Affordable Housing In King of Prussia
Montgomery County, Maryland

Guide To Affordable Housing in King of Prussia, Maryland

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in King of Prussia, Maryland.

Income Based Apartments in King of Prussia, Maryland

King of Prussia 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 King of Prussia, Maryland

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in King of Prussia.

Housing Choice Vouchers in King of Prussia, Maryland

On average, Section 8 Housing Choice vouchers pay King of Prussia landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in King of Prussia.

The maximum amount a voucher would pay on behalf of a low-income tenant in King of Prussia, Maryland for a two-bedroom apartment is between $1,536 and $1,878.

2020 King of Prussia, 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 $1,457 $1,500 $1,707 $2,215 $2,707
Payment Standard Range $1,311 to $1,603 $1,350 to $1,650 $1,536 to $1,878 $1,994 to $2,437 $2,436 to $2,978

Sourced from federal housing data and AffordableHousingOnline.com research.

Area Median Income In King of Prussia

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 King of Prussia, the AMI is calculated from all households within Montgomery County.

In King of Prussia, HUD calculates the Area Median Income for a family of four as $121,300

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 King of Prussia

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 King of Prussia

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $25,500 $29,150 $32,800 $36,400 $39,350 $42,250 $45,150 $48,050
50% of Median $42,500 $48,550 $54,600 $60,650 $65,550 $70,400 $75,250 $80,100
80% of Median $54,350 $62,100 $69,850 $77,600 $83,850 $90,050 $96,250 $102,450