Apply to Iredell County Apartment Waiting Lists
The Meadows
The Retreat at Statesville
Park Avenue Place Apartments
Park Place II
Sedgefield Apartments
Hillside Apartments
Statesville Elderly Housing - Emmanuels Place
Meadowlark Glen Apartments
Church Street Apartments
There are 1,397 low-income apartments in Iredell County that offer reduced rents to eligible households.
Rental assistance programs support 1,198 low-income homes in Iredell County where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $364 towards rent each month.
Affordable rent data for some communities last confirmed on October 26th, 2023. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Iredell County, 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 |
|---|---|
| Statesville Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
Iredell County, North Carolina Affordable Housing Data
Income Based Apartments in Iredell County, North Carolina
Iredell County features 1,198 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 Iredell County, North Carolina
There are 1,397 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Iredell County.
Housing Choice Vouchers in Iredell County, North Carolina
On average, Section 8 Housing Choice vouchers pay Iredell County landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Iredell County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Iredell County, North Carolina for a two-bedroom apartment is between $931 and $1,137.
2023 Iredell County, 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 | |
|---|---|---|---|---|---|
| Iredell County, North Carolina Fair Market Rent | $896 | $915 | $1,034 | $1,395 | $1,761 |
| Iredell County, North Carolina Payment Standard Range | $806 to $986 | $824 to $1,007 | $931 to $1,137 | $1,256 to $1,535 | $1,585 to $1,937 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Iredell County, NC Affordable Housing Snapshot
| Total Affordable Apartment Properties | 49 |
|---|---|
| Total Low Income Apartments | 2,595 |
| Total Housing Units with Rental Assistance | 1,198 |
| Percentage of Housing Units Occupied By Renters | 27.1% |
| Average Renter Household Size | 2.68 |
| Average Household Size | 2.69 |
| Median Household Income | $52,306 ±$1,352 |
| Median Rent | $796 ±$23 |
| Percentage Of Renters Overburdened | 41.74% ± 3.12pp |
| Total Population | 165,066 |
Population and Household Demographics
Iredell County is a county in North Carolina with a population of 165,066. There are 60,893 households in the county with an average household size of 2.69 persons. 27.1% of households in Iredell County are renters.
Income and Rent Overburden in Iredell County
The median gross income for households in Iredell County is $52,306 a year, or $4,359 a month. The median rent for the county is $796 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Iredell County, a household making less than $2,653 a month would be considered overburdened when renting an apartment at or above the median rent. 41.74% of households who rent are overburdened in Iredell County.
Area Median Income In Iredell County
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.
In Iredell County, HUD calculates the Area Median Income for a family of four as $95,600
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 Iredell County
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 Iredell County
| 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 Iredell County AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,350 | $19,800 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Iredell County AMI may qualify for rental assistance programs that target Very Low Income households. |
$28,900 | $33,000 | $37,150 | $41,250 | $44,550 | $47,850 | $51,150 | $54,450 |
| 80% AMI Income Limits Renters earning up to 80% of the Iredell County AMI may qualify for rental assistance programs that target Low Income households. |
$46,200 | $52,800 | $59,400 | $65,950 | $71,250 | $76,550 | $81,800 | $87,100 |
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