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Affordable Housing In Chepachet
Providence County, Rhode Island

1 Low Income Apartment Communities In Chepachet

Laurel Crest - Pine Meadow CO

64 Chestnut Hill Rd
Chepachet, Rhode Island
Subsidized
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Guide To Affordable Housing in Chepachet, Rhode Island

There are 1 low income housing apartment communities offering 310 affordable apartments for rent in Chepachet, Rhode Island.

Income Based Apartments in Chepachet, Rhode Island

Chepachet features 310 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 Chepachet, Rhode Island

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

Housing Choice Vouchers in Chepachet, Rhode Island

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Chepachet, Rhode Island for a two-bedroom apartment is between $968 and $1,183.

2020 Chepachet, Rhode Island 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 $794 $898 $1,075 $1,340 $1,591
Payment Standard Range $715 to $873 $808 to $988 $968 to $1,183 $1,206 to $1,474 $1,432 to $1,750

Sourced from federal housing data and AffordableHousingOnline.com research.

Chepachet, RI Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 310
Total Housing Units with Rental Assistance 310
Percentage of Housing Units Occupied By Renters 23.23%
Average Renter Household Size 1.91
Average Household Size 2.53
Median Household Income $78,750 ±$16,082
Median Rent $0 ±$0
Percentage Of Renters Overburdened 25.17% ± 19.79pp
Total Population 1,656

Population and Household Demographics

Chepachet is a city in Providence County, Rhode Island with a population of 1,656. There are 650 households in the city with an average household size of 2.53 persons. 23.23% of households in Chepachet are renters.

Income and Rent Overburden in Chepachet

The median gross income for households in Chepachet is $78,750 a year, or $6,563 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 Chepachet, a household making less than $0 a month would be considered overburdened when renting an apartment at or above the median rent. 25.17% of households who rent are overburdened in Chepachet.

Area Median Income In Chepachet

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 Chepachet, the AMI is calculated from all households within Providence County.

In Chepachet, HUD calculates the Area Median Income for a family of four as $87,000

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 Chepachet

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 Chepachet

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $18,300 $20,900 $23,500 $26,200 $30,680 $35,160 $39,640 $44,120
50% of Median $30,450 $34,800 $39,150 $43,500 $47,000 $50,500 $53,950 $57,450
80% of Median $48,750 $55,700 $62,650 $69,600 $75,200 $80,750 $86,350 $91,900