Affordable Housing In Stanly County
21 Low Income Apartment Communities In Stanly County
Guide To Affordable Housing in Stanly County, North Carolina
There are 21 low income housing apartment communities offering 623 affordable apartments for rent in Stanly County, North Carolina.
Income Based Apartments in Stanly County, North Carolina
Stanly County features 428 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 Stanly County, North Carolina
There are 195 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Stanly County.
Housing Choice Vouchers in Stanly County, North Carolina
On average, Section 8 Housing Choice vouchers pay Stanly County landlords $500 per month towards rent. The average voucher holder contributes $400 towards rent in Stanly County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Stanly County, North Carolina for a two-bedroom apartment is between $624 and $762.
2021 Stanly 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|
|Stanly County, North Carolina Fair Market Rent||$571||$574||$693||$941||$1,159|
|Stanly County, North Carolina Payment Standard Range||$514 to $628||$517 to $631||$624 to $762||$847 to $1,035||$1,043 to $1,275|
Sourced from federal housing data and AffordableHousingOnline.com research.
Stanly County, NC Affordable Housing Snapshot
|Total Affordable Apartment Properties||21|
|Total Low Income Apartments||623|
|Total Housing Units with Rental Assistance||428|
|Percentage of Housing Units Occupied By Renters||28.95%|
|Average Renter Household Size||2.48|
|Average Household Size||2.47|
|Median Household Income||$40,910 ±$1,655|
|Median Rent||$653 ±$30|
|Percentage Of Renters Overburdened||47.87% ± 4.36pp|
Population and Household Demographics
Stanly County is a county in North Carolina with a population of 60,586. There are 23,667 households in the county with an average household size of 2.47 persons. 28.95% of households in Stanly County are renters.
Income and Rent Overburden in Stanly County
The median gross income for households in Stanly County is $40,910 a year, or $3,409 a month. The median rent for the county is $653 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Stanly County, a household making less than $2,177 a month would be considered overburdened when renting an apartment at or above the median rent. 47.87% of households who rent are overburdened in Stanly County.
Area Median Income In Stanly 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 Stanly County, HUD calculates the Area Median Income for a family of four as $62,200
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 Stanly 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 Stanly 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 Stanly County AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Stanly County AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Stanly County AMI may qualify for rental assistance programs that target Low Income households.
Cities In Stanly County
Select A City to View its Apartment Communities and Waiting Lists.
|Albemarle||The HUD funded Public Housing Agency that serves Albemarle is the City of Albemarle Department of Public Housing.|