Affordable Housing In Grenada
Grenada County, Mississippi

10 Low Income Apartment Communities In Grenada

Dogwood Park Apartments

138 Perry Road
Grenada, MS
$651-725
2-3 BR
HCV Welcome

Greater Powell Place

966 W. Govan Street
Grenada, MS
Call For Rent
1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

All Saints House

480 South Main Street
Grenada, MS
Call For Rent
Studio-1 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

Federation Towers

760 E Govan Ext
Grenada, MS
62+
Accessible
Elderly Supportive Housing
Subsidized

Pine Hill Apartments

700 Washington St
Grenada, MS
HCV Welcome
Subsidized

Washington Garden Apartments

800 Washington St
Grenada, MS
Subsidized

Hillcrest Apartments

656 Bell St
Grenada, MS
Subsidized

Sundown Gardens

79 Garden Dr
Grenada, MS
HCV Welcome

Mcmath Apartments

850 Washington St
Grenada, MS
HCV Welcome

Peppertree Apartments

876 W Govan St
Grenada, MS
HCV Welcome
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Housing Authorities that serve Grenada

Housing Authority Programs
Mississippi Regional Housing Authority IV Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Grenada, Mississippi

According to federal housing data and AffordableHousingOnline.com research, there are 10 low income housing apartment communities offering 513 affordable apartments for rent in Grenada, Mississippi. Grenada features 300 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 213 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Grenada.

Grenada, MS Affordable Housing Snapshot

Total Affordable Apartment Properties 10
Total Low Income Apartments 513
Total Housing Units with Rental Assistance 300
Percentage of Housing Units Occupied By Renters 34.55%
Average Renter Household Size 3.27
Average Household Size 2.95
Median Household Income $28,952 ±$4,966
Median Rent $585 ±$38
Percentage Of Renters Overburdened 42.49% ± 8.66pp
Total Population 12,908

Population and Household Demographics

Grenada is a City in Grenada County, Mississippi with a population of 12,908. There are 4,278 households in the city with an average household size of 2.95 persons. 34.55% of households in Grenada are renters.

Income and Rent Overburden in Grenada

The median gross income for households in Grenada is $28,952 a year, or $2,413 a month. The median rent for the city is $585 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grenada, a household making less than $1,950 a month would be considered overburdened when renting an apartment at or above the median rent. 42.49% of households who rent are overburdened in Grenada.1

Area Median Income In Grenada

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 Grenada, the AMI is calculated from all households within Grenada County.

In Grenada, HUD calculates the Area Median Income for a family of four as $45,400

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 Grenada

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 Grenada HUD Rental Assistance in Grenada

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $24,750 $26,750 $28,750 $30,700 $32,700
50% of Median $17,350 $19,800 $22,300 $24,750 $26,750 $28,750 $30,700 $32,700
80% of Median $27,750 $31,700 $35,650 $39,600 $42,800 $45,950 $49,150 $52,300
Low Income Housing Tax Credits in Grenada

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

From 1991 to 2012, 6 low income apartment communities containing 358 rental apartments have been constructed and made affordable to low income persons in Grenada 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 Grenada

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $17,350 $19,800 $22,300 $24,750 $26,750 $28,750 $30,700 $32,700
60% of Median $20,820 $23,760 $26,760 $29,700 $32,100 $34,500 $36,840 $39,240

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 Grenada is $26,760 a year, or $2,230 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,230 by 30% to get a maximum rent of $669 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% $434 $464 $558 $644 $719 $793
60% $521 $557 $669 $773 $863 $951
Fair Market Rents in Grenada

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
$492 $499 $657 $828 $893