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

Wyndsor Downs

11 Wyndsor Court
Polkton, North Carolina
Rent Assisted
Income Based
2-3 BR

Pine Ridge Place

Polkton, North Carolina
Rent Assisted

Pine Ridge Place

P.O. Box 413
Polkton, North Carolina
Rent Assisted
S. 515 Rural
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There are 48 low-income apartments in Polkton that offer reduced rents to eligible households.

Rental assistance programs support 32 low-income homes in Polkton where households pay rent based on how much they earn. For 2023, elgible households participating in federally assisted housing pay an average of $292 towards rent each month.

Affordable rent data for some communities last confirmed on January 3rd, 2023. Subdsidized rents typically change once a year based on federal guidance.

Polkton, North Carolina Affordable Housing Data

Income Based Apartments in Polkton, North Carolina

Polkton 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 Polkton, North Carolina

There are 48 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Polkton.

Housing Choice Vouchers in Polkton, North Carolina

On average, Section 8 Housing Choice vouchers pay Polkton landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Polkton.

The maximum amount a voucher would pay on behalf of a low-income tenant in Polkton, North Carolina for a two-bedroom apartment is between $868 and $1,060.

2023 Polkton, 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
Polkton, North Carolina Fair Market Rent $645 $732 $964 $1,173 $1,295
Polkton, North Carolina Payment Standard Range $581 to $710 $659 to $805 $868 to $1,060 $1,056 to $1,290 $1,166 to $1,425

Sourced from federal housing data and AffordableHousingOnline.com research.

Polkton, NC Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 80
Total Housing Units with Rental Assistance 32
Percentage of Housing Units Occupied By Renters 47.81%
Average Renter Household Size 2.73
Average Household Size 3.08
Median Household Income $30,667 ±$8,464
Median Rent $656 ±$87
Percentage Of Renters Overburdened 51.41% ± 16.78pp
Total Population 3,372

Population and Household Demographics

Polkton is a city in Anson County, North Carolina with a population of 3,372. There are 594 households in the city with an average household size of 3.08 persons. 47.81% of households in Polkton are renters.

Income and Rent Overburden in Polkton

The median gross income for households in Polkton is $30,667 a year, or $2,556 a month. The median rent for the city is $656 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Polkton, a household making less than $2,187 a month would be considered overburdened when renting an apartment at or above the median rent. 51.41% of households who rent are overburdened in Polkton.

Area Median Income In Polkton

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 Polkton, the AMI is calculated from all households within Anson County.

In Polkton, HUD calculates the Area Median Income for a family of four as $62,700

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 Polkton

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 Polkton

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