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Affordable Housing In Bean Station
Grainger County, Tennessee

1 Low Income Apartment Communities In Bean Station

Vol Housing Mgm Rutledge

Lakeway Apartments
Bean Station, Tennessee
Accepts Vouchers
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Housing Authorities that serve Bean Station

Housing Authority Programs
Tennessee Housing Development Agency Central Office Section 8 Housing Choice Voucher (HCV); Mainstream Voucher
Tennessee Housing Development Agency East Tennessee Office Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-Sufficiency

Guide To Affordable Housing in Bean Station, Tennessee

There are 1 low income housing apartment communities offering 11 affordable apartments for rent in Bean Station, Tennessee.

Income Based Apartments in Bean Station, Tennessee

Bean Station features 0 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 Bean Station, Tennessee

There are 11 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bean Station.

Housing Choice Vouchers in Bean Station, Tennessee

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Bean Station, Tennessee for a two-bedroom apartment is between $636 and $778.

2020 Bean Station, Tennessee 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 $487 $621 $707 $931 $958
Payment Standard Range $438 to $536 $559 to $683 $636 to $778 $838 to $1,024 $862 to $1,054

Sourced from federal housing data and research.

Bean Station, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 11
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 20.81%
Average Renter Household Size 2.38
Average Household Size 2.30
Median Household Income $31,007 ±$5,134
Median Rent $667 ±$168
Percentage Of Renters Overburdened 46.95% ± 16.15pp
Total Population 3,089

Population and Household Demographics

Bean Station is a city in Grainger County, Tennessee with a population of 3,089. There are 1,341 households in the city with an average household size of 2.30 persons. 20.81% of households in Bean Station are renters.

Income and Rent Overburden in Bean Station

The median gross income for households in Bean Station is $31,007 a year, or $2,584 a month. The median rent for the city is $667 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bean Station, a household making less than $2,223 a month would be considered overburdened when renting an apartment at or above the median rent. 46.95% of households who rent are overburdened in Bean Station.

Area Median Income In Bean Station

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 Bean Station, the AMI is calculated from all households within Grainger County.

In Bean Station, HUD calculates the Area Median Income for a family of four as $50,700

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 Bean Station

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 Bean Station

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $28,350 $30,450 $32,550 $34,650
50% of Median $18,400 $21,000 $23,650 $26,250 $28,350 $30,450 $32,550 $34,650
80% of Median $29,400 $33,600 $37,800 $42,000 $45,400 $48,750 $52,100 $55,450