Affordable Housing In Tightwad
Henry County, Missouri

Guide To Affordable Housing in Tightwad, Missouri

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Tightwad, Missouri.

Income Based Apartments in Tightwad, Missouri

Tightwad features 0 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 Tightwad, Missouri

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

Housing Choice Vouchers in Tightwad, Missouri

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Tightwad, Missouri for a two-bedroom apartment is between $652 and $796.

2022 Tightwad, 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
Tightwad, Missouri Fair Market Rent $517 $550 $724 $958 $982
Tightwad, Missouri Payment Standard Range $465 to $569 $495 to $605 $652 to $796 $862 to $1,054 $884 to $1,080

Sourced from federal housing data and research.

Tightwad, MO Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 24%
Average Renter Household Size 2.67
Average Household Size 2.48
Median Household Income $54,063 ±$14,629
Median Rent $0 ±$0
Percentage Of Renters Overburdened 33.33% ± 319.09pp
Total Population 62

Population and Household Demographics

Tightwad is a city in Henry County, Missouri with a population of 62. There are 25 households in the city with an average household size of 2.48 persons. 24% of households in Tightwad are renters.

Income and Rent Overburden in Tightwad

The median gross income for households in Tightwad is $54,063 a year, or $4,505 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Tightwad, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 33.33% of households who rent are overburdened in Tightwad.

Area Median Income In Tightwad

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 Tightwad, the AMI is calculated from all households within Henry County.

In Tightwad, HUD calculates the Area Median Income for a family of four as $59,400

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 Tightwad

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 Tightwad

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 Tightwad AMI may qualify for rental assistance programs that target Extremely Low Income households.
$12,880 $17,420 $21,960 $26,500 $31,040 $34,500 $36,850 $39,250
50% AMI Income Limits
Renters earning up to 50% of the Tightwad AMI may qualify for rental assistance programs that target Very Low Income households.
$20,800 $23,800 $26,750 $29,700 $32,100 $34,500 $36,850 $39,250
80% AMI Income Limits
Renters earning up to 80% of the Tightwad AMI may qualify for rental assistance programs that target Low Income households.
$33,250 $38,000 $42,750 $47,500 $51,300 $55,100 $58,900 $62,700