Affordable Housing In Beaver
Pike County, Ohio

2 Low Income Apartment Communities In Beaver

Pike Cnty Dev. and Imp. Off - N - B - 97 - 518 - 1

110 1st St
Beaver, OH
HCV Welcome

Beaver Meadows

7070 State Route 335
Beaver, OH
Subsidized
  • «
  • 1
  • »

Housing Authorities that serve Beaver

Housing Authority Programs
Pike Metropolitan Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Beaver, Ohio

According to federal housing data and AffordableHousingOnline.com research, there are 2 low income housing apartment communities offering 55 affordable apartments for rent in Beaver, Ohio. Beaver features 23 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 32 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Beaver.

Beaver, OH Affordable Housing Snapshot

Total Affordable Apartment Properties 2
Total Low Income Apartments 55
Total Housing Units with Rental Assistance 23
Percentage of Housing Units Occupied By Renters 57.89%
Average Renter Household Size 2.92
Average Household Size 2.79
Median Household Income $22,813 ±$8,450
Median Rent $550 ±$209
Percentage Of Renters Overburdened 39.09% ± 20.61pp
Total Population 531

Population and Household Demographics

Beaver is a City in Pike County, Ohio with a population of 531. There are 190 households in the city with an average household size of 2.79 persons. 57.89% of households in Beaver are renters.

Income and Rent Overburden in Beaver

The median gross income for households in Beaver is $22,813 a year, or $1,901 a month. The median rent for the city is $550 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Beaver, a household making less than $1,833 a month would be considered overburdened when renting an apartment at or above the median rent. 39.09% of households who rent are overburdened in Beaver.1

Area Median Income In Beaver

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 Beaver, the AMI is calculated from all households within Pike County.

In Beaver, HUD calculates the Area Median Income for a family of four as $52,400

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 Beaver

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 Beaver HUD Rental Assistance in Beaver

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,750 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,200
50% of Median $22,900 $26,200 $29,450 $32,700 $35,350 $37,950 $40,550 $43,200
80% of Median $36,650 $41,850 $47,100 $52,300 $56,500 $60,700 $64,900 $69,050
Low Income Housing Tax Credits in Beaver

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

From 1994 to 1999, 2 low income apartment communities containing 55 rental apartments have been constructed and made affordable to low income persons in Beaver 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 Beaver

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $22,900 $26,200 $29,450 $32,700 $35,350 $37,950 $40,550 $43,200
60% of Median $27,480 $31,440 $35,340 $39,240 $42,420 $45,540 $48,660 $51,840

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 Beaver is $35,340 a year, or $2,945 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,945 by 30% to get a maximum rent of $884 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% $573 $614 $736 $851 $949 $1,047
60% $687 $737 $884 $1,021 $1,139 $1,256
Fair Market Rents in Beaver

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
$517 $576 $696 $935 $1,037