Holly Ridge, North Carolina Affordable Housing Data

Income Based Apartments in Holly Ridge, North Carolina

Holly Ridge features 45 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 Holly Ridge, North Carolina

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

Housing Choice Vouchers in Holly Ridge, North Carolina

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Holly Ridge, North Carolina for a two-bedroom apartment is between $856 and $1,046.

2023 Holly Ridge, 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.

Sourced from federal housing data and AffordableHousingOnline.com research.

Holly Ridge, NC Affordable Housing Snapshot

Total Affordable Apartment Properties	1
Total Low Income Apartments	45
Total Housing Units with Rental Assistance	45
Percentage of Housing Units Occupied By Renters	43.85%
Average Renter Household Size	2.63
Average Household Size	2.44
Median Household Income	$51,111 ±$14,107
Median Rent	$1,099 ±$66
Percentage Of Renters Overburdened	40.19% ± 12.69pp
Total Population	1,785

Population and Household Demographics

Holly Ridge is a city in Onslow County, North Carolina with a population of 1,785. There are 732 households in the city with an average household size of 2.44 persons. 43.85% of households in Holly Ridge are renters.

Income and Rent Overburden in Holly Ridge

The median gross income for households in Holly Ridge is $51,111 a year, or $4,259 a month. The median rent for the city is $1,099 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Holly Ridge, a household making less than $3,663 a month would be considered overburdened when renting an apartment at or above the median rent. 40.19% of households who rent are overburdened in Holly Ridge.

Area Median Income In Holly Ridge

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 Holly Ridge, the AMI is calculated from all households within Onslow County.

In Holly Ridge, HUD calculates the Area Median Income for a family of four as $71,600

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 Holly Ridge

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 Holly Ridge