Affordable Housing In Albany
Benton County, Oregon

15 Low Income Apartment Communities In Albany

Hillhouse Apartments

1900 Hill St SE
Albany, OR
Call For Rent
1-5 BR
HCV Welcome

Millwood Manor Apartments

2550 14th Ave SE # 14
Albany, OR
Call For Rent
1 BR

Santiam Terrace Apartments

855 Chicago St SE
Albany, OR
Call For Rent
Studio-1 BR
HCV Welcome

Oak Plaza

1265 Salem Ave SE
Albany, OR

Brooklawn Apartments

2070 Queen Ave SW
Albany, OR
HCV Welcome

Periwinkle Place

2300 Queen Ave SE
Albany, OR
HCV Welcome

Park Rose

6th Ave & Burkhart St
Albany, OR
HCV Welcome

30th Place Duplex

204 30th Pl SE
Albany, OR
HCV Welcome

Mitchell Place

1921 Waverly Dr SE
Albany, OR
HCV Welcome

Songbird Village

215 21st St SE
Albany, OR
HCV Welcome

Other Housing Authorities located in Albany

Housing Authority Programs
Linn-Benton Housing Authority Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Albany, Oregon

There are 15 low income housing apartment communities offering 460 affordable apartments for rent in Albany, Oregon. Albany features 162 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 298 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Albany.

Sourced from federal housing data and research.

Albany, OR Affordable Housing Snapshot

Total Affordable Apartment Properties 15
Total Low Income Apartments 460
Total Housing Units with Rental Assistance 162
Percentage of Housing Units Occupied By Renters 41.02%
Average Renter Household Size 2.46
Average Household Size 2.57
Median Household Income $47,150 ±$2,244
Median Rent $801 ±$25
Percentage Of Renters Overburdened 55% ± 4.61pp
Total Population 51,511

Population and Household Demographics

Albany is a City in Benton County, Oregon with a population of 51,511. There are 19,729 households in the city with an average household size of 2.57 persons. 41.02% of households in Albany are renters.

Income and Rent Overburden in Albany

The median gross income for households in Albany is $47,150 a year, or $3,929 a month. The median rent for the city is $801 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Albany, a household making less than $2,670 a month would be considered overburdened when renting an apartment at or above the median rent. 55% of households who rent are overburdened in Albany.1

Area Median Income In Albany

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 Albany, the AMI is calculated from all households within Benton County.

In Albany, HUD calculates the Area Median Income for a family of four as $83,700

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 Albany

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 Albany HUD Rental Assistance in Albany

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,600 $20,100 $22,600 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $29,300 $33,500 $37,700 $41,850 $45,200 $48,550 $51,900 $55,250
80% of Median $46,900 $53,600 $60,300 $66,950 $72,350 $77,700 $83,050 $88,400
Low Income Housing Tax Credits in Albany

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

From 1988 to 2009, 8 low income apartment communities containing 243 rental apartments have been constructed and made affordable to low income persons in Albany 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 Albany

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $29,300 $33,500 $37,700 $41,850 $45,200 $48,550 $51,900 $55,250
60% of Median $35,160 $40,200 $45,240 $50,220 $54,240 $58,260 $62,280 $66,300

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 Albany is $45,240 a year, or $3,770 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,770 by 30% to get a maximum rent of $1,131 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% $733 $785 $943 $1,088 $1,214 $1,339
60% $879 $942 $1,131 $1,306 $1,457 $1,607
Fair Market Rents in Albany

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.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$869 $991 $1,177 $1,698 $2,066