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Affordable Housing In Farber
Audrain County, Missouri

1 Low Income Apartment Communities In Farber

Farber Housing Assn

401 Trabue Dr
Farber, Missouri
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Housing Authorities that serve Farber

Housing Authority Programs
Lincoln County Public Housing Agency Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Farber, Missouri

There are 1 low income housing apartment communities offering 16 affordable apartments for rent in Farber, Missouri.

Income Based Apartments in Farber, Missouri

Farber features 16 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 Farber, Missouri

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Farber.

Housing Choice Vouchers in Farber, Missouri

On average, Section 8 Housing Choice vouchers pay Farber landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Farber.

The maximum amount a voucher would pay on behalf of a low-income tenant in Farber, Missouri for a two-bedroom apartment is between $596 and $728.

2020 Farber, Missouri 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 $444 $503 $662 $827 $897
Payment Standard Range $400 to $488 $453 to $553 $596 to $728 $744 to $910 $807 to $987

Sourced from federal housing data and research.

Farber, MO Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 16
Total Housing Units with Rental Assistance 16
Percentage of Housing Units Occupied By Renters 29.73%
Average Renter Household Size 2.25
Average Household Size 2.13
Median Household Income $39,792 ±$3,804
Median Rent $531 ±$335
Percentage Of Renters Overburdened 20.45% ± 39.42pp
Total Population 315

Population and Household Demographics

Farber is a City in Audrain County, Missouri with a population of 315. There are 148 households in the city with an average household size of 2.13 persons. 29.73% of households in Farber are renters.

Income and Rent Overburden in Farber

The median gross income for households in Farber is $39,792 a year, or $3,316 a month. The median rent for the city is $531 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Farber, a household making less than $1,770 a month would be considered overburdened when renting an apartment at or above the median rent. 20.45% of households who rent are overburdened in Farber.1

Area Median Income In Farber

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 Farber, the AMI is calculated from all households within Audrain County.

In Farber, HUD calculates the Area Median Income for a family of four as $57,000

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 Farber

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 Farber

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 $25,750 $30,170 $33,100 $35,350 $37,650
50% of Median $19,950 $22,800 $25,650 $28,500 $30,800 $33,100 $35,350 $37,650
80% of Median $31,950 $36,500 $41,050 $45,600 $49,250 $52,900 $56,550 $60,200