Affordable Housing In Grand Traverse County
21 Low Income Apartment Communities In Grand Traverse County
Housing Authorities that serve Grand Traverse County
|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)|
|Traverse City Housing Commission||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Grand Traverse County, Michigan
There are 21 low income housing apartment communities offering 1,635 affordable apartments for rent in Grand Traverse County, Michigan.
Income Based Apartments in Grand Traverse County, Michigan
Grand Traverse County features 742 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 Grand Traverse County, Michigan
There are 882 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Grand Traverse County.
Housing Choice Vouchers in Grand Traverse County, Michigan
On average, Section 8 Housing Choice vouchers pay Grand Traverse County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Grand Traverse County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Grand Traverse County, Michigan for a two-bedroom apartment is between $899 and $1,099.
2021 Grand Traverse County, 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|
|Grand Traverse County, Michigan Fair Market Rent||$685||$847||$999||$1,286||$1,480|
|Grand Traverse County, Michigan Payment Standard Range||$617 to $754||$762 to $932||$899 to $1,099||$1,157 to $1,415||$1,332 to $1,628|
Sourced from federal housing data and AffordableHousingOnline.com research.
Grand Traverse County, MI Affordable Housing Snapshot
|Total Affordable Apartment Properties||21|
|Total Low Income Apartments||1,635|
|Total Housing Units with Rental Assistance||742|
|Percentage of Housing Units Occupied By Renters||23.75%|
|Average Renter Household Size||2.22|
|Average Household Size||2.46|
|Median Household Income||$52,950 ±$1,821|
|Median Rent||$859 ±$23|
|Percentage Of Renters Overburdened||45.93% ± 4.14pp|
Population and Household Demographics
Grand Traverse County is a county in Michigan with a population of 89,907. There are 35,082 households in the county with an average household size of 2.46 persons. 23.75% of households in Grand Traverse County are renters.
Income and Rent Overburden in Grand Traverse County
The median gross income for households in Grand Traverse County is $52,950 a year, or $4,413 a month. The median rent for the county is $859 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grand Traverse County, a household making less than $2,863 a month would be considered overburdened when renting an apartment at or above the median rent. 45.93% of households who rent are overburdened in Grand Traverse County.
Area Median Income In Grand Traverse County
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.
In Grand Traverse County, HUD calculates the Area Median Income for a family of four as $89,700
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 Grand Traverse County
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 Grand Traverse County
|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 Grand Traverse County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Grand Traverse County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Grand Traverse County AMI may qualify for rental assistance programs that target Low Income households.
Cities In Grand Traverse County
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