Affordable Housing In Riverlea
Franklin County, Ohio

Guide To Affordable Housing in Riverlea, Ohio

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

Income Based Apartments in Riverlea, Ohio

Riverlea 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 Riverlea, Ohio

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

Housing Choice Vouchers in Riverlea, Ohio

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Riverlea, Ohio for a two-bedroom apartment is between $893 and $1,091.

2020 Riverlea, 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 $677 $794 $992 $1,262 $1,449
Payment Standard Range $609 to $745 $715 to $873 $893 to $1,091 $1,136 to $1,388 $1,304 to $1,594

Sourced from federal housing data and AffordableHousingOnline.com research.

Riverlea, 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 20.83%
Average Renter Household Size 1.96
Average Household Size 2.65
Median Household Income $132,692 ±$44,967
Median Rent $850 ±$321
Percentage Of Renters Overburdened 38% ± 31.42pp
Total Population 636

Population and Household Demographics

Riverlea is a City in Franklin County, Ohio with a population of 636. There are 240 households in the city with an average household size of 2.65 persons. 20.83% of households in Riverlea are renters.

Income and Rent Overburden in Riverlea

The median gross income for households in Riverlea is $132,692 a year, or $11,058 a month. The median rent for the city is $850 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Riverlea, a household making less than $2,833 a month would be considered overburdened when renting an apartment at or above the median rent. 38% of households who rent are overburdened in Riverlea.1

Area Median Income In Riverlea

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 Riverlea, the AMI is calculated from all households within Franklin County.

In Riverlea, HUD calculates the Area Median Income for a family of four as $78,000

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 Riverlea

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 Riverlea

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $16,400 $18,750 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $27,300 $31,200 $35,100 $39,000 $42,150 $45,250 $48,400 $51,500
80% of Median $43,700 $49,950 $56,200 $62,400 $67,400 $72,400 $77,400 $82,400