Affordable Housing In Hickory
Catawba County, North Carolina


Waiting List Openings In Hickory

Waiting ListStatus
City of Hickory Public Housing Authority Housing Choice Voucher Open Now

16 Low Income Apartment Communities In Hickory

Villas at Twin Cedars

1866 20th Ave Dr Northeast
Hickory, NC
$472-629
1-2 BR
55+

Woodland Park Apartments

1726 3rd Ave NW
Hickory, NC
Call For Rent
2-4 BR
HCV Welcome

Lutherhaus

720 7th Ave NE
Hickory, NC
Call For Rent
Studio-4 BR
62+
Accessible
Elderly Supportive Housing
Subsidized

Hilltop Apartments

18th St Pl NW
Hickory, NC
Subsidized

Highland Park

2110 17th Ave
Hickory, NC
HCV Welcome

Twin Cedars Apartments

1866 20th Avenue Dr NE
Hickory, NC
HCV Welcome

Villas at Northview

415 26th Ave NE
Hickory, NC
HCV Welcome

Silver Springs Terrace - 053 - 002 - Ni

950 20th St NE
Hickory, NC
Subsidized

198 3rd Ave SE

198 3rd Ave SE
Hickory, NC

Ridgecrest

2830 12th Ave SE
Hickory, NC

Housing Authorities that serve Hickory

Housing Authority Programs
City of Hickory Public Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing; Homeownership Voucher; Family Self-Sufficiency; Section 8 Project-Based Rental Assistance (PBRA); Rental Assistance Demonstration (RAD)
Western Piedmont Council of Governments Regional Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Hickory, North Carolina

There are 16 low income housing apartment communities offering 973 affordable apartments for rent in Hickory, North Carolina. Hickory features 566 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 407 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Hickory.

Sourced from federal housing data and AffordableHousingOnline.com research.

Hickory, NC Affordable Housing Snapshot

Total Affordable Apartment Properties 16
Total Low Income Apartments 973
Total Housing Units with Rental Assistance 566
Percentage of Housing Units Occupied By Renters 46.39%
Average Renter Household Size 2.36
Average Household Size 2.44
Median Household Income $43,338 ±$3,452
Median Rent $671 ±$16
Percentage Of Renters Overburdened 39.75% ± 4.57pp
Total Population 40,172

Population and Household Demographics

Hickory is a City in Catawba County, North Carolina with a population of 40,172. There are 15,899 households in the city with an average household size of 2.44 persons. 46.39% of households in Hickory are renters.

Income and Rent Overburden in Hickory

The median gross income for households in Hickory is $43,338 a year, or $3,612 a month. The median rent for the city is $671 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Hickory, a household making less than $2,237 a month would be considered overburdened when renting an apartment at or above the median rent. 39.75% of households who rent are overburdened in Hickory.1

Area Median Income In Hickory

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 Hickory, the AMI is calculated from all households within Catawba County.

In Hickory, HUD calculates the Area Median Income for a family of four as $55,100

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 Hickory

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 Hickory HUD Rental Assistance in Hickory

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $29,850 $32,050 $34,250 $36,450
50% of Median $19,350 $22,100 $24,850 $27,600 $29,850 $32,050 $34,250 $36,450
80% of Median $30,950 $35,350 $39,750 $44,150 $47,700 $51,250 $54,750 $58,300
Low Income Housing Tax Credits in Hickory

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1988 to 2008, 11 low income apartment communities containing 517 rental apartments have been constructed and made affordable to low income persons in Hickory by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Hickory

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $19,350 $22,100 $24,850 $27,600 $29,850 $32,050 $34,250 $36,450
60% of Median $23,220 $26,520 $29,820 $33,120 $35,820 $38,460 $41,100 $43,740

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Hickory is $29,820 a year, or $2,485 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,485 by 30% to get a maximum rent of $746 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $484 $518 $621 $718 $801 $884
60% $581 $622 $746 $862 $962 $1,061
Fair Market Rents in Hickory

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$569 $573 $712 $918 $1,035