Affordable Housing In Great Falls
2 Low Income Apartment Communities In Great Falls
Housing Authorities that serve Great Falls
|Rock Hill Housing Authority||Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV)|
Guide To Affordable Housing in Great Falls, South Carolina
There are 2 low income housing apartment communities offering 34 affordable apartments for rent in Great Falls, South Carolina.
Income Based Apartments in Great Falls, South Carolina
Great Falls features 24 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 Great Falls, South Carolina
There are 10 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Great Falls.
Housing Choice Vouchers in Great Falls, South Carolina
On average, Section 8 Housing Choice vouchers pay Great Falls landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Great Falls.
The maximum amount a voucher would pay on behalf of a low-income tenant in Great Falls, South Carolina for a two-bedroom apartment is between $648 and $792.
2021 Great Falls, South Carolina 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|
|Great Falls, South Carolina Fair Market Rent||$553||$556||$720||$941||$1,109|
|Great Falls, South Carolina Payment Standard Range||$498 to $608||$500 to $612||$648 to $792||$847 to $1,035||$998 to $1,220|
Sourced from federal housing data and AffordableHousingOnline.com research.
Great Falls, SC Affordable Housing Snapshot
|Total Affordable Apartment Properties||2|
|Total Low Income Apartments||34|
|Total Housing Units with Rental Assistance||24|
|Percentage of Housing Units Occupied By Renters||31.71%|
|Average Renter Household Size||3.11|
|Average Household Size||2.70|
|Median Household Income||$27,887 ±$2,495|
|Median Rent||$593 ±$85|
|Percentage Of Renters Overburdened||31.58% ± 12.22pp|
Population and Household Demographics
Great Falls is a city in Chester County, South Carolina with a population of 1,944. There are 719 households in the city with an average household size of 2.70 persons. 31.71% of households in Great Falls are renters.
Income and Rent Overburden in Great Falls
The median gross income for households in Great Falls is $27,887 a year, or $2,324 a month. The median rent for the city is $593 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Great Falls, a household making less than $1,977 a month would be considered overburdened when renting an apartment at or above the median rent. 31.58% of households who rent are overburdened in Great Falls.
Area Median Income In Great Falls
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 Great Falls, the AMI is calculated from all households within Chester County.
In Great Falls, HUD calculates the Area Median Income for a family of four as $57,100
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 Great Falls
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 Great Falls
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Great Falls AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Great Falls AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Great Falls AMI may qualify for rental assistance programs that target Low Income households.