Affordable Housing In Skidway Lake
1 Low Income Apartment Communities In Skidway Lake
Guide To Affordable Housing in Skidway Lake, Michigan
There are 1 low income housing apartment communities offering 34 affordable apartments for rent in Skidway Lake, Michigan.
Income Based Apartments in Skidway Lake, Michigan
Skidway Lake features 34 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 Skidway Lake, Michigan
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Skidway Lake.
Housing Choice Vouchers in Skidway Lake, Michigan
On average, Section 8 Housing Choice vouchers pay Skidway Lake landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Skidway Lake.
The maximum amount a voucher would pay on behalf of a low-income tenant in Skidway Lake, Michigan for a two-bedroom apartment is between $681 and $833.
2022 Skidway Lake, 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|
|Skidway Lake, Michigan Fair Market Rent||$582||$664||$757||$958||$1,055|
|Skidway Lake, Michigan Payment Standard Range||$524 to $640||$598 to $730||$681 to $833||$862 to $1,054||$950 to $1,161|
Sourced from federal housing data and AffordableHousingOnline.com research.
Skidway Lake, MI Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||34|
|Total Housing Units with Rental Assistance||34|
|Percentage of Housing Units Occupied By Renters||21.31%|
|Average Renter Household Size||2.89|
|Average Household Size||2.21|
|Median Household Income||$22,384 ±$4,860|
|Median Rent||$708 ±$117|
|Percentage Of Renters Overburdened||66.77% ± 15.58pp|
Population and Household Demographics
Skidway Lake is a city in Ogemaw County, Michigan with a population of 3,340. There are 1,511 households in the city with an average household size of 2.21 persons. 21.31% of households in Skidway Lake are renters.
Income and Rent Overburden in Skidway Lake
The median gross income for households in Skidway Lake is $22,384 a year, or $1,865 a month. The median rent for the city is $708 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Skidway Lake, a household making less than $2,360 a month would be considered overburdened when renting an apartment at or above the median rent. 66.77% of households who rent are overburdened in Skidway Lake.
Area Median Income In Skidway Lake
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 Skidway Lake, the AMI is calculated from all households within Ogemaw County.
In Skidway Lake, HUD calculates the Area Median Income for a family of four as $55,400
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 Skidway Lake
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 Skidway Lake
|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 Skidway Lake AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Skidway Lake AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Skidway Lake AMI may qualify for rental assistance programs that target Low Income households.