Affordable Housing In Elyria
Lorain County, Ohio

11 Low Income Apartment Communities In Elyria

The Cottages at Riverview

550 Sommer Way
Elyria, OH
Call For Rent
1-2 BR
HCV Welcome

Harr Plaza

15 Chestnut St
Elyria, OH
Subsidized

Kensington Square Apartments

535 Abbe Rd S
Elyria, OH
Subsidized

R J Gordon Manor

511 Fuller Rd
Elyria, OH
62+
Accessible
Elderly Supportive Housing
Subsidized

Midview Crossing

1864 Middle Ave
Elyria, OH
Subsidized

Foster Garden

421 Foster Ave
Elyria, OH
Subsidized

Westway Gardens

731 Infirmary Rd
Elyria, OH
Subsidized

Chadwick Place

160 Ridge Circle Ln
Elyria, OH
Subsidized

Park Meadow Phase V

208 Park Meadow Ln
Elyria, OH
HCV Welcome

New Riverbend Homes

359 Sommer Way
Elyria, OH
HCV Welcome

There are 11 low income housing apartment complexes which contain 1,378 affordable apartments for rent in Elyria. Many of these rental apartments are income based housing with 1,240 apartments that set rent based on your income. In Elyria, HUD housing programs support 828 rental assistance apartments through programs like Project-based Section 8. There are 138 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Guide To Affordable Housing in Elyria, Ohio

Elyria, OH Affordable Housing Snapshot

Total Affordable Apartment Properties 11
Total Low Income Apartments 1,378
Total Rent Assisted Apartments 1,240
Percentage of Housing Units Occupied By Renters 41.26%
Average Renter Household Size 2.29
Total Population 54,050
Housing Units 22,551
Average Household Size 2.36
Median Household Income $40,952 ±$1,759
Median Rent $707 ±$19
Percentage Of Renters Overburdened 50.05% ± 4.26pp

Population and Household Demographics

Elyria is a City in Lorain County, Ohio with a population of 54,050. There are 22,551 households in the city with an average household size of 2.36 persons. 41.26% of households in Elyria are renters.

Income and Rent Overburden in Elyria

The median gross income for households in Elyria is $40,952 a year, or $3,413 a month. The median rent for the city is $707 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Elyria, a household making less than $2,357 a month would be considered overburdened when renting an apartment at or above the median rent. 50.05% of households who rent are overburdened in Elyria.1

Area Median Income In Elyria

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 Elyria, the AMI is calculated from all households within Lorain County.

In Elyria, HUD calculates the Area Median Income for a family of four as $73,700

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 Elyria

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 Elyria HUD Rental Assistance in Elyria

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $15,500 $17,700 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $25,800 $29,500 $33,200 $36,850 $39,800 $42,750 $45,700 $48,650
80% of Median $41,300 $47,200 $53,100 $58,950 $63,700 $68,400 $73,100 $77,850
Low Income Housing Tax Credits in Elyria

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

From 1997 to 2010, 4 low income apartment communities containing 566 rental apartments have been constructed and made affordable to low income persons in Elyria 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 Elyria

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $25,800 $29,500 $33,200 $36,850 $39,800 $42,750 $45,700 $48,650
60% of Median $30,960 $35,400 $39,840 $44,220 $47,760 $51,300 $54,840 $58,380

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 Elyria is $39,840 a year, or $3,320 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,320 by 30% to get a maximum rent of $996 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% $645 $691 $830 $958 $1,069 $1,179
60% $774 $830 $996 $1,150 $1,283 $1,415
Fair Market Rents in Elyria

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
$569 $678 $836 $1,102 $1,158