Affordable Housing In Takoma Park
Montgomery County, Maryland

11 Low Income Apartment Communities In Takoma Park

Victory Tower

7051 Carroll Ave
Takoma Park, MD
$900-1,514
Studio-1 BR
62+
Subsidized

Franklin Apartments

7620 Maple Ave
Takoma Park, MD
Subsidized

Silver Flower Homes Aka Mcch, Tbd

8316 Flower Ave
Takoma Park, MD
Accessible
Disabled Supportive Housing
Subsidized

Wash - Mclaughlin Christian

6501 Poplar Ave
Takoma Park, MD
62+
Accessible
Elderly Supportive Housing
Subsidized

Youth in Transition

8210 Houston Ct
Takoma Park, MD
Accessible
Disabled Supportive Housing
Subsidized

Essex House Apartments

7777 Maple Ave
Takoma Park, MD
HCV Welcome

Maple Towers, 7610

7610 Maple Ave
Takoma Park, MD
HCV Welcome

Takoma Park Preservation - Flower

8624 Flower Ave
Takoma Park, MD
HCV Welcome

Takoma Park Preservation - Houston

641 Houston Ave
Takoma Park, MD
HCV Welcome

Edinburgh House

7513 Maple Ave
Takoma Park, MD
HCV Welcome

Housing Authorities that serve Takoma Park

Housing Authority Programs
Housing Opportunities Commission of Montgomery County Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Takoma Park, Maryland

There are 11 low income housing apartment communities offering 690 affordable apartments for rent in Takoma Park, Maryland. Takoma Park features 398 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 292 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Takoma Park.

Sourced from federal housing data and AffordableHousingOnline.com research.

Takoma Park, MD Affordable Housing Snapshot

Total Affordable Apartment Properties 11
Total Low Income Apartments 690
Total Housing Units with Rental Assistance 398
Percentage of Housing Units Occupied By Renters 47.44%
Average Renter Household Size 2.42
Average Household Size 2.62
Median Household Income $82,735 ±$6,250
Median Rent $1,094 ±$41
Percentage Of Renters Overburdened 39.13% ± 6.48pp
Total Population 17,478

Population and Household Demographics

Takoma Park is a City in Montgomery County, Maryland with a population of 17,478. There are 6,524 households in the city with an average household size of 2.62 persons. 47.44% of households in Takoma Park are renters.

Income and Rent Overburden in Takoma Park

The median gross income for households in Takoma Park is $82,735 a year, or $6,895 a month. The median rent for the city is $1,094 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Takoma Park, a household making less than $3,647 a month would be considered overburdened when renting an apartment at or above the median rent. 39.13% of households who rent are overburdened in Takoma Park.1

Area Median Income In Takoma Park

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 Takoma Park, the AMI is calculated from all households within Montgomery County.

In Takoma Park, 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 Takoma Park

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 Takoma Park HUD Rental Assistance in Takoma Park

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
Low Income Housing Tax Credits in Takoma Park

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

From 1995 to 2012, 7 low income apartment communities containing 470 rental apartments have been constructed and made affordable to low income persons in Takoma Park by the Low Income Housing Tax Credit Program.

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.

Income Qualifications for Low Income Housing Tax Credit Apartments in Takoma Park

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $42,500 $48,550 $54,600 $60,650 $65,550 $70,400 $75,250 $80,100
60% of Median $51,000 $58,260 $65,520 $72,780 $78,660 $84,480 $90,300 $96,120

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 Takoma Park is $65,520 a year, or $5,460 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $5,460 by 30% to get a maximum rent of $1,638 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 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $1,063 $1,138 $1,365 $1,578 $1,760 $1,942
60% $1,275 $1,366 $1,638 $1,893 $2,112 $2,330
Fair Market Rents in Takoma Park

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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$1,457 $1,500 $1,707 $2,215 $2,707