Affordable Housing In Stone County
6 Low Income Apartment Communities In Stone County
Housing Authorities that serve Stone County
|Mississippi Regional Housing Authority VIII||Section 8 Housing Choice Voucher (HCV); Section 8 Project-Based Voucher (PBV); Rental Assistance Demonstration (RAD)|
Guide To Affordable Housing in Stone County, Mississippi
There are 6 low income housing apartment communities offering 141 affordable apartments for rent in Stone County, Mississippi.
Income Based Apartments in Stone County, Mississippi
Stone County features 99 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 Stone County, Mississippi
There are 42 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stone County.
Housing Choice Vouchers in Stone County, Mississippi
On average, Section 8 Housing Choice vouchers pay Stone County landlords $700 per month towards rent. The average voucher holder contributes $300 towards rent in Stone County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Stone County, Mississippi for a two-bedroom apartment is between $591 and $723.
2020 Stone County, 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|
|Fair Market Rent||$492||$520||$657||$897||$900|
|Payment Standard Range||$443 to $541||$468 to $572||$591 to $723||$807 to $987||$810 to $990|
Sourced from federal housing data and AffordableHousingOnline.com research.
Stone County, MS Affordable Housing Snapshot
|Total Affordable Apartment Properties||6|
|Total Low Income Apartments||141|
|Total Housing Units with Rental Assistance||99|
|Percentage of Housing Units Occupied By Renters||20.56%|
|Average Renter Household Size||3.14|
|Average Household Size||3.00|
|Median Household Income||$45,025 ±$4,494|
|Median Rent||$734 ±$52|
|Percentage Of Renters Overburdened||35.53% ± 9.58pp|
Population and Household Demographics
Stone County is a county in Mississippi with a population of 17,978. There are 5,764 households in the county with an average household size of 3.00 persons. 20.56% of households in Stone County are renters.
Income and Rent Overburden in Stone County
The median gross income for households in Stone County is $45,025 a year, or $3,752 a month. The median rent for the county is $734 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Stone County, a household making less than $2,447 a month would be considered overburdened when renting an apartment at or above the median rent. 35.53% of households who rent are overburdened in Stone County.
Area Median Income In Stone County
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.
In Stone County, HUD calculates the Area Median Income for a family of four as $59,000
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 Stone County
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 Stone County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,760||$17,240||$21,720||$26,200||$30,680||$34,250||$36,600||$38,950|
|50% of Median||$20,650||$23,600||$26,550||$29,500||$31,900||$34,250||$36,600||$38,950|
|80% of Median||$33,050||$37,800||$42,500||$47,200||$51,000||$54,800||$58,550||$62,350|