Affordable Housing In Coalmont
Grundy County, Tennessee

1 Low Income Apartment Communities In Coalmont

Elk Meadows Apartments

Daniel Rd And Industrial Rd
Coalmont, Tennessee
Accepts Vouchers
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Housing Authorities that serve Coalmont

Housing Authority Programs
Southeast Tennessee Human Resource Agency Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency

Guide To Affordable Housing in Coalmont, Tennessee

There are 1 low income housing apartment communities offering 24 affordable apartments for rent in Coalmont, Tennessee.

Income Based Apartments in Coalmont, Tennessee

Coalmont 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 Coalmont, Tennessee

There are 24 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Coalmont.

Housing Choice Vouchers in Coalmont, Tennessee

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

The maximum amount a voucher would pay on behalf of a low-income tenant in Coalmont, Tennessee for a two-bedroom apartment is between $584 and $714.

2020 Coalmont, 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 $518 $649 $894 $969
Payment Standard Range $443 to $541 $466 to $570 $584 to $714 $805 to $983 $872 to $1,066

Sourced from federal housing data and research.

Coalmont, TN Affordable Housing Snapshot

Total Affordable Apartment Properties 1
Total Low Income Apartments 24
Total Housing Units with Rental Assistance 0
Percentage of Housing Units Occupied By Renters 22.39%
Average Renter Household Size 1.93
Average Household Size 2.49
Median Household Income $25,862 ±$2,994
Median Rent $550 ±$60
Percentage Of Renters Overburdened 26.67% ± 27.95pp
Total Population 668

Population and Household Demographics

Coalmont is a City in Grundy County, Tennessee with a population of 668. There are 268 households in the city with an average household size of 2.49 persons. 22.39% of households in Coalmont are renters.

Income and Rent Overburden in Coalmont

The median gross income for households in Coalmont is $25,862 a year, or $2,155 a month. The median rent for the city is $550 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Coalmont, a household making less than $1,833 a month would be considered overburdened when renting an apartment at or above the median rent. 26.67% of households who rent are overburdened in Coalmont.1

Area Median Income In Coalmont

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 Coalmont, the AMI is calculated from all households within Grundy County.

In Coalmont, HUD calculates the Area Median Income for a family of four as $39,700

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 Coalmont

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 Coalmont

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