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Affordable Housing In Yankee Lake
Trumbull County, Ohio

Housing Authorities that serve Yankee Lake

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

Guide To Affordable Housing in Yankee Lake, Ohio

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

Income Based Apartments in Yankee Lake, Ohio

Yankee Lake 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 Yankee Lake, Ohio

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

Housing Choice Vouchers in Yankee Lake, Ohio

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Yankee Lake, Ohio for a two-bedroom apartment is between $630 and $770.

2020 Yankee Lake, 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 $482 $557 $700 $917 $1,003
Payment Standard Range $434 to $530 $501 to $613 $630 to $770 $825 to $1,009 $903 to $1,103

Sourced from federal housing data and AffordableHousingOnline.com research.

Yankee Lake, 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 34.15%
Average Renter Household Size 2.14
Average Household Size 2.20
Median Household Income $49,063 ±$17,708
Median Rent $0 ±$0
Percentage Of Renters Overburdened 14.29% ± 137.31pp
Total Population 90

Population and Household Demographics

Yankee Lake is a city in Trumbull County, Ohio with a population of 90. There are 41 households in the city with an average household size of 2.20 persons. 34.15% of households in Yankee Lake are renters.

Income and Rent Overburden in Yankee Lake

The median gross income for households in Yankee Lake is $49,063 a year, or $4,089 a month. The median rent for the city is $0 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Yankee Lake, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 14.29% of households who rent are overburdened in Yankee Lake.

Area Median Income In Yankee Lake

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 Yankee Lake, the AMI is calculated from all households within Trumbull County.

In Yankee Lake, HUD calculates the Area Median Income for a family of four as $60,700

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 Yankee Lake

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 Yankee Lake

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