. Low Income Apartments For Rent in Olive Branch, Mississippi - Affordable Housing Online

Sandidge Hill Apartments

7830 W Sandidge Rd
Olive Branch, Mississippi

Rolling Hills Apartments

10250 Goodman Rd
Olive Branch, Mississippi

Crestview Apartments

8665 Carona St
Olive Branch, Mississippi
Rent Assisted

Olive Branch Fam Lp C/O Intervest Corp

Coroma Road
Olive Branch, Mississippi
Rent Assisted
S. 515 Rural
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There are 38 low-income apartments in Olive Branch that offer reduced rents to eligible households.

Rental assistance programs support 136 low-income homes in Olive Branch where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $382 towards rent each month.

Affordable rent data for some communities last confirmed on April 23rd, 2021. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Olive Branch, Mississippi

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.

Housing Authority Programs
Mississippi Regional Housing Authority II Section 8 Housing Choice Voucher (HCV)
Go to the Mississippi Public Housing and Low-Income Apartments Waiting Lists page for openings near Olive Branch.

Olive Branch, Mississippi Affordable Housing Data

Income Based Apartments in Olive Branch, Mississippi

Olive Branch features 136 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 Olive Branch, Mississippi

There are 38 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Olive Branch.

Housing Choice Vouchers in Olive Branch, Mississippi

On average, Section 8 Housing Choice vouchers pay Olive Branch landlords $1,400 per month towards rent. The average voucher holder contributes $400 towards rent in Olive Branch.

The maximum amount a voucher would pay on behalf of a low-income tenant in Olive Branch, Mississippi for a two-bedroom apartment is between $929 and $1,135.

2023 Olive Branch, Mississippi 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
Olive Branch, Mississippi Fair Market Rent $800 $902 $1,032 $1,365 $1,584
Olive Branch, Mississippi Payment Standard Range $720 to $880 $812 to $992 $929 to $1,135 $1,229 to $1,502 $1,426 to $1,742

Sourced from federal housing data and AffordableHousingOnline.com research.

Olive Branch, MS Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 174
Total Housing Units with Rental Assistance 136
Percentage of Housing Units Occupied By Renters 23.67%
Average Renter Household Size 2.86
Average Household Size 2.75
Median Household Income $62,979 ±$3,964
Median Rent $1,071 ±$60
Percentage Of Renters Overburdened 33.15% ± 7.34pp
Total Population 35,018

Population and Household Demographics

Olive Branch is a city in DeSoto County, Mississippi with a population of 35,018. There are 12,719 households in the city with an average household size of 2.75 persons. 23.67% of households in Olive Branch are renters.

Income and Rent Overburden in Olive Branch

The median gross income for households in Olive Branch is $62,979 a year, or $5,248 a month. The median rent for the city is $1,071 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Olive Branch, a household making less than $3,570 a month would be considered overburdened when renting an apartment at or above the median rent. 33.15% of households who rent are overburdened in Olive Branch.

Area Median Income In Olive Branch

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 Olive Branch, the AMI is calculated from all households within DeSoto County.

In Olive Branch, HUD calculates the Area Median Income for a family of four as $81,000

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 Olive Branch

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 Olive Branch

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 Olive Branch AMI may qualify for rental assistance programs that target Extremely Low Income households.
$17,050 $19,720 $24,860 $30,000 $35,140 $40,280 $45,420 $50,560
50% AMI Income Limits
Renters earning up to 50% of the Olive Branch AMI may qualify for rental assistance programs that target Very Low Income households.
$28,350 $32,400 $36,450 $40,500 $43,750 $47,000 $50,250 $53,500
80% AMI Income Limits
Renters earning up to 80% of the Olive Branch AMI may qualify for rental assistance programs that target Low Income households.
$45,400 $51,850 $58,350 $64,800 $70,000 $75,200 $80,400 $85,550