Public Housing Agencies Serving East Spencer, 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 |
|---|---|
| Rowan County Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
East Spencer, North Carolina Affordable Housing Data
Income Based Apartments in East Spencer, North Carolina
East Spencer 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 East Spencer, North Carolina
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in East Spencer.
Housing Choice Vouchers in East Spencer, North Carolina
On average, Section 8 Housing Choice vouchers pay East Spencer landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in East Spencer.
The maximum amount a voucher would pay on behalf of a low-income tenant in East Spencer, North Carolina for a two-bedroom apartment is between $882 and $1,078.
2023 East Spencer, 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 | |
|---|---|---|---|---|---|
| East Spencer, North Carolina Fair Market Rent | $800 | $805 | $980 | $1,270 | $1,388 |
| East Spencer, North Carolina Payment Standard Range | $720 to $880 | $725 to $886 | $882 to $1,078 | $1,143 to $1,397 | $1,249 to $1,527 |
Sourced from federal housing data and AffordableHousingOnline.com research.
East Spencer, NC Affordable Housing Snapshot
| Total Affordable Apartment Properties | 0 |
|---|---|
| Total Low Income Apartments | 0 |
| Total Housing Units with Rental Assistance | 0 |
| Percentage of Housing Units Occupied By Renters | 62.45% |
| Average Renter Household Size | 2.52 |
| Average Household Size | 2.70 |
| Median Household Income | $14,803 ±$2,652 |
| Median Rent | $450 ±$140 |
| Percentage Of Renters Overburdened | 69.94% ± 13.35pp |
| Total Population | 1,453 |
Population and Household Demographics
East Spencer is a city in Rowan County, North Carolina with a population of 1,453. There are 538 households in the city with an average household size of 2.70 persons. 62.45% of households in East Spencer are renters.
Income and Rent Overburden in East Spencer
The median gross income for households in East Spencer is $14,803 a year, or $1,234 a month. The median rent for the city is $450 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In East Spencer, a household making less than $1,500 a month would be considered overburdened when renting an apartment at or above the median rent. 69.94% of households who rent are overburdened in East Spencer.
Area Median Income In East Spencer
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 East Spencer, the AMI is calculated from all households within Rowan County.
In East Spencer, HUD calculates the Area Median Income for a family of four as $76,700
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 East Spencer
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 East Spencer
| 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 East Spencer AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$15,550 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $48,750 |
| 50% AMI Income Limits Renters earning up to 50% of the East Spencer AMI may qualify for rental assistance programs that target Very Low Income households. |
$25,850 | $29,550 | $33,250 | $36,900 | $39,900 | $42,850 | $45,800 | $48,750 |
| 80% AMI Income Limits Renters earning up to 80% of the East Spencer AMI may qualify for rental assistance programs that target Low Income households. |
$41,300 | $47,200 | $53,100 | $59,000 | $63,750 | $68,450 | $73,200 | $77,900 |
© 2002-2023 ApartmentSmart.com, Inc.
Affordable Housing Online is not affiliated with any housing authority or apartment community, and does not manage any affordable housing programs.
