Affordable Housing In Taylors Island
Dorchester County, Maryland

There are 0 low income housing apartment complexes which contain 0 affordable apartments for rent in Taylors Island. Many of these rental apartments are income based housing with 0 apartments that set rent based on your income. In Taylors Island, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 0 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Housing Authorities that serve Taylors Island

Housing Authority Programs
Maryland Department of Housing and Community Development Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Taylors Island, Maryland

Taylors Island, MD Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Rent Assisted Apartments 0
Percentage of Housing Units Occupied By Renters 17.95%
Average Renter Household Size 0.00
Total Population 195
Housing Units 78
Average Household Size 2.50
Median Household Income $54,583 ±$28,312
Median Rent $0 ±$0
Percentage Of Renters Overburdened 0% ± 171.43pp

Population and Household Demographics

Taylors Island is a City in Dorchester County, Maryland with a population of 195. There are 78 households in the city with an average household size of 2.50 persons. 17.95% of households in Taylors Island are renters.

Income and Rent Overburden in Taylors Island

The median gross income for households in Taylors Island is $54,583 a year, or $4,549 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Taylors Island, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 0% of households who rent are overburdened in Taylors Island.1

Area Median Income In Taylors Island

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 Taylors Island, the AMI is calculated from all households within Dorchester County.

In Taylors Island, HUD calculates the Area Median Income for a family of four as $65,500

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 Taylors Island

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 Taylors Island HUD Rental Assistance in Taylors Island

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

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 Taylors Island

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $23,950 $27,400 $30,800 $34,200 $36,950 $39,700 $42,450 $45,150
60% of Median $28,740 $32,880 $36,960 $41,040 $44,340 $47,640 $50,940 $54,180

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 Taylors Island is $36,960 a year, or $3,080 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,080 by 30% to get a maximum rent of $924 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% $599 $642 $770 $889 $993 $1,095
60% $719 $770 $924 $1,067 $1,191 $1,314
Fair Market Rents in Taylors Island

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.

2019 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$754 $773 $886 $1,220 $1,283