Affordable Housing In Waterford Township
Oakland County, Michigan

8 Low Income Apartment Communities In Waterford Township

Lakeland Place

2700 Elizabeth Lake Road
Waterford Township, MI
Call For Rent
1-2 BR
Subsidized

Springhill 2

4941 Reynolds Ct
Waterford Township, MI
Accessible
Disabled Supportive Housing
Subsidized

Whispering Woods Apartments

1450 Whispering Woods
Waterford Township, MI
Subsidized

Waterford Meadows

834 W Alpha Pkwy
Waterford Township, MI
Subsidized

Springhill 3

7630 Elizabeth Lake Rd
Waterford Township, MI
Accessible
Disabled Supportive Housing
Subsidized

Pine Lake Apartments

3620 Windmill Dr
Waterford Township, MI
HCV Welcome

Waterford West Apartments

7380 Arbor Trl
Waterford Township, MI
HCV Welcome

Riverside Gardens

1407 Skipper Dr
Waterford Township, MI
HCV Welcome
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Housing Authorities that serve Waterford Township

Housing Authority Programs
Detroit Housing Commission Section 8 Housing Choice Voucher (HCV); 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)
Plymouth Housing Commission Section 8 Housing Choice Voucher (HCV); Public Housing; Family Self-Sufficiency; Rental Assistance Demonstration (RAD); Family Unification Program (FUP)
Ferndale Housing Commission Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Waterford Township, Michigan

There are 8 low income housing apartment communities offering 1,016 affordable apartments for rent in Waterford Township, Michigan. Waterford Township features 647 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 369 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Waterford Township.

Sourced from federal housing data and AffordableHousingOnline.com research.

Waterford Township, MI Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 1,016
Total Housing Units with Rental Assistance 647
Percentage of Housing Units Occupied By Renters %
Average Renter Household Size 0.00
Average Household Size 0.00
Median Household Income $0 ±$0
Median Rent $0 ±$0
Total Population 0

Population and Household Demographics

Waterford Township is a City in Oakland County, Michigan with a population of 0. There are 0 households in the city with an average household size of 0.00 persons. % of households in Waterford Township are renters.

Income and Rent Overburden in Waterford Township

The median gross income for households in Waterford Township is $0 a year, or $0 a month. The median rent for the city is $0 a month.

Area Median Income In Waterford Township

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 Waterford Township, the AMI is calculated from all households within Oakland County.

In Waterford Township, HUD calculates the Area Median Income for a family of four as $76,300

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 Waterford Township

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 Waterford Township HUD Rental Assistance in Waterford Township

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,050 $18,350 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $26,750 $30,550 $34,350 $38,150 $41,250 $44,300 $47,350 $50,400
80% of Median $42,750 $48,850 $54,950 $61,050 $65,950 $70,850 $75,750 $80,600
Low Income Housing Tax Credits in Waterford Township

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1998 to 2008, 4 low income apartment communities containing 493 rental apartments have been constructed and made affordable to low income persons in Waterford Township by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Waterford Township

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $26,750 $30,550 $34,350 $38,150 $41,250 $44,300 $47,350 $50,400
60% of Median $32,100 $36,660 $41,220 $45,780 $49,500 $53,160 $56,820 $60,480

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Waterford Township is $41,220 a year, or $3,435 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,435 by 30% to get a maximum rent of $1,031 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $669 $716 $859 $993 $1,108 $1,222
60% $803 $860 $1,031 $1,191 $1,329 $1,466
Fair Market Rents in Waterford Township

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$639 $764 $977 $1,266 $1,376