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

Pecan Grove

416 S Faison Ave
Faison, North Carolina
Rent Assisted

Pecan Grove Apartments

501 S Faison Ave
Faison, North Carolina
Rent Assisted
S. 515 Rural
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There are 0 low-income apartments in Faison that offer reduced rents to eligible households.

Rental assistance programs support 32 low-income homes in Faison 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.

Faison, North Carolina Affordable Housing Data

Income Based Apartments in Faison, North Carolina

Faison features 32 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 Faison, North Carolina

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

Housing Choice Vouchers in Faison, North Carolina

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Faison, North Carolina for a two-bedroom apartment is between $743 and $909.

2023 Faison, 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
Faison, North Carolina Fair Market Rent $623 $628 $826 $1,005 $1,110
Faison, North Carolina Payment Standard Range $561 to $685 $565 to $691 $743 to $909 $905 to $1,106 $999 to $1,221

Sourced from federal housing data and AffordableHousingOnline.com research.

Faison, NC Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 32
Total Housing Units with Rental Assistance 32
Percentage of Housing Units Occupied By Renters 43.48%
Average Renter Household Size 2.62
Average Household Size 2.63
Median Household Income $37,083 ±$5,164
Median Rent $595 ±$144
Percentage Of Renters Overburdened 38.33% ± 21.66pp
Total Population 1,107

Population and Household Demographics

Faison is a city in Duplin County, North Carolina with a population of 1,107. There are 414 households in the city with an average household size of 2.63 persons. 43.48% of households in Faison are renters.

Income and Rent Overburden in Faison

The median gross income for households in Faison is $37,083 a year, or $3,090 a month. The median rent for the city is $595 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Faison, a household making less than $1,983 a month would be considered overburdened when renting an apartment at or above the median rent. 38.33% of households who rent are overburdened in Faison.

Area Median Income In Faison

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 Faison, the AMI is calculated from all households within Duplin County.

In Faison, HUD calculates the Area Median Income for a family of four as $66,100

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 Faison

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 Faison

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30% AMI Income Limits
Renters earning up to 30% of the Faison 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 Faison 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 Faison 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