Affordable Housing In Limestone
Cattaraugus County, New York

1 Low Income Apartment Communities In Limestone

Carrollton Heights

560 Main St
Limestone, NY
Accepts Vouchers
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Housing Authorities that serve Limestone

Housing Authority Programs
Cattaraugus Development Corporation

Guide To Affordable Housing in Limestone, New York

There are 1 low income housing apartment communities offering 18 affordable apartments for rent in Limestone, New York. Limestone features 0 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 18 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Limestone.

Sourced from federal housing data and AffordableHousingOnline.com research.

Limestone, NY Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 18
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 38.46%
Average Renter Household Size 2.36
Average Household Size 2.49
Median Household Income $45,227 ±$14,574
Median Rent $717 ±$215
Percentage Of Renters Overburdened 38% ± 24.13pp
Total Population 330

Population and Household Demographics

Limestone is a City in Cattaraugus County, New York with a population of 330. There are 130 households in the city with an average household size of 2.49 persons. 38.46% of households in Limestone are renters.

Income and Rent Overburden in Limestone

The median gross income for households in Limestone is $45,227 a year, or $3,769 a month. The median rent for the city is $717 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Limestone, a household making less than $2,390 a month would be considered overburdened when renting an apartment at or above the median rent. 38% of households who rent are overburdened in Limestone.1

Area Median Income In Limestone

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 Limestone, the AMI is calculated from all households within Cattaraugus County.

In Limestone, HUD calculates the Area Median Income for a family of four as $61,300

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 Limestone

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 Limestone HUD Rental Assistance in Limestone

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,900 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $23,200 $26,500 $29,800 $33,100 $35,750 $38,400 $41,050 $43,700
80% of Median $37,100 $42,400 $47,700 $52,950 $57,200 $61,450 $65,700 $69,900
Fair Market Rents in Limestone

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
$585 $585 $716 $993 $1,101