Affordable Housing In Bolivar
10 Low Income Apartment Communities In Bolivar
Housing Authorities that serve Bolivar
|Bolivar Housing Authority||Public Housing|
|Tennessee Housing Development Agency Central Office||Section 8 Housing Choice Voucher (HCV); Mainstream Voucher|
|Tennessee Housing Development Agency West Tennessee Office||Section 8 Housing Choice Voucher (HCV); Homeownership Voucher; Family Self-Sufficiency; Veteran Affairs Supportive Housing (VASH); Mainstream Voucher|
Guide To Affordable Housing in Bolivar, Tennessee
There are 10 low income housing apartment communities offering 403 affordable apartments for rent in Bolivar, Tennessee.
Income Based Apartments in Bolivar, Tennessee
Bolivar features 308 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 Bolivar, Tennessee
There are 95 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Bolivar.
Housing Choice Vouchers in Bolivar, Tennessee
On average, Section 8 Housing Choice vouchers pay Bolivar landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Bolivar.
The maximum amount a voucher would pay on behalf of a low-income tenant in Bolivar, Tennessee for a two-bedroom apartment is between $584 and $714.
2020 Bolivar, 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||$492||$493||$649||$880||$957|
|Payment Standard Range||$443 to $541||$444 to $542||$584 to $714||$792 to $968||$861 to $1,053|
Sourced from federal housing data and AffordableHousingOnline.com research.
Bolivar, TN Affordable Housing Snapshot
|Total Affordable Apartment Properties||10|
|Total Low Income Apartments||403|
|Total Housing Units with Rental Assistance||308|
|Percentage of Housing Units Occupied By Renters||34.62%|
|Average Renter Household Size||3.36|
|Average Household Size||2.76|
|Median Household Income||$31,272 ±$3,669|
|Median Rent||$622 ±$198|
|Percentage Of Renters Overburdened||65.68% ± 18.52pp|
Population and Household Demographics
Bolivar is a city in Hardeman County, Tennessee with a population of 5,219. There are 1,759 households in the city with an average household size of 2.76 persons. 34.62% of households in Bolivar are renters.
Income and Rent Overburden in Bolivar
The median gross income for households in Bolivar is $31,272 a year, or $2,606 a month. The median rent for the city is $622 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Bolivar, a household making less than $2,073 a month would be considered overburdened when renting an apartment at or above the median rent. 65.68% of households who rent are overburdened in Bolivar.
Area Median Income In Bolivar
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 Bolivar, the AMI is calculated from all households within Hardeman County.
In Bolivar, HUD calculates the Area Median Income for a family of four as $47,900
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 Bolivar
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 Bolivar
|Income||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% of Median||$12,760||$17,240||$21,720||$26,200||$29,600||$31,800||$34,000||$36,200|
|50% of Median||$19,200||$21,950||$24,700||$27,400||$29,600||$31,800||$34,000||$36,200|
|80% of Median||$30,700||$35,100||$39,500||$43,850||$47,400||$50,900||$54,400||$57,900|