Affordable Housing In Corvallis
Benton County, Oregon

13 Low Income Apartment Communities In Corvallis

Alexander Court

100 SW Alexander Ave
Corvallis, OR
$590-877
1-3 BR
Accessible
HCV Welcome

Walnut Court Apartments

842 NE 2nd St
Corvallis, OR
Call For Rent
Studio-1 BR
62+
HCV Welcome
Subsidized

Glenwood Manor Apartments

1687 NW Division St
Corvallis, OR
Call For Rent
1 BR
Subsidized

Seavey Meadows

1099 NE Sorrel Pl
Corvallis, OR
$583
1 BR
HCV Welcome

Larson Commons

2560 SW 3rd St
Corvallis, OR
HCV Welcome

Lancaster Bridge

3384A NE Oxford Cir
Corvallis, OR
HCV Welcome

Camas Commons

5140 SW Meadow Flower Dr
Corvallis, OR
Accessible
HCV Welcome

South Corvallis Townhouses I

2520 SW Pickford St
Corvallis, OR
HCV Welcome

South Corvallis Townhouses II

2564 SW Pickford St
Corvallis, OR
HCV Welcome

Janus House

606 SW 5th St
Corvallis, OR
62+
Accessible
Elderly Supportive Housing
Subsidized

There are 13 low income housing apartment complexes which contain 494 affordable apartments for rent in Corvallis. Many of these rental apartments are income based housing with 225 apartments that set rent based on your income. In Corvallis, HUD housing programs support 218 rental assistance apartments through programs like Project-based Section 8. There are 269 other low income apartments that don't have rental assistance but are cheaper than market rate rents.

Guide To Affordable Housing in Corvallis, Oregon

Corvallis, OR Affordable Housing Snapshot

Total Affordable Apartment Properties 13
Total Low Income Apartments 494
Total Rent Assisted Apartments 225
Percentage of Housing Units Occupied By Renters 56.29%
Average Renter Household Size 2.25
Total Population 54,981
Housing Units 21,588
Average Household Size 2.31
Median Household Income $42,488 ±$2,301
Median Rent $868 ±$17
Percentage Of Renters Overburdened 54.77% ± 3.1pp

Population and Household Demographics

Corvallis is a City in Benton County, Oregon with a population of 54,981. There are 21,588 households in the city with an average household size of 2.31 persons. 56.29% of households in Corvallis are renters.

Income and Rent Overburden in Corvallis

The median gross income for households in Corvallis is $42,488 a year, or $3,541 a month. The median rent for the city is $868 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Corvallis, a household making less than $2,893 a month would be considered overburdened when renting an apartment at or above the median rent. 54.77% of households who rent are overburdened in Corvallis.1

Area Median Income In Corvallis

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

In Corvallis, 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 Corvallis

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 Corvallis HUD Rental Assistance in Corvallis

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 Corvallis

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

From 1996 to 2012, 3 low income apartment communities containing 153 rental apartments have been constructed and made affordable to low income persons in Corvallis 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 Corvallis

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 Corvallis 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 Corvallis

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
$767 $886 $1,066 $1,541 $1,872