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

Chc of Montgomery Co.

110 E Blake St
Candor, North Carolina
S. 811 Supportive
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There are 0 low-income apartments in Candor that offer reduced rents to eligible households.

Rental assistance programs support 7 low-income homes in Candor where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $-4 towards rent each month.

Affordable rent data for some communities last confirmed on October 30th, 2019. Subdsidized rents typically change once a year based on federal guidance.

Candor, North Carolina Affordable Housing Data

Income Based Apartments in Candor, North Carolina

Candor features 7 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 Candor, North Carolina

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

Housing Choice Vouchers in Candor, North Carolina

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

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

2023 Candor, 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
Candor, North Carolina Fair Market Rent $607 $611 $771 $960 $1,173
Candor, North Carolina Payment Standard Range $546 to $668 $550 to $672 $694 to $848 $864 to $1,056 $1,056 to $1,290

Sourced from federal housing data and AffordableHousingOnline.com research.

Candor, NC Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 7
Total Housing Units with Rental Assistance 7
Percentage of Housing Units Occupied By Renters 33.61%
Average Renter Household Size 3.33
Average Household Size 3.05
Median Household Income $37,400 ±$11,297
Median Rent $850 ±$319
Percentage Of Renters Overburdened 52.44% ± 44.33pp
Total Population 759

Population and Household Demographics

Candor is a city in Montgomery County, North Carolina with a population of 759. There are 244 households in the city with an average household size of 3.05 persons. 33.61% of households in Candor are renters.

Income and Rent Overburden in Candor

The median gross income for households in Candor is $37,400 a year, or $3,117 a month. The median rent for the city is $850 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Candor, a household making less than $2,833 a month would be considered overburdened when renting an apartment at or above the median rent. 52.44% of households who rent are overburdened in Candor.

Area Median Income In Candor

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 Candor, the AMI is calculated from all households within Montgomery County.

In Candor, HUD calculates the Area Median Income for a family of four as $64,400

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 Candor

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 Candor

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 Candor 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 Candor 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 Candor 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