Affordable Housing In Grand Island
Hall County, Nebraska

22 Low Income Apartment Communities In Grand Island

Woodland Park Townhomes II

4180 Pennsylvania Ave
Grand Island, NE
$530-595
2-3 BR
55+
HCV Welcome

Victory Place

2325 N Broadwell
Grand Island, NE
Income Based-530
1-2 BR
HCV Welcome

Shady Bend Villas

1834 West 7th Street
Grand Island, NE
$530-565
3-4 BR
HCV Welcome

Colonial Square

524 E 16th St
Grand Island, NE
Call For Rent
2-3 BR
Subsidized

Grandview

3423 Kelly Street
Grand Island, NE
HCV Welcome

Riverbend Apartments

101 Lakeview Cir
Grand Island, NE
HCV Welcome

Colonial Square Apartments

507 E 17th Street
Grand Island, NE
HCV Welcome

Grandview Apartments

3423 Kelly St
Grand Island, NE
Subsidized

Holiday Garden Townhomes I

2004 N Wheeler Ave
Grand Island, NE
Subsidized

Platte Valley

104 West 5th Street
Grand Island, NE

Housing Authorities that serve Grand Island

Housing Authority Programs
Hall County Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Grand Island, Nebraska

According to federal housing data and AffordableHousingOnline.com research, there are 22 low income housing apartment communities offering 1,361 affordable apartments for rent in Grand Island, Nebraska. Grand Island features 721 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 630 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Grand Island.

Grand Island, NE Affordable Housing Snapshot

Total Affordable Apartment Properties 22
Total Low Income Apartments 1,361
Total Housing Units with Rental Assistance 721
Percentage of Housing Units Occupied By Renters 40.98%
Average Renter Household Size 2.40
Average Household Size 2.66
Median Household Income $46,831 ±$2,158
Median Rent $657 ±$19
Percentage Of Renters Overburdened 38.72% ± 4.5pp
Total Population 50,582

Population and Household Demographics

Grand Island is a City in Hall County, Nebraska with a population of 50,582. There are 18,721 households in the city with an average household size of 2.66 persons. 40.98% of households in Grand Island are renters.

Income and Rent Overburden in Grand Island

The median gross income for households in Grand Island is $46,831 a year, or $3,903 a month. The median rent for the city is $657 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Grand Island, a household making less than $2,190 a month would be considered overburdened when renting an apartment at or above the median rent. 38.72% of households who rent are overburdened in Grand Island.1

Area Median Income In Grand Island

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 Grand Island, the AMI is calculated from all households within Hall County.

In Grand Island, HUD calculates the Area Median Income for a family of four as $61,700

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 Grand Island

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 Grand Island HUD Rental Assistance in Grand Island

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $14,700 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $24,500 $28,000 $31,500 $35,000 $37,800 $40,600 $43,400 $46,200
80% of Median $39,200 $44,800 $50,400 $56,000 $60,500 $65,000 $69,450 $73,950
Low Income Housing Tax Credits in Grand Island

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1995 to 2010, 9 low income apartment communities containing 519 rental apartments have been constructed and made affordable to low income persons in Grand Island by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Grand Island

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $24,500 $28,000 $31,500 $35,000 $37,800 $40,600 $43,400 $46,200
60% of Median $29,400 $33,600 $37,800 $42,000 $45,360 $48,720 $52,080 $55,440

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Grand Island is $37,800 a year, or $3,150 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,150 by 30% to get a maximum rent of $945 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $613 $656 $788 $910 $1,015 $1,120
60% $735 $788 $945 $1,092 $1,218 $1,344
Fair Market Rents in Grand Island

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$557 $605 $780 $1,068 $1,093