Affordable Housing In Bedford County
Tennessee
Waiting List Openings In Bedford County
| Waiting List | Status |
|---|---|
| Tennessee Housing Development Agency Central Office Housing Choice Voucher | Open Soon |
29 Low Income Apartment Communities In Bedford County
Tony Rice Trans Living
Housing Authorities that serve Bedford County
| Housing Authority | Programs |
|---|---|
| Tennessee Housing Development Agency Central Office | Section 8 Housing Choice Voucher (HCV); Mainstream Voucher |
| Tennessee Housing Development Agency South Central Tennessee Office | Section 8 Housing Choice Voucher (HCV) |
Other Housing Authorities located in Bedford County
| Housing Authority | Programs |
|---|---|
| Shelbyville Housing Authority | Public Housing |
Guide To Affordable Housing in Bedford County, Tennessee
There are 29 low income housing apartment communities offering 1,501 affordable apartments for rent in Bedford County, Tennessee. Bedford County features 842 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 659 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Bedford County.
Sourced from federal housing data and AffordableHousingOnline.com research.
Bedford County, TN Affordable Housing Snapshot
| Total Affordable Apartment Properties | 29 |
|---|---|
| Total Low Income Apartments | 1,501 |
| Total Housing Units with Rental Assistance | 842 |
| Percentage of Housing Units Occupied By Renters | 31.82% |
| Average Renter Household Size | 2.73 |
| Average Household Size | 2.72 |
| Median Household Income | $41,984 ±$2,178 |
| Median Rent | $675 ±$32 |
| Percentage Of Renters Overburdened | 44.38% ± 6.04pp |
| Total Population | 45,986 |
Population and Household Demographics
Bedford County is a County in Tennessee with a population of 45,986. There are 16,721 households in the county with an average household size of 2.72 persons. 31.82% of households in Bedford County are renters.
Income and Rent Overburden in Bedford County
The median gross income for households in Bedford County is $41,984 a year, or $3,499 a month. The median rent for the county is $675 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bedford County, a household making less than $2,250 a month would be considered overburdened when renting an apartment at or above the median rent. 44.38% of households who rent are overburdened in Bedford County.1
Area Median Income In Bedford County
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.
In Bedford County, HUD calculates the Area Median Income for a family of four as $53,300
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 Bedford County
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 Bedford County HUD Rental Assistance in Bedford County
| 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 | $28,800 | $30,950 | $33,050 | $35,200 |
| 50% of Median | $18,700 | $21,350 | $24,000 | $26,650 | $28,800 | $30,950 | $33,050 | $35,200 |
| 80% of Median | $29,900 | $34,150 | $38,400 | $42,650 | $46,100 | $49,500 | $52,900 | $56,300 |
Low Income Housing Tax Credits in Bedford County
The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.
From 1987 to 2011, 10 low income apartment communities containing 572 rental apartments have been constructed and made affordable to low income persons in Bedford County 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 Bedford County
| Income | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 50% of Median | $18,700 | $21,350 | $24,000 | $26,650 | $28,800 | $30,950 | $33,050 | $35,200 |
| 60% of Median | $22,440 | $25,620 | $28,800 | $31,980 | $34,560 | $37,140 | $39,660 | $42,240 |
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 Bedford County is $28,800 a year, or $2,400 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,400 by 30% to get a maximum rent of $720 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% | $468 | $501 | $600 | $693 | $774 | $853 |
| 60% | $561 | $601 | $720 | $832 | $929 | $1,024 |
Fair Market Rents in Bedford County
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.
2020 Fair Market Rents
| Studio | One BR | Two BR | Three BR | Four BR |
|---|---|---|---|---|
| $590 | $594 | $768 | $979 | $1,173 |
Cities In Bedford County
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