Affordable Housing In Van Wert
Van Wert County, Ohio

3 Low Income Apartment Communities In Van Wert

Homestead Village

1254 S Shannon St
Van Wert, OH
62+
Accessible
Elderly Supportive Housing
Subsidized

Quail Run Apartments

645 N Franklin St
Van Wert, OH
HCV Welcome

Apple Glen Townhomes

1116 Kear Rd
Van Wert, OH
HCV Welcome
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There are 3 low income housing apartment complexes which contain 160 affordable apartments for rent in Van Wert. Many of these rental apartments are income based housing with 60 apartments that set rent based on your income. In Van Wert, HUD housing programs support 0 rental assistance apartments through programs like Project-based Section 8. There are 100 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Guide To Affordable Housing in Van Wert, Ohio

Van Wert, OH Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 160
Total Rent Assisted Apartments 60
Percentage of Housing Units Occupied By Renters 37.85%
Average Renter Household Size 2.53
Total Population 10,769
Housing Units 4,378
Average Household Size 2.40
Median Household Income $37,266 ±$4,933
Median Rent $615 ±$44
Percentage Of Renters Overburdened 42.85% ± 9.71pp

Population and Household Demographics

Van Wert is a City in Van Wert County, Ohio with a population of 10,769. There are 4,378 households in the city with an average household size of 2.40 persons. 37.85% of households in Van Wert are renters.

Income and Rent Overburden in Van Wert

The median gross income for households in Van Wert is $37,266 a year, or $3,106 a month. The median rent for the city is $615 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Van Wert, a household making less than $2,050 a month would be considered overburdened when renting an apartment at or above the median rent. 42.85% of households who rent are overburdened in Van Wert.1

Area Median Income In Van Wert

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 Van Wert, the AMI is calculated from all households within Van Wert County.

In Van Wert, HUD calculates the Area Median Income for a family of four as $64,200

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 Van Wert

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 Van Wert HUD Rental Assistance in Van Wert

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,750 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,200
50% of Median $22,900 $26,200 $29,450 $32,700 $35,350 $37,950 $40,550 $43,200
80% of Median $36,650 $41,850 $47,100 $52,300 $56,500 $60,700 $64,900 $69,050
Low Income Housing Tax Credits in Van Wert

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

From 1997 to 1998, 2 low income apartment communities containing 100 rental apartments have been constructed and made affordable to low income persons in Van Wert 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 Van Wert

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $22,900 $26,200 $29,450 $32,700 $35,350 $37,950 $40,550 $43,200
60% of Median $27,480 $31,440 $35,340 $39,240 $42,420 $45,540 $48,660 $51,840

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 Van Wert is $35,340 a year, or $2,945 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,945 by 30% to get a maximum rent of $884 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% $573 $614 $736 $851 $949 $1,047
60% $687 $737 $884 $1,021 $1,139 $1,256
Fair Market Rents in Van Wert

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
$498 $516 $682 $928 $931