Affordable Housing In Wakefield
Waiting List Openings In Wakefield
|Michigan State Housing Development Authority Housing Choice Voucher||Open Soon|
2 Low Income Apartment Communities In Wakefield
Housing Authorities that serve Wakefield
|Wakefield Housing Commission||Public Housing|
|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 Wakefield, Michigan
There are 2 low income housing apartment communities offering 94 affordable apartments for rent in Wakefield, Michigan.
Income Based Apartments in Wakefield, Michigan
Wakefield 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 Wakefield, Michigan
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Wakefield.
Housing Choice Vouchers in Wakefield, Michigan
On average, Section 8 Housing Choice vouchers pay Wakefield landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Wakefield.
The maximum amount a voucher would pay on behalf of a low-income tenant in Wakefield, Michigan for a two-bedroom apartment is between $661 and $807.
2021 Wakefield, 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|
|Wakefield, Michigan Fair Market Rent||$503||$611||$734||$1,050||$1,271|
|Wakefield, Michigan Payment Standard Range||$453 to $553||$550 to $672||$661 to $807||$945 to $1,155||$1,144 to $1,398|
Sourced from federal housing data and AffordableHousingOnline.com research.
Wakefield, MI Affordable Housing Snapshot
|Total Affordable Apartment Properties||2|
|Total Low Income Apartments||94|
|Total Housing Units with Rental Assistance||94|
|Percentage of Housing Units Occupied By Renters||24.25%|
|Average Renter Household Size||1.89|
|Average Household Size||2.07|
|Median Household Income||$38,942 ±$5,049|
|Median Rent||$482 ±$88|
|Percentage Of Renters Overburdened||48.66% ± 18.91pp|
Population and Household Demographics
Wakefield is a city in Gogebic County, Michigan with a population of 1,729. There are 771 households in the city with an average household size of 2.07 persons. 24.25% of households in Wakefield are renters.
Income and Rent Overburden in Wakefield
The median gross income for households in Wakefield is $38,942 a year, or $3,245 a month. The median rent for the city is $482 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wakefield, a household making less than $1,607 a month would be considered overburdened when renting an apartment at or above the median rent. 48.66% of households who rent are overburdened in Wakefield.
Area Median Income In Wakefield
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 Wakefield, the AMI is calculated from all households within Gogebic County.
In Wakefield, HUD calculates the Area Median Income for a family of four as $54,500
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 Wakefield
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 Wakefield
|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 Wakefield AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Wakefield AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Wakefield AMI may qualify for rental assistance programs that target Low Income households.