. Low Income Apartments For Rent in Bostic, North Carolina - Affordable Housing Online

East Villa Apartments

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Bostic, North Carolina
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There are 0 low-income apartments in Bostic that offer reduced rents to eligible households.

Rental assistance programs support 0 low-income homes in Bostic where households pay rent based on how much they earn.

Affordable rent data for some communities last confirmed on October 9th, 2019. Subdsidized rents typically change once a year based on federal guidance.

Public Housing Agencies Serving Bostic, North Carolina

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Housing Authority Programs
Isothermal Planning and Development Commission Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Veteran Affairs Supportive Housing (VASH)
Go to the North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Bostic.

Bostic, North Carolina Affordable Housing Data

Income Based Apartments in Bostic, North Carolina

Bostic 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 Bostic, North Carolina

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bostic.

Housing Choice Vouchers in Bostic, North Carolina

On average, Section 8 Housing Choice vouchers pay Bostic landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Bostic.

The maximum amount a voucher would pay on behalf of a low-income tenant in Bostic, North Carolina for a two-bedroom apartment is between $694 and $848.

2023 Bostic, 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
Bostic, North Carolina Fair Market Rent $643 $646 $771 $975 $1,188
Bostic, North Carolina Payment Standard Range $579 to $707 $581 to $711 $694 to $848 $878 to $1,073 $1,069 to $1,307

Sourced from federal housing data and AffordableHousingOnline.com research.

Bostic, NC Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 27.1%
Average Renter Household Size 2.71
Average Household Size 2.32
Median Household Income $29,732 ±$8,529
Median Rent $738 ±$121
Percentage Of Renters Overburdened 61.9% ± 24.36pp
Total Population 360

Population and Household Demographics

Bostic is a city in Rutherford County, North Carolina with a population of 360. There are 155 households in the city with an average household size of 2.32 persons. 27.1% of households in Bostic are renters.

Income and Rent Overburden in Bostic

The median gross income for households in Bostic is $29,732 a year, or $2,478 a month. The median rent for the city is $738 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bostic, a household making less than $2,460 a month would be considered overburdened when renting an apartment at or above the median rent. 61.9% of households who rent are overburdened in Bostic.

Area Median Income In Bostic

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 Bostic, the AMI is calculated from all households within Rutherford County.

In Bostic, HUD calculates the Area Median Income for a family of four as $62,800

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 Bostic

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 Bostic

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 Bostic AMI may qualify for rental assistance programs that target Extremely Low Income households.
$14,580 $19,720 $24,860 $30,000 $35,140 $40,150 $42,950 $45,700
50% AMI Income Limits
Renters earning up to 50% of the Bostic AMI may qualify for rental assistance programs that target Very Low Income households.
$24,250 $27,700 $31,150 $34,600 $37,400 $40,150 $42,950 $45,700
80% AMI Income Limits
Renters earning up to 80% of the Bostic AMI may qualify for rental assistance programs that target Low Income households.
$38,750 $44,300 $49,850 $55,350 $59,800 $64,250 $68,650 $73,100