Affordable Housing In Franklin Center
Housing Authorities that serve Franklin Center
|Maryland Department of Housing and Community Development||Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency; Homeownership; Section 8 HCV Money Follows the Person (MFP)|
Guide To Affordable Housing in Franklin Center, Maryland
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Franklin Center, Maryland.
Income Based Apartments in Franklin Center, Maryland
Franklin Center features 0 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 Franklin Center, Maryland
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Franklin Center.
Housing Choice Vouchers in Franklin Center, Maryland
On average, Section 8 Housing Choice vouchers pay Franklin Center landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Franklin Center.
The maximum amount a voucher would pay on behalf of a low-income tenant in Franklin Center, Maryland for a two-bedroom apartment is between $666 and $814.
2020 Franklin Center, Maryland 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||$501||$647||$740||$1,030||$1,151|
|Payment Standard Range||$451 to $551||$582 to $712||$666 to $814||$927 to $1,133||$1,036 to $1,266|
Sourced from federal housing data and AffordableHousingOnline.com research.
Area Median Income In Franklin Center
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 Franklin Center, the AMI is calculated from all households within Somerset County.
In Franklin Center, HUD calculates the Area Median Income for a family of four as $49,800
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 Franklin Center
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 Franklin Center HUD Rental Assistance in Franklin Center
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$14,350||$16,910||$21,330||$25,750||$30,170||$34,590||$39,010||$43,430|
|50% of Median||$23,950||$27,400||$30,800||$34,200||$36,950||$39,700||$42,450||$45,150|
|80% of Median||$38,300||$43,800||$49,250||$54,700||$59,100||$63,500||$67,850||$72,250|