Affordable Housing In Algonac
St Clair County,
4 Low Income Apartment Communities In Algonac
Housing Authorities that serve Algonac
|Algonac Housing Commission||Public Housing|
|Detroit Housing Commission||Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Family Self-Sufficiency; Section 8 Project-Based Voucher (PBV); Moderate Rehabilitation; Family Unification Program (FUP)|
|Michigan State Housing Development Authority||Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV)|
Guide To Affordable Housing in Algonac, Michigan
There are 4 low income housing apartment communities offering 144 affordable apartments for rent in Algonac, Michigan.
Income Based Apartments in Algonac, Michigan
Algonac features 94 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 Algonac, Michigan
There are 50 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Algonac.
Housing Choice Vouchers in Algonac, Michigan
On average, Section 8 Housing Choice vouchers pay Algonac landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Algonac.
The maximum amount a voucher would pay on behalf of a low-income tenant in Algonac, Michigan for a two-bedroom apartment is between $944 and $1,154.
2021 Algonac, Michigan 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|
|Algonac, Michigan Fair Market Rent||$697||$821||$1,049||$1,344||$1,458|
|Algonac, Michigan Payment Standard Range||$627 to $767||$739 to $903||$944 to $1,154||$1,210 to $1,478||$1,312 to $1,604|
Sourced from federal housing data and AffordableHousingOnline.com research.
Algonac, MI Affordable Housing Snapshot
|Total Affordable Apartment Properties||4|
|Total Low Income Apartments||144|
|Total Housing Units with Rental Assistance||94|
|Percentage of Housing Units Occupied By Renters||35.12%|
|Average Renter Household Size||1.68|
|Average Household Size||2.06|
|Median Household Income||$40,733 ±$7,177|
|Median Rent||$699 ±$51|
|Percentage Of Renters Overburdened||49.34% ± 16.47pp|
Population and Household Demographics
Algonac is a city in St Clair County, Michigan with a population of 4,063. There are 1,956 households in the city with an average household size of 2.06 persons. 35.12% of households in Algonac are renters.
Income and Rent Overburden in Algonac
The median gross income for households in Algonac is $40,733 a year, or $3,394 a month. The median rent for the city is $699 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Algonac, a household making less than $2,330 a month would be considered overburdened when renting an apartment at or above the median rent. 49.34% of households who rent are overburdened in Algonac.
Area Median Income In Algonac
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 Algonac, the AMI is calculated from all households within St Clair County.
In Algonac, HUD calculates the Area Median Income for a family of four as $80,000
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 Algonac
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 Algonac
|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 Algonac AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Algonac AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Algonac AMI may qualify for rental assistance programs that target Low Income households.