Affordable Housing In Coldwater
Mercer County, Ohio

1 Low Income Apartment Communities In Coldwater

There are 1 low income housing apartment complexes which contain 200 affordable apartments for rent in Coldwater. Many of these rental apartments are income based housing with 200 apartments that set rent based on your income. In Coldwater, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 0 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Guide To Affordable Housing in Coldwater, Ohio

Coldwater, OH Affordable Housing Snapshot

Total Affordable Apartment Properties	1
Total Low Income Apartments	200
Total Rent Assisted Apartments	200
Percentage of Housing Units Occupied By Renters	26.45%
Average Renter Household Size	1.41
Total Population	4,327
Housing Units	1,781
Average Household Size	2.35
Median Household Income	$48,792 ±$7,844
Median Rent	$548 ±$35
Percentage Of Renters Overburdened	54.78% ± 17.16pp

Population and Household Demographics

Coldwater is a City in Mercer County, Ohio with a population of 4,327. There are 1,781 households in the city with an average household size of 2.35 persons. 26.45% of households in Coldwater are renters.

Income and Rent Overburden in Coldwater

The median gross income for households in Coldwater is $48,792 a year, or $4,066 a month. The median rent for the city is $548 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Coldwater, a household making less than $1,827 a month would be considered overburdened when renting an apartment at or above the median rent. 54.78% of households who rent are overburdened in Coldwater.¹

Area Median Income In Coldwater

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 Coldwater, the AMI is calculated from all households within Mercer County.

In Coldwater, HUD calculates the Area Median Income for a family of four as $73,100

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 Coldwater

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 Coldwater HUD Rental Assistance in Coldwater

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30% of Median	$15,400	$17,600	$21,330	$25,750	$30,170	$34,590	$39,010	$43,430
50% of Median	$25,600	$29,250	$32,900	$36,550	$39,500	$42,400	$45,350	$48,250
80% of Median	$40,950	$46,800	$52,650	$58,500	$63,200	$67,900	$72,550	$77,250

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 Coldwater

Income	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
50% of Median	$25,600	$29,250	$32,900	$36,550	$39,500	$42,400	$45,350	$48,250
60% of Median	$30,720	$35,100	$39,480	$43,860	$47,400	$50,880	$54,420	$57,900

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 Coldwater is $39,480 a year, or $3,290 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,290 by 30% to get a maximum rent of $987 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%	$640	$686	$823	$951	$1,060	$1,170
60%	$768	$823	$987	$1,141	$1,272	$1,404

Fair Market Rents in Coldwater

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.

2019 Fair Market Rents

Studio	One BR	Two BR	Three BR	Four BR
$512	$516	$682	$874	$922