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There are 56 low-income apartments in Black Mountain that offer reduced rents to eligible households.
Rental assistance programs support 0 low-income homes in Black Mountain where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $307 towards rent each month.
Affordable rent data for some communities last confirmed on January 2nd, 2023. Subdsidized rents typically change once a year based on federal guidance.
Black Mountain, North Carolina Affordable Housing Data
Income Based Apartments in Black Mountain, North Carolina
Black Mountain 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 Black Mountain, North Carolina
There are 56 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Black Mountain.
Housing Choice Vouchers in Black Mountain, North Carolina
On average, Section 8 Housing Choice vouchers pay Black Mountain landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Black Mountain.
The maximum amount a voucher would pay on behalf of a low-income tenant in Black Mountain, North Carolina for a two-bedroom apartment is between $1,319 and $1,613.
2023 Black Mountain, North Carolina 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 | |
|---|---|---|---|---|---|
| Black Mountain, North Carolina Fair Market Rent | $1,270 | $1,298 | $1,466 | $1,949 | $2,497 |
| Black Mountain, North Carolina Payment Standard Range | $1,143 to $1,397 | $1,168 to $1,428 | $1,319 to $1,613 | $1,754 to $2,144 | $2,247 to $2,747 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Black Mountain, NC Affordable Housing Snapshot
| Total Affordable Apartment Properties | 1 |
|---|---|
| Total Low Income Apartments | 56 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 43.86% |
| Average Renter Household Size | 2.07 |
| Average Household Size | 2.16 |
| Median Household Income | $40,877 ±$3,203 |
| Median Rent | $756 ±$80 |
| Percentage Of Renters Overburdened | 49.4% ± 11.29pp |
| Total Population | 8,079 |
Population and Household Demographics
Black Mountain is a city in Buncombe County, North Carolina with a population of 8,079. There are 3,623 households in the city with an average household size of 2.16 persons. 43.86% of households in Black Mountain are renters.
Income and Rent Overburden in Black Mountain
The median gross income for households in Black Mountain is $40,877 a year, or $3,406 a month. The median rent for the city is $756 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Black Mountain, a household making less than $2,520 a month would be considered overburdened when renting an apartment at or above the median rent. 49.4% of households who rent are overburdened in Black Mountain.
Area Median Income In Black Mountain
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 Black Mountain, the AMI is calculated from all households within Buncombe County.
In Black Mountain, HUD calculates the Area Median Income for a family of four as $90,300
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 Black Mountain
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 Black Mountain
| 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 Black Mountain AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,850 | $20,400 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Black Mountain AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,750 | $34,000 | $38,250 | $42,500 | $45,900 | $49,300 | $52,700 | $56,100 |
| 80% AMI Income Limits Renters earning up to 80% of the Black Mountain AMI may qualify for rental assistance programs that target Low Income households. |
$47,600 | $54,400 | $61,200 | $68,000 | $73,450 | $78,900 | $84,350 | $89,800 |
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