Affordable Housing In Watersmeet
Gogebic County, Michigan

Section 8 Vouchers, Apartments, and Waiting Lists in Watersmeet, Michigan

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Households who qualify for these programs may also qualify for Project-Based Section 8, which contributes rental assistance payments directly to private landlords on behalf of low-income tenants. Eligibility for the project-based program is similar to the voucher programs, but waiting list and application policies will vary depending on the landlord.

Public Housing Agencies Serving Watersmeet, Michigan

Housing Authority Programs
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 Watersmeet, Michigan

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Watersmeet, Michigan.

Income Based Apartments in Watersmeet, Michigan

Watersmeet features 0 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 Watersmeet, Michigan

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Watersmeet.

Housing Choice Vouchers in Watersmeet, Michigan

On average, Section 8 Housing Choice vouchers pay Watersmeet landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Watersmeet.

The maximum amount a voucher would pay on behalf of a low-income tenant in Watersmeet, Michigan for a two-bedroom apartment is between $681 and $833.

2022 Watersmeet, 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
Watersmeet, Michigan Fair Market Rent $524 $606 $757 $1,075 $1,280
Watersmeet, Michigan Payment Standard Range $472 to $576 $545 to $667 $681 to $833 $968 to $1,183 $1,152 to $1,408

Sourced from federal housing data and AffordableHousingOnline.com research.

Watersmeet, MI Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 18.09%
Average Renter Household Size 1.39
Average Household Size 2.09
Median Household Income $31,836 ±$5,359
Median Rent $485 ±$188
Percentage Of Renters Overburdened 58.33% ± 51.97pp
Total Population 415

Population and Household Demographics

Watersmeet is a city in Gogebic County, Michigan with a population of 415. There are 199 households in the city with an average household size of 2.09 persons. 18.09% of households in Watersmeet are renters.

Income and Rent Overburden in Watersmeet

The median gross income for households in Watersmeet is $31,836 a year, or $2,653 a month. The median rent for the city is $485 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Watersmeet, a household making less than $1,617 a month would be considered overburdened when renting an apartment at or above the median rent. 58.33% of households who rent are overburdened in Watersmeet.

Area Median Income In Watersmeet

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 Watersmeet, the AMI is calculated from all households within Gogebic County.

In Watersmeet, HUD calculates the Area Median Income for a family of four as $57,400

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 Watersmeet

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 Watersmeet

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 Watersmeet AMI may qualify for rental assistance programs that target Extremely Low Income households.
$13,550 $17,420 $21,960 $26,500 $31,040 $35,580 $40,000 $42,600
50% AMI Income Limits
Renters earning up to 50% of the Watersmeet AMI may qualify for rental assistance programs that target Very Low Income households.
$22,600 $25,800 $29,050 $32,250 $34,850 $37,450 $40,000 $42,600
80% AMI Income Limits
Renters earning up to 80% of the Watersmeet AMI may qualify for rental assistance programs that target Low Income households.
$36,150 $41,300 $46,450 $51,600 $55,750 $59,900 $64,000 $68,150