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Affordable Housing In Portage Lakes
Summit County, Ohio

Housing Authorities that serve Portage Lakes

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

Guide To Affordable Housing in Portage Lakes, Ohio

There are 0 low income housing apartment communities offering 0 affordable apartments for rent in Portage Lakes, Ohio.

Income Based Apartments in Portage Lakes, Ohio

Portage Lakes features 0 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 Portage Lakes, Ohio

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Portage Lakes.

Housing Choice Vouchers in Portage Lakes, Ohio

On average, Section 8 Housing Choice vouchers pay Portage Lakes landlords $500 per month towards rent. The average voucher holder contributes $200 towards rent in Portage Lakes.

The maximum amount a voucher would pay on behalf of a low-income tenant in Portage Lakes, Ohio for a two-bedroom apartment is between $764 and $934.

2021 Portage Lakes, Ohio 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
Portage Lakes, Ohio Fair Market Rent $566 $664 $849 $1,069 $1,151
Portage Lakes, Ohio Payment Standard Range $509 to $623 $598 to $730 $764 to $934 $962 to $1,176 $1,036 to $1,266

Sourced from federal housing data and AffordableHousingOnline.com research.

Portage Lakes, OH Affordable Housing Snapshot

Total Affordable Apartment Properties 0
Total Low Income Apartments 0
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 38.29%
Average Renter Household Size 1.74
Average Household Size 2.20
Median Household Income $53,421 ±$5,848
Median Rent $782 ±$27
Percentage Of Renters Overburdened 40.54% ± 11.55pp
Total Population 7,038

Population and Household Demographics

Portage Lakes is a city in Summit County, Ohio with a population of 7,038. There are 3,176 households in the city with an average household size of 2.20 persons. 38.29% of households in Portage Lakes are renters.

Income and Rent Overburden in Portage Lakes

The median gross income for households in Portage Lakes is $53,421 a year, or $4,452 a month. The median rent for the city is $782 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Portage Lakes, a household making less than $2,607 a month would be considered overburdened when renting an apartment at or above the median rent. 40.54% of households who rent are overburdened in Portage Lakes.

Area Median Income In Portage Lakes

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 Portage Lakes, the AMI is calculated from all households within Summit County.

In Portage Lakes, HUD calculates the Area Median Income for a family of four as $83,300

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 Portage Lakes

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 Portage Lakes

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 Portage Lakes AMI may qualify for rental assistance programs that target Extremely Low Income households.
$16,850 $19,250 $21,960 $26,500 $31,040 $35,580 $40,120 $44,660
50% AMI Income Limits
Renters earning up to 50% of the Portage Lakes AMI may qualify for rental assistance programs that target Very Low Income households.
$28,050 $32,050 $36,050 $40,050 $43,300 $46,500 $49,700 $52,900
80% AMI Income Limits
Renters earning up to 80% of the Portage Lakes AMI may qualify for rental assistance programs that target Low Income households.
$44,900 $51,300 $57,700 $64,100 $69,250 $74,400 $79,500 $84,650