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Affordable Housing In Richwood
Union County, Ohio

1 Low Income Apartment Communities In Richwood

Richwood Greene

235 Grove St
Richwood, Ohio
Subsidized
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Guide To Affordable Housing in Richwood, Ohio

There are 1 low income housing apartment communities offering 42 affordable apartments for rent in Richwood, Ohio.

Income Based Apartments in Richwood, Ohio

Richwood features 42 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 Richwood, Ohio

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

Housing Choice Vouchers in Richwood, Ohio

On average, Section 8 Housing Choice vouchers pay Richwood landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Richwood.

The maximum amount a voucher would pay on behalf of a low-income tenant in Richwood, Ohio for a two-bedroom apartment is between $890 and $1,088.

2020 Richwood, 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
Fair Market Rent $675 $751 $989 $1,252 $1,401
Payment Standard Range $608 to $743 $676 to $826 $890 to $1,088 $1,127 to $1,377 $1,261 to $1,541

Sourced from federal housing data and AffordableHousingOnline.com research.

Richwood, OH Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 42
Total Housing Units with Rental Assistance 42
Percentage of Housing Units Occupied By Renters 38.45%
Average Renter Household Size 2.72
Average Household Size 2.62
Median Household Income $38,243 ±$7,408
Median Rent $666 ±$35
Percentage Of Renters Overburdened 47.15% ± 13.83pp
Total Population 2,268

Population and Household Demographics

Richwood is a city in Union County, Ohio with a population of 2,268. There are 866 households in the city with an average household size of 2.62 persons. 38.45% of households in Richwood are renters.

Income and Rent Overburden in Richwood

The median gross income for households in Richwood is $38,243 a year, or $3,187 a month. The median rent for the city is $666 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Richwood, a household making less than $2,220 a month would be considered overburdened when renting an apartment at or above the median rent. 47.15% of households who rent are overburdened in Richwood.

Area Median Income In Richwood

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 Richwood, the AMI is calculated from all households within Union County.

In Richwood, HUD calculates the Area Median Income for a family of four as $95,600

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 Richwood

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 Richwood

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $19,800 $22,600 $25,450 $28,250 $30,680 $35,160 $39,640 $44,120
50% of Median $32,950 $37,650 $42,350 $47,050 $50,850 $54,600 $58,350 $62,150
80% of Median $52,700 $60,200 $67,750 $75,250 $81,300 $87,300 $93,350 $99,350