Affordable Housing In Lake Orion
2 Low Income Apartment Communities In Lake Orion
Housing Authorities that serve Lake Orion
|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)|
|Ferndale Housing Commission||Section 8 Housing Choice Voucher (HCV); Public Housing|
Guide To Affordable Housing in Lake Orion, Michigan
There are 2 low income housing apartment communities offering 78 affordable apartments for rent in Lake Orion, Michigan.
Income Based Apartments in Lake Orion, Michigan
Lake Orion features 78 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 Lake Orion, Michigan
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Lake Orion.
Housing Choice Vouchers in Lake Orion, Michigan
On average, Section 8 Housing Choice vouchers pay Lake Orion landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Lake Orion.
The maximum amount a voucher would pay on behalf of a low-income tenant in Lake Orion, Michigan for a two-bedroom apartment is between $944 and $1,154.
2021 Lake Orion, 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|
|Lake Orion, Michigan Fair Market Rent||$697||$821||$1,049||$1,344||$1,458|
|Lake Orion, 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.
Lake Orion, MI Affordable Housing Snapshot
|Total Affordable Apartment Properties||2|
|Total Low Income Apartments||78|
|Total Housing Units with Rental Assistance||78|
|Percentage of Housing Units Occupied By Renters||36.53%|
|Average Renter Household Size||1.90|
|Average Household Size||2.28|
|Median Household Income||$69,813 ±$8,313|
|Median Rent||$752 ±$177|
|Percentage Of Renters Overburdened||55.98% ± 15.5pp|
Population and Household Demographics
Lake Orion is a city in Oakland County, Michigan with a population of 3,038. There are 1,281 households in the city with an average household size of 2.28 persons. 36.53% of households in Lake Orion are renters.
Income and Rent Overburden in Lake Orion
The median gross income for households in Lake Orion is $69,813 a year, or $5,818 a month. The median rent for the city is $752 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Lake Orion, a household making less than $2,507 a month would be considered overburdened when renting an apartment at or above the median rent. 55.98% of households who rent are overburdened in Lake Orion.
Area Median Income In Lake Orion
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 Lake Orion, the AMI is calculated from all households within Oakland County.
In Lake Orion, 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 Lake Orion
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 Lake Orion
|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 Lake Orion AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Lake Orion AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Lake Orion AMI may qualify for rental assistance programs that target Low Income households.