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

Summit Associates

Robb St
Summit, Mississippi
Rent Assisted
S. 515 Rural

Summit Apartments II, Lp

1003 Robb St
Summit, Mississippi
Rent Assisted

Honeysuckle Woods

1005 Honeysuckle Trl
Summit, Mississippi
Rent Assisted

Shadowood Estates 2

Grant St
Summit, Mississippi
Rent Assisted
S. 515 Rural

Summit Ha

603 Baldwin St
Summit, Mississippi
Public Housing
Showing Results 1-15
  • «
  • 1
  • »

There are 102 low-income apartments in Summit that offer reduced rents to eligible households.

Rental assistance programs support 54 low-income homes in Summit where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $235 towards rent each month.

Affordable rent data for some communities last confirmed on October 30th, 2019. Subdsidized rents typically change once a year based on federal guidance.

Summit, Mississippi Affordable Housing Data

Income Based Apartments in Summit, Mississippi

Summit features 54 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 Summit, Mississippi

There are 102 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Summit.

Housing Choice Vouchers in Summit, Mississippi

On average, Section 8 Housing Choice vouchers pay Summit landlords $400 per month towards rent. The average voucher holder contributes $200 towards rent in Summit.

The maximum amount a voucher would pay on behalf of a low-income tenant in Summit, Mississippi for a two-bedroom apartment is between $753 and $921.

2023 Summit, 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
Summit, Mississippi Fair Market Rent $703 $736 $837 $1,025 $1,124
Summit, Mississippi Payment Standard Range $633 to $773 $662 to $810 $753 to $921 $923 to $1,128 $1,012 to $1,236

Sourced from federal housing data and AffordableHousingOnline.com research.

Summit, MS Affordable Housing Snapshot

Total Affordable Apartment Properties 5
Total Low Income Apartments 156
Total Housing Units with Rental Assistance 54
Percentage of Housing Units Occupied By Renters 40.19%
Average Renter Household Size 3.68
Average Household Size 3.19
Median Household Income $24,417 ±$4,156
Median Rent $623 ±$63
Percentage Of Renters Overburdened 53.95% ± 15.07pp
Total Population 2,307

Population and Household Demographics

Summit is a city in Pike County, Mississippi with a population of 2,307. There are 724 households in the city with an average household size of 3.19 persons. 40.19% of households in Summit are renters.

Income and Rent Overburden in Summit

The median gross income for households in Summit is $24,417 a year, or $2,035 a month. The median rent for the city is $623 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Summit, a household making less than $2,077 a month would be considered overburdened when renting an apartment at or above the median rent. 53.95% of households who rent are overburdened in Summit.

Area Median Income In Summit

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 Summit, the AMI is calculated from all households within Pike County.

In Summit, HUD calculates the Area Median Income for a family of four as $52,100

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 Summit

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 Summit

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 Summit AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,580 $19,720 $24,860 $30,000 $33,600 $36,100 $38,600 $41,100
50% AMI Income Limits
Renters earning up to 50% of the Summit AMI may qualify for rental assistance programs that target Very Low Income households.
$21,800 $24,900 $28,000 $31,100 $33,600 $36,100 $38,600 $41,100
80% AMI Income Limits
Renters earning up to 80% of the Summit AMI may qualify for rental assistance programs that target Low Income households.
$34,850 $39,800 $44,800 $49,750 $53,750 $57,750 $61,700 $65,700