Affordable Housing In Granite Ledge
Guide To Affordable Housing in Granite Ledge, Minnesota
There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Granite Ledge, Minnesota.
Income Based Apartments in Granite Ledge, Minnesota
Granite Ledge 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 Granite Ledge, Minnesota
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Granite Ledge.
Housing Choice Vouchers in Granite Ledge, Minnesota
On average, Section 8 Housing Choice vouchers pay Granite Ledge landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Granite Ledge.
The maximum amount a voucher would pay on behalf of a low-income tenant in Granite Ledge, Minnesota for a two-bedroom apartment is between $724 and $884.
2020 Granite Ledge, Minnesota 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|
|Fair Market Rent||$605||$657||$804||$1,151||$1,370|
|Payment Standard Range||$545 to $666||$591 to $723||$724 to $884||$1,036 to $1,266||$1,233 to $1,507|
Sourced from federal housing data and AffordableHousingOnline.com research.
Granite Ledge, MN 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||%|
|Average Renter Household Size||0.00|
|Average Household Size||0.00|
|Median Household Income||$0 ±$0|
|Median Rent||$0 ±$0|
Population and Household Demographics
Granite Ledge is a city in Benton County, Minnesota with a population of 0. There are 0 households in the city with an average household size of 0.00 persons. % of households in Granite Ledge are renters.
Income and Rent Overburden in Granite Ledge
The median gross income for households in Granite Ledge is $0 a year, or $0 a month. The median rent for the city is $0 a month.
Area Median Income In Granite Ledge
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 Granite Ledge, the AMI is calculated from all households within Benton County.
In Granite Ledge, HUD calculates the Area Median Income for a family of four as $81,200
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 Granite Ledge
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 Granite Ledge
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$17,050||$19,500||$21,950||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$28,450||$32,500||$36,550||$40,600||$43,850||$47,100||$50,350||$53,600|
|80% of Median||$45,500||$52,000||$58,500||$64,950||$70,150||$75,350||$80,550||$85,750|