Affordable Housing In Exeter
Berks County, Pennsylvania

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There are 1 low income housing apartment complexes which contain 46 affordable apartments for rent in Exeter, Pennsylvania. Many of these rental apartments are income based housing with about 0 apartments that set rent based on your income. Often referred to as "HUD apartments", there are 0 Project-Based Section 8 subsidized apartments in Exeter. There are 46 other low income apartments that don't have rental assistance but are still considered to be affordable housing for low income families.

The HUD funded Public Housing Agency that serves Exeter is the Berks County Housing Authority.

Affordable Apartments in Exeter

222 Schooley Ave
Exeter, Pennsylvania
Exeter Senior Apartments is a 46 unit low income housing apartment community in Exeter.
Apartments in this community are not rent subsidized. However, this apartment community has rents considered affordable for low income families in Exeter.
Low Income Housing Tax Credit
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Housing Authorities that serve Exeter

The Berks County Housing Authority is a Section 8 and Public Housing public housing agency in Reading, Pennsylvania.

Understanding Affordable Housing in Exeter, Pennsylvania

Area Median Income In Exeter

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 Exeter, the AMI is calculated from all households within Berks County.

In Exeter, HUD calculates the Area Median Income for a family of four as $68,900

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 Exeter

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.

Exeter HUD Rental Assistance Income Limits

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $14,500 $16,550 $20,420 $24,600 $28,780 $32,960 $37,140 $41,320
50% $24,150 $27,600 $31,050 $34,450 $37,250 $40,000 $42,750 $45,500
80% $38,600 $44,100 $49,600 $55,100 $59,550 $63,950 $68,350 $72,750

You can identify apartment communities that participate in a program that provides rental assistance by looking for the tags in the apartment list above. View Apartments.

Low Income Housing Tax Credits in Exeter

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

From 1991 to 1991, 1 low income apartment communities containing 46 rental apartments have been constructed and made affordable to low income persons in Exeter by the Low Income Housing Tax Credit Program.

You can identify apartment communities that participate in the program in Exeter by looking for the tag in the apartment list above. View Apartments.

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.

Exeter Low Income Housing Tax Credit Income Limits

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% $24,150 $27,600 $31,050 $34,450 $37,250 $40,000 $42,750 $45,500
HERA 50% $26,550 $30,350 $34,150 $37,900 $40,950 $44,000 $47,000 $50,050
60% $28,980 $33,120 $37,260 $41,340 $44,700 $48,000 $51,300 $54,600
HERA 60% $31,860 $36,420 $40,980 $45,480 $49,140 $52,800 $56,400 $60,060

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 Exeter is $37,260 a year, or $3,105 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,105 by 30% to get a maximum rent of $932 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 2 Bed 3 Bed 4 Bed 1 Bed 5 Bed
50% $604 $647 $776 $896 $1,000 $1,103
60% $725 $776 $932 $1,076 $1,200 $1,324
Fair Market Rents in Exeter

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.

2017 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$606 $722 $955 $1,195 $1,316