.
Low Income Housing Tax Credit
Accepts Housing Choice Vouchers
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Housing Authorities that serve Monson

The Maine State Housing Authority is a Section 8 public housing agency in Augusta, Maine.

Understanding Affordable Housing in Monson, Maine

Area Median Income In Monson

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 Monson, the AMI is calculated from all households within Piscataquis County.

In Monson, HUD calculates the Area Median Income for a family of four as $48,200

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 Monson

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.

Monson HUD Rental Assistance Income Limits

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person
30%$12,060$16,240$20,420$24,600$28,780$32,450$34,700$36,900
50%$19,600$22,400$25,200$27,950$30,200$32,450$34,700$36,900
80%$31,300$35,800$40,250$44,700$48,300$51,900$55,450$59,050

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 Monson

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

From 1991 to 1991, 1 low income apartment communities containing 24 rental apartments have been constructed and made affordable to low income persons in Monson by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Monson 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.

Monson Low Income Housing Tax Credit Income Limits

AMI Band1 Person2 Person3 Person4 Person5 Person6 Person7 Person8 Person
50%$19,600$22,400$25,200$27,950$30,200$32,450$34,700$36,900
HERA 50%$19,950$22,800$25,650$28,500$30,800$33,100$35,350$37,650
60%$23,520$26,880$30,240$33,540$36,240$38,940$41,640$44,280
HERA 60%$23,940$27,360$30,780$34,200$36,960$39,720$42,420$45,180

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 Monson is $30,240 a year, or $2,520 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,520 by 30% to get a maximum rent of $756 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 AMIStudio2 Bed3 Bed4 Bed1 Bed5 Bed
50%$490$525$630$727$811$895
60%$588$630$756$872$974$1,074
Fair Market Rents in Monson

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
StudioOne BRTwo BRThree BRFour BR
$541$590$681$991$1,023