Affordable Housing In Madison County
2 Low Income Apartment Communities In Madison County
Housing Authorities that serve Madison County
|Montana Department of Commerce||Section 8 Housing Choice Voucher (HCV)|
Guide To Affordable Housing in Madison County, Montana
There are 2 low income housing apartment communities offering 96 affordable apartments for rent in Madison County, Montana.
Income Based Apartments in Madison County, Montana
Madison County features 12 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 Madison County, Montana
There are 84 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Madison County.
Housing Choice Vouchers in Madison County, Montana
On average, Section 8 Housing Choice vouchers pay Madison County landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Madison County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Madison County, Montana for a two-bedroom apartment is between $820 and $1,002.
2021 Madison County, Montana 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||$781||$799||$911||$1,133||$1,428|
|Payment Standard Range||$703 to $859||$719 to $879||$820 to $1,002||$1,020 to $1,246||$1,285 to $1,571|
Sourced from federal housing data and AffordableHousingOnline.com research.
Madison County, MT Affordable Housing Snapshot
|Total Affordable Apartment Properties||2|
|Total Low Income Apartments||96|
|Total Housing Units with Rental Assistance||12|
|Percentage of Housing Units Occupied By Renters||25.38%|
|Average Renter Household Size||2.44|
|Average Household Size||2.23|
|Median Household Income||$46,250 ±$5,418|
|Median Rent||$691 ±$30|
|Percentage Of Renters Overburdened||24.56% ± 8.3pp|
Population and Household Demographics
Madison County is a county in Montana with a population of 7,767. There are 3,369 households in the county with an average household size of 2.23 persons. 25.38% of households in Madison County are renters.
Income and Rent Overburden in Madison County
The median gross income for households in Madison County is $46,250 a year, or $3,854 a month. The median rent for the county is $691 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Madison County, a household making less than $2,303 a month would be considered overburdened when renting an apartment at or above the median rent. 24.56% of households who rent are overburdened in Madison County.
Area Median Income In Madison 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 Madison County, HUD calculates the Area Median Income for a family of four as $65,000
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 Madison 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 Madison County
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$15,000||$17,240||$21,720||$26,200||$30,680||$35,160||$39,640||$44,120|
|50% of Median||$25,000||$28,600||$32,150||$35,700||$38,600||$41,450||$44,300||$47,150|
|80% of Median||$40,000||$45,700||$51,400||$57,100||$61,700||$66,250||$70,850||$75,400|
Cities In Madison County
Select A City to View its Apartment Communities and Waiting Lists.
|Alder||The HUD funded Public Housing Agency that serves Alder is the Montana Department of Commerce.|
|Ennis||The HUD funded Public Housing Agency that serves Ennis is the Montana Department of Commerce.|
|Harrison||The HUD funded Public Housing Agency that serves Harrison is the Montana Department of Commerce.|
|Pony||The HUD funded Public Housing Agency that serves Pony is the Montana Department of Commerce.|
|Sheridan||The HUD funded Public Housing Agency that serves Sheridan is the Montana Department of Commerce.|
|Twin Bridges||The HUD funded Public Housing Agency that serves Twin Bridges is the Montana Department of Commerce.|
|Virginia City||The HUD funded Public Housing Agency that serves Virginia City is the Montana Department of Commerce.|