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Affordable Housing In Wakeman
Huron County, Ohio

Housing Authorities that serve Wakeman

Housing Authority Programs
Huron Metropolitan Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Wakeman, Ohio

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

Income Based Apartments in Wakeman, Ohio

Wakeman 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 Wakeman, Ohio

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

Housing Choice Vouchers in Wakeman, Ohio

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Wakeman, Ohio for a two-bedroom apartment is between $674 and $824.

2021 Wakeman, 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 $567 $568 $749 $961 $1,071
Payment Standard Range $510 to $624 $511 to $625 $674 to $824 $865 to $1,057 $964 to $1,178

Sourced from federal housing data and research.

Wakeman, 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 27.8%
Average Renter Household Size 2.58
Average Household Size 2.39
Median Household Income $47,143 ±$8,349
Median Rent $739 ±$147
Percentage Of Renters Overburdened 39.47% ± 18.13pp
Total Population 978

Population and Household Demographics

Wakeman is a city in Huron County, Ohio with a population of 978. There are 410 households in the city with an average household size of 2.39 persons. 27.8% of households in Wakeman are renters.

Income and Rent Overburden in Wakeman

The median gross income for households in Wakeman is $47,143 a year, or $3,929 a month. The median rent for the city is $739 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Wakeman, a household making less than $2,463 a month would be considered overburdened when renting an apartment at or above the median rent. 39.47% of households who rent are overburdened in Wakeman.

Area Median Income In Wakeman

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 Wakeman, the AMI is calculated from all households within Huron County.

In Wakeman, HUD calculates the Area Median Income for a family of four as $62,500

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 Wakeman

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 Wakeman

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,700 $17,240 $21,720 $26,200 $30,680 $35,160 $39,640 $43,000
50% of Median $22,800 $26,050 $29,300 $32,550 $35,200 $37,800 $40,400 $43,000
80% of Median $36,500 $41,700 $46,900 $52,100 $56,300 $60,450 $64,650 $68,800