Affordable Housing In Preston
Caroline County, Maryland

Affordable Housing programs support 0 income based apartments in Preston where households pay rent based on how much they earn.

There are 0 affordable apartments in Preston that offer reduced rents to low-income households.

Waiting Lists in Preston, Maryland

There are no open Section 8 Housing Choice Voucher waiting lists in Preston. Go to the Maryland Section 8 Waiting Lists page for openings near Preston.

Affordable Housing Near Preston

View affordable apartments and waiting lists in cities near Preston

City Apartments
Affordable Housing In Denton, MD Affordable Housing programs support 7 apartment communities in Denton.
Affordable Housing In Federalsburg, MD Affordable Housing programs support 11 apartment communities in Federalsburg.
Affordable Housing In Greensboro, MD Affordable Housing programs support 3 apartment communities in Greensboro.
Affordable Housing In Ridgely, MD Affordable Housing programs support 3 apartment communities in Ridgely.

Public Housing Agencies Serving Preston, Maryland

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Housing Authority Programs
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)
Go to the Maryland Public Housing and Low-Income Apartments Waiting Lists page for openings near Preston.

Preston, Maryland Affordable Housing Data

Income Based Apartments in Preston, Maryland

Preston 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 Preston, Maryland

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

Housing Choice Vouchers in Preston, Maryland

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Preston, Maryland for a two-bedroom apartment is between $947 and $1,157.

2023 Preston, 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
Preston, Maryland Fair Market Rent $794 $800 $1,052 $1,426 $1,790
Preston, Maryland Payment Standard Range $715 to $873 $720 to $880 $947 to $1,157 $1,283 to $1,569 $1,611 to $1,969

Sourced from federal housing data and research.

Preston, MD Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 37.96%
Average Renter Household Size 3.31
Average Household Size 2.89
Median Household Income $62,500 ±$11,500
Median Rent $1,043 ±$292
Percentage Of Renters Overburdened 43.09% ± 24.66pp
Total Population 936

Population and Household Demographics

Preston is a city in Caroline County, Maryland with a population of 936. There are 324 households in the city with an average household size of 2.89 persons. 37.96% of households in Preston are renters.

Income and Rent Overburden in Preston

The median gross income for households in Preston is $62,500 a year, or $5,208 a month. The median rent for the city is $1,043 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Preston, a household making less than $3,477 a month would be considered overburdened when renting an apartment at or above the median rent. 43.09% of households who rent are overburdened in Preston.

Area Median Income In Preston

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 Preston, the AMI is calculated from all households within Caroline County.

In Preston, HUD calculates the Area Median Income for a family of four as $77,700

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 Preston

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 Preston

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 Preston AMI may qualify for rental assistance programs that target Extremely Low Income households.
$16,950 $19,350 $23,030 $27,750 $32,470 $37,190 $41,910 $46,630
50% AMI Income Limits
Renters earning up to 50% of the Preston AMI may qualify for rental assistance programs that target Very Low Income households.
$28,200 $32,200 $36,250 $40,250 $43,500 $46,700 $49,950 $53,150
80% AMI Income Limits
Renters earning up to 80% of the Preston AMI may qualify for rental assistance programs that target Low Income households.
$45,100 $51,550 $58,000 $64,400 $69,600 $74,750 $79,900 $85,050