Affordable Housing In Sun Valley
1 Low Income Apartment Communities In Sun Valley
Housing Authorities that serve Sun Valley
|Reno Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Moving to Work|
Guide To Affordable Housing in Sun Valley, Nevada
There are 1 low income housing apartment communities offering 250 affordable apartments for rent in Sun Valley, Nevada.
Income Based Apartments in Sun Valley, Nevada
Sun Valley 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 Sun Valley, Nevada
There are 250 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Sun Valley.
Housing Choice Vouchers in Sun Valley, Nevada
On average, Section 8 Housing Choice vouchers pay Sun Valley landlords $500 per month towards rent. The average voucher holder contributes $500 towards rent in Sun Valley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Sun Valley, Nevada for a two-bedroom apartment is between $1,095 and $1,339.
2021 Sun Valley, Nevada 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|
|Sun Valley, Nevada Fair Market Rent||$803||$964||$1,217||$1,742||$2,107|
|Sun Valley, Nevada Payment Standard Range||$723 to $883||$868 to $1,060||$1,095 to $1,339||$1,568 to $1,916||$1,896 to $2,318|
Sourced from federal housing data and AffordableHousingOnline.com research.
Sun Valley, NV Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||250|
|Total Housing Units with Rental Assistance||0|
|Percentage of Housing Units Occupied By Renters||31.24%|
|Average Renter Household Size||3.48|
|Average Household Size||3.13|
|Median Household Income||$44,013 ±$3,720|
|Median Rent||$957 ±$74|
|Percentage Of Renters Overburdened||48.7% ± 9.57pp|
Population and Household Demographics
Sun Valley is a city in Washoe County, Nevada with a population of 19,663. There are 6,284 households in the city with an average household size of 3.13 persons. 31.24% of households in Sun Valley are renters.
Income and Rent Overburden in Sun Valley
The median gross income for households in Sun Valley is $44,013 a year, or $3,668 a month. The median rent for the city is $957 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Sun Valley, a household making less than $3,190 a month would be considered overburdened when renting an apartment at or above the median rent. 48.7% of households who rent are overburdened in Sun Valley.
Area Median Income In Sun Valley
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 Sun Valley, the AMI is calculated from all households within Washoe County.
In Sun Valley, HUD calculates the Area Median Income for a family of four as $79,600
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 Sun Valley
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 Sun Valley
|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 Sun Valley AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Sun Valley AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Sun Valley AMI may qualify for rental assistance programs that target Low Income households.